Summit Therapeutics Inc
SMMT
ISIN null / Valor 56903013
Summit Therapeutics Inc
UMushroom community rating:
About company
Summit Therapeutics Inc. is a biopharmaceutical company specializing in oncology, dedicated to the discovery, development, and commercialization of innovative therapies aimed at addressing serious unmet medical needs. The company's primary focus is on improving the quality and potential duration of life for patients with challenging cancer diagnoses. Summit's lead candidate, ivonescimab (SMT112 in the U.S., Canada, Europe, and Japan; AK112 in China and Australia), is a novel bispecific antibody that combines immunotherapy and anti-angiogenesis effects. Currently, ivonescimab is undergoing two Phase III clinical trials in Summit's licensed territories and multiple Phase III trials in China, led by its discoverer, Akeso, Inc. Initially targeting non-small cell lung cancer (NSCLC), Summit plans to explore ivonescimab's potential in other solid tumors, leveraging promising data from ongoing studies.
Summarized from source with an LLMView SourceSector: HealthcareLatest Results (08.09.2026):
Summit Therapeutics Inc — Q2 2026: In its Q2 2026 earnings presentation (dated July 2026), Summit reported a strong cash position (cash & investments of $690.7 million as of June 30, 2026) and no debt, while continuing to invest heavily in development. GAAP operating expenses for the quarter were $220.5 million (GAAP R&D $157.7M; GAAP G&A $62.8M). After removing stock‑based compensation of $68.7 million, non‑GAAP operating expense was $151.8 million (non‑GAAP R&D $133.6M; non‑GAAP G&A $18.2M). The presentation also reconciles GAAP to non‑GAAP results and shows the company’s clinical and regulatory milestones for its lead candidate, ivonescimab.
Balance sheet
As of June 30, 2026 Summit reported $690.7M in cash and investments and stated zero debt — the presentation emphasizes a “strong balance sheet.”
Operating expenses and R&D
GAAP operating expenses for Q2 2026 were $220.5M. GAAP research & development expense was $157.7M and GAAP general & administrative was $62.8M, reflecting continued heavy R&D investment tied to ivonescimab programs and supporting operations.
Non‑GAAP adjustments (stock‑based compensation)
The company excluded $68.7M of stock‑based compensation in reconciling to non‑GAAP measures. After that adjustment, non‑GAAP operating expense was $151.8M (non‑GAAP R&D $133.6M; non‑GAAP G&A $18.2M).
Net loss and per‑share (as presented)
The presentation includes reconciliations from GAAP to non‑GAAP net loss and per‑share metrics for the quarter; the slides show a materially larger GAAP loss than the non‑GAAP loss after removing stock‑based compensation (the slide reconciliations present the GAAP to non‑GAAP differences for the period).
Revenue and commercialization
The slides do not show U.S. or global product revenue for Q2 2026. The deck focuses on clinical progress and market opportunity for ivonescimab; ivonescimab is approved in China (NMPA) but is described as investigational elsewhere.
Key clinical / corporate catalysts
The presentation highlights ongoing and upcoming clinical/regulatory milestones for ivonescimab, including a BLA PDUFA date of November 14, 2026, multiple Phase III readouts and upcoming conference presentations (updated OS data) — items that the company frames as drivers of future value.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
13366 M
Market cap (USD)
5,196,190
Daily traded volume (Shares)
18.15 / 17.57
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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