---
schema_version: "secwatch.filing_event.v1"
accession: "0001599298-23-000074"
form_type: "8-K"
ticker: "SMMT"
cik: "0001599298"
company_name: "Summit Therapeutics Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T22:16:55.617450+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Summit Therapeutics Q2 net loss $14.7M; cash at $215M; HARMONi trials underway

## Summary
- Net loss for Q2 2023 was $14.7M vs $16.8M YoY; six-month net loss $557.1M including $520.9M one-time IPR&D charge for ivonescimab license.
- Cash, equivalents, and short-term investments at June 30, 2023 totaled $215M, down from $648.6M at Dec 31, 2022; notes payable $100M due Sept 2024.
- First US patient dosed in Phase III HARMONi trial (ivonescimab + chemo in EGFR-mutant NSCLC); HARMONi-3 trial in first-line squamous NSCLC to begin H2 2023.
- Phase II data from Akeso's AK112-201 trial: median PFS 11 months, ORR 67% in first-line squamous NSCLC; presented at ASCO 2023.
- Collaboration license paid $500M upfront to Akeso; Akeso eligible for up to $4.5B in milestones plus low double-digit royalties.

## SEC filing metadata
- accession: 0001599298-23-000074
- form_type: 8-K
- ticker: SMMT
- cik: 0001599298
- company_name: Summit Therapeutics Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1599298/000159929823000074/0001599298-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1599298/000159929823000074/smmt-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001599298-23-000074
- JSON: https://secwatch.observer/filing/0001599298-23-000074.json
- Plain text: https://secwatch.observer/filing/0001599298-23-000074.txt

## Key facts
- Earnings Releases
  Summit Therapeutics Inc. reported the second quarter ended June 30, 2023 results: net income $14.7 million.
  - Period: the second quarter ended June 30, 2023
  - Net income: $14.7 million
  - Result: reported results
  source text: Net loss for the three and six months ended June 30, 2023 was $14.7 million and $557.1 million, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599298/000159929823000074/0001599298-23-000074-index.htm
- Earnings Releases
  Summit Therapeutics Inc. reported the six months ended June 30, 2023 results: net income $557.1 million.
  - Period: the six months ended June 30, 2023
  - Net income: $557.1 million
  - Result: reported results
  source text: Net loss for the three and six months ended June 30, 2023 was $14.7 million and $557.1 million, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599298/000159929823000074/0001599298-23-000074-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.