Summit Therapeutics Q3 net loss $21.3M; starts second Phase III for ivonescimab

Summit Therapeutics Inc.

2023-Q3 EPS reported -$0.98

Net loss Q3 $21.3M; nine-month 2023 net loss $578.4M includes $520.9M one-time IPR&D charge from ivonescimab licensing.
Cash, equivalents, and short-term investments $198.9M at Sep 30, 2023 (down from $648.6M Dec 2022); $100M notes payable due Sep 2024; expects funds into H2 2024.
Enrollment initiated in HARMONi-3 Phase III trial for ivonescimab in first-line metastatic squamous NSCLC; HARMONi enrollment completion expected H2 2024.
Manmeet S. Soni appointed COO and invested $5M; multiple internal promotions and hiring of Dr. Jack West and Dr. Laura Chow in clinical development.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Summit Therapeutics Inc. reported financial results for the third quarter and nine months ended September 30, 2023.

Period: the third quarter and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today reports its financial results and provides an update on operational progress for the third quarter and nine months ended September 30, 2023.

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Summit Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001599298-23-000096

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