Summit Therapeutics Inc. reported a net loss of $216M for the quarter ended 2Q 2026, an improvement from a net loss of $566M in the year‑ago quarter; diluted net loss per share was $(0.28) versus $(0.76) a year earlier. The company reported no revenue for the periods presented.
Financial Highlights
- Net income: Net loss of $216M for 2Q 2026, improved from net loss of $566M in the year‑ago quarter.
- Diluted EPS: Diluted net loss per share of $(0.28) for 2Q 2026, versus $(0.76) in the year‑ago quarter.
- Revenue: No revenue reported in Part 1 Item 1/2 for the periods presented.
Business Highlights
- Clinical efficacy and regulatory: HARMONi Phase III showed a significant progression‑free survival (PFS) benefit and a positive overall survival (OS) trend; the BLA has been accepted by the FDA with a PDUFA date of Nov 14, 2026.
- Pipeline expansion: Ongoing global Phase III trials HARMONi-3, HARMONi-7 and HARMONi-GI3, plus additional investigator- and partner‑sponsored studies.
- Commercial partnerships & territory rights: A license from Akeso grants Summit rights in the U.S., Canada, Europe and Japan, with later rights in Latin America and MENA; supply and milestone obligations are in place.
- Operational growth & trials scale‑up: Increased clinical and manufacturing spend to support enrollment completions across multiple global trials.
- Collaborations: New combination‑program collaborations with RevMed, GSK, Arcus and cooperative group GORTEC to explore combinations and new indications.
Original SEC Filing:
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