Summit Therapeutics Q4 net loss widens on rise in expenses

Summit Therapeutics

23/02/2026 21:14

Overview

Biopharmaceutical oncology firm's Q4 operating expenses rose significantly yr/yr

Company reported Q4 net loss of $219.2 mln, widening from last year

Summit advances ivonescimab trials in NSCLC and CRC

Outlook

Summit expects interim PFS analysis for HARMONi-3 squamous cohort in Q2 2026

Company plans to complete enrollment for HARMONi-3 non-squamous cohort in H2 2026

Summit anticipates FDA decision on BLA for ivonescimab by November 14, 2026

Result Drivers

CLINICAL TRIAL EXPANSION - Increase in operating expenses attributed to expansion of clinical studies and development costs related to ivonescimab

STOCK-BASED COMPENSATION - Significant rise in operating expenses due to stock-based compensation modifications

Company press release: ID:nBw9hskxca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
-$0.29
Q4 Net Income
-$219.20 mln
Q4 Operating Expenses
$225 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Summit Therapeutics Inc is $34.50, about 116.4% above its February 20 closing price of $15.94

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)