Summit Therapeutics Inc.SMMT
What Summit Therapeutics Inc. does.
Summit Therapeutics Inc. (“we”, “Summit” or the “Company”) is a biopharmaceutical company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. The Company’s pipeline of product candidates is designed with the goal to become the patient-friendly, new-era standard-of-care medicines, in the therapeutic area of oncology.
The Company’s current lead development candidate is ivonescimab, a novel, potential first-in-class bispecific antibody intending to combine the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects of an anti-VEGF (as defined in Part I, Item I Business, Company Overview, Ivonescimab) compound into a single molecule. On December 5, 2022, the Company entered into the License Agreement with Akeso, Inc. and its affiliates (collectively, “Akeso”) pursuant to which the Company has in-licensed intellectual property rights related to ivonescimab (as amended, the “License Agreement”). Through the License Agreement, the Company obtained the rights to develop and commercialize ivonescimab in the United States, Canada, Europe, and Japan. The License Agreement and transaction closed in January 2023 following customary waiting periods. On June 3, 2024, the Company entered into the Second Amendment with Akeso to expand its territories covered under the License Agreement to also include Latin America, including Mexico and all countries in Central America and South America, the Middle East and Africa. The Company’s operations are focused on the development of ivonescimab and other future activities, as the Company determines.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $860,000 | $1.8M | $705,000 | $0 | $0 | — |
| Net income | -$52.7M | -$88.6M | -$78.8M | -$614.9M | -$221.3M | -$1.1B |
| Free cash flow | -$48.5M | -$72.9M | -$42.2M | -$76.9M | -$142.2M | -$323.6M |
More on SMMT.
- Summit Therapeutics Inc. summary
- Summit Therapeutics Inc. financial statements
- Summit Therapeutics Inc. key metrics
- Summit Therapeutics Inc. health scores and style box
- Summit Therapeutics Inc. earnings
- Summit Therapeutics Inc. dividends
- Summit Therapeutics Inc. valuation
- Summit Therapeutics Inc. ownership and insiders
- Summit Therapeutics Inc. peers
Figures from Summit Therapeutics Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.