Summit Therapeutics said cash and cash equivalents and short-term investments rose to USD 713.4 million at Dec. 31, 2025. For FY 2025, the company reported a GAAP net loss of USD 1.08 billion, or (USD 1.44) per share, and a non-GAAP net loss of USD 347.2 million, or (USD 0.46) per share. GAAP operating expenses were USD 1.09 billion, including GAAP R&D expense of USD 537.7 million and GAAP G&A expense of USD 556.7 million; non-GAAP operating expenses were USD 362 million. Net cash used in operating activities was USD 322.9 million in FY 2025. On the pipeline, Summit said screening for enrollment in the HARMONi-3 squamous cohort (Phase III 1L metastatic NSCLC) was completed in Q1 2026, with an interim PFS analysis planned in Q2 2026 and final PFS and interim OS data expected in H2 2026. The company also said the FDA accepted its BLA for ivonescimab plus chemotherapy in previously treated EGFR-mutated locally advanced or metastatic non-squamous NSCLC, with a PDUFA goal date of Nov. 14, 2026. Summit added that the Phase III ILLUMINE study in PD-L1 positive recurrent/metastatic head and neck squamous cell carcinoma, sponsored by GORTEC, is expected to enroll its first patient in early Q2 2026, and noted the first patient was dosed in its Revolution Medicines collaboration evaluating ivonescimab combinations in RAS-mutant tumors, while a GSK combination study is expected to start dosing in mid-2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit Therapeutics Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202602231605BIZWIRE_USPR_____20260223_BW856924) on February 23, 2026, and is solely responsible for the information contained therein.
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