Earnings Releases·Nov 4, 2026, 4:51 PM ET

Summit Therapeutics — Q3 2026 Earnings Summary

GAAP net loss narrowed to $208.4 million ($0.26/share) in Q3 2026 from $231.8 million ($0.31/share) in the prior year period, while non-GAAP net loss widened to $160.7 million ($0.20/share) from $101.0 million ($0.13/share); cash and equivalents decreased to $629.8 million from $713.4 million at year-end 2025.
AstraZeneca completed a $2.0 billion strategic equity investment on October 5, 2026, at a $18.36 per share price, alongside expanded clinical collaborations for gastrointestinal and breast cancer indications.
The FDA set a PDUFA action date of November 14, 2026, for ivonescimab in EGFR-mutated NSCLC, though the primary HARMONi analysis did not achieve the statistically significant overall survival benefit required for marketing authorization in this setting.
Clinical progress includes completed enrollment in the HARMONi-3 squamous cohort with PFS event data expected in Q4 2026, while HARMONi-3 non-squamous and HARMONi-7 enrollments are ongoing with data expected in 2027.