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Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.27Last Year’s EPS
-0.76Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong set of clinical and operational achievements: multiple positive Phase III readouts, broad global development, robust patient exposure, strategic collaborations, a healthy cash balance ($713.4M), manufacturing transfer to the U.S., and an accepted BLA with a November 14, 2026 PDUFA date. Key risks remain around demonstrating statistically significant overall survival for U.S. approval in the EGFR setting, OS immaturity at the interim PFS readout for HARMONi-3 squamous, increased near-term R&D spending (non-GAAP op expenses +~9.6% Q/Q), and reliance on partner-generated data from China which may require bridging for global regulatory bodies. On balance, the highlights (clinical momentum, approvals in China, partnerships, cash runway, manufacturing readiness) outweigh the challenges, but the path to full U.S. approval and broader commercialization depends on forthcoming OS data and regulatory interactions.Company Guidance
Strong cash position and no debt
Ended FY2025 with approximately $713.4 million in cash and no debt, supporting continued clinical development and commercial readiness activities.
Multiple positive Phase III readouts and regulatory progress
Ivonescimab has read out 4 Phase III studies to date, all positive, leading to 2 approvals in China. Summit's BLA for the HARMONi indication was accepted by the FDA with a PDUFA target action date of November 14, 2026.
HARMONi-3 squamous cohort enrollment completed and interim PFS planned
Screening for the HARMONi-3 squamous cohort is complete with the last patient to be randomized imminently. An interim PFS analysis for the squamous cohort is planned in Q2 2026, enabled by accelerated enrollment (600 squamous patients enrolled ahead of plan).
Clinically meaningful PFS benefits demonstrated in prior trials
Prior Phase III results supporting the program include HARMONi-2 PFS HR = 0.51 with median PFS improvement >5 months, HARMONi-6 showing HR = 0.60, and Akeso trials reporting >40% improvement in PFS for ivonescimab arms—data that informed the decision to add interim PFS analyses.
Broad global development and patient exposure
15 randomized Phase III trials announced/ongoing, 44 clinical trials initiated since 2019 between Summit and Akeso, 142 total trials listed including investigator-initiated/collaborative studies, and over 4,000 patients enrolled in Summit- or Akeso-sponsored trials. Commercially in China, >60,000 patients have received ivonescimab across two approved indications.
New and expanding collaborations/trials
New cooperative group-led ILLUMINE Phase III in PD-L1+ head & neck SCC (~780 patients) to begin enrollment early next quarter; first patient dosed in Revolution Medicines collaboration (ivonescimab + RAS(ON) inhibitors); clinical collaboration with GSK (B7-H3 ADC) expected to begin dosing mid-2026; initiated HARMONi-GI3 in colorectal cancer.
Manufacturing and commercial readiness progress
Successfully transferred and validated the production process of ivonescimab to a U.S.-based manufacturer. Commercial readiness ramp accelerated in anticipation of potential U.S. approval for EGFR-mutant NSCLC post-TKI therapy.
Disciplined G&A and controlled spending
Full-year 2025 G&A (excluding stock-based compensation) was approximately $43 million with a quarterly run rate of ~$10–11 million, demonstrating cost discipline while R&D spend increases to support pivotal trials.
SMMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SMMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $21.46 | $16.11 | -24.91% |
Feb 23, 2026 | $16.09 | $16.12 | +0.19% |
Oct 20, 2025 | $20.99 | $20.04 | -4.53% |
Aug 11, 2025 | $28.25 | $25.68 | -9.10% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Summit Therapeutics PLC (SMMT) report earnings?
Summit Therapeutics PLC (SMMT) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Summit Therapeutics PLC (SMMT) earnings time?
Summit Therapeutics PLC (SMMT) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SMMT EPS forecast?
SMMT EPS forecast for the fiscal quarter 2026 (Q2) is -0.27.