Summit Therapeutics (SMMT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 07, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.17

Last Year’s EPS

-0.09

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 10 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 23, 2026|

% Change Since:

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

Summit guided that an interim PFS analysis for the HARMONi‑3 squamous cohort will be conducted in Q2 2026 (squamous screening complete with ~600 patients randomized), with final PFS and an interim OS analysis planned in H2 2026; the non‑squamous cohort is expected to complete enrollment in H2 2026 and reach prespecified events for final PFS by H1 2027. The company reminded investors the HARMONi BLA is accepted by FDA with a PDUFA date of Nov 14, 2026 (FDA has indicated a statistically significant OS benefit will be required for approval in the EGFR‑mutant post‑TKI setting). Financial and operational metrics disclosed included cash of ~$713.4M at year‑end 2025 with no debt; Q4 2025 GAAP operating expenses of $225M (vs. $234.2M in Q3), non‑GAAP operating expenses of $113.3M (vs. $103.4M), a $19.1M decrease in stock‑based comp offset by an $8.8M increase in clinical spend, and full‑year 2025 G&A ex‑stock comp of ~$43M (run rate ~$10–11M/quarter). Pipeline and milestone metrics: 4 Phase III readouts to date (all positive), ~15 randomized Phase III trials announced/ongoing, 44 trials initiated since 2019, 142 total trials listed on ClinicalTrials.gov (including ISTs), >4,000 patients enrolled in Summit/Akeso trials, >60,000 patients treated commercially in China across two approved indications, ILLUMINE (GORTEC) Phase III to enroll ~780 patients beginning next quarter, Revolution collaboration first patient dosed, GSK combo study to begin dosing mid‑2026, and production process successfully transferred and validated to a U.S. manufacturer.

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.

Summit Therapeutics (SMMT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SMMT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2026	2026 (Q1)	-0.17 / -	-0.09	―	―	―
Feb 23, 2026	2025 (Q4)	-0.09 / -0.29	-0.08	-262.50% (-0.21)
Oct 20, 2025	2025 (Q3)	-0.17 / -0.31	-0.08	-287.50% (-0.23)
Aug 11, 2025	2025 (Q2)	-0.09 / -0.76	-0.05	-1420.00% (-0.71)	―	―
May 01, 2025	2025 (Q1)	-0.09 / -0.09	-0.06	-50.00% (-0.03)
Feb 24, 2025	2024 (Q4)	-0.08 / -0.08	-0.05	-60.00% (-0.03)
Oct 30, 2024	2024 (Q3)	-0.07 / -0.08	-0.03	-166.67% (-0.05)
Aug 06, 2024	2024 (Q2)	-0.06 / -0.05	-0.021	-138.10% (-0.03)	―
May 01, 2024	2024 (Q1)	-0.06 / -0.06	-1.43	95.80% (+1.37)	―
Feb 20, 2024	2023 (Q4)	- / -0.05	-0.07	28.57% (+0.02)

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
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%
May 01, 2025	$24.67	$27.90	+13.09%

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 May 07, 2026, After Close (Confirmed).

What is Summit Therapeutics PLC (SMMT) earnings time?

Summit Therapeutics PLC (SMMT) earnings time is at May 07, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

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What is SMMT EPS forecast?

SMMT EPS forecast for the fiscal quarter 2026 (Q1) is -0.17.