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Summit Therapeutics (SMMT)
NASDAQ:SMMT
Earnings Data
Report Date
Aug 06, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.09Last Year’s EPS
-0.05Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Date:May 01, 2025
|% Change Since: 3.00%
|Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment|Positive
The earnings call presented significant positive developments, particularly the regulatory approval and promising interim results for ivonescimab, indicating strong progress in its clinical development. However, challenges such as limited market opportunities for specific trials and increased G&A expenses were noted. Overall, the positive highlights significantly outweigh the lowlights.Company Guidance
During the Summit Therapeutics Q1 2025 earnings call, significant metrics and guidance regarding the development of their investigational asset, ivonescimab, were provided. The ongoing progress in ivonescimab's clinical trials was highlighted, with ivonescimab receiving approval from China's NMPA for frontline monotherapy in NSCLC patients with positive PD-L1 expression, based on positive progression-free survival (PFS) results from Akeso's HARMONi-2 trial. An interim analysis showed a 22% potential reduction in the risk of death with a hazard ratio of 0.777. Additionally, ivonescimab in combination with chemotherapy met its primary PFS endpoint in the HARMONi-6 trial, showing statistically significant improvement over tislelizumab combined with chemotherapy. Summit expects top-line data from their global HARMONi Phase III trial by mid-2025. Financially, Summit reported $361 million in cash and equivalent assets, with R&D expenses remaining steady at $51.2 million.Ivonescimab Approval in China
Ivonescimab received approval from the NMPA in China as a frontline monotherapy treatment for NSCLC patients with positive PD-L1 expression. This approval was based on positive progression-free survival (PFS) results from Akeso's HARMONi-2 trial, marking a significant regulatory milestone.
Positive Interim Analysis Results
An interim analysis of overall survival (OS) from the HARMONi-2 trial showed a clinically meaningful and strongly positive trend favoring ivonescimab with a hazard ratio of 0.777, indicating a potential 22% reduction in the risk of death compared to pembrolizumab.
HARMONi-6 Phase III Trial Success
Akeso's HARMONi-6 Phase III trial met its primary endpoint of progression-free survival in patients with advanced squamous NSCLC. The trial showed statistically significant improvement with ivonescimab plus chemotherapy versus tislelizumab plus chemotherapy.
Financial Position
The company ended the first quarter of 2025 with a strong cash position of approximately $361 million and is debt-free after paying off all debt in the fourth quarter of 2024.
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 |
|---|---|---|---|
May 01, 2025 | $24.67 | $27.90 | +13.09% |
Feb 24, 2025 | $22.12 | $18.84 | -14.83% |
Oct 30, 2024 | $21.83 | $18.65 | -14.57% |
Aug 06, 2024 | $10.02 | $9.54 | -4.79% |
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 (SMMT) report earnings?
Summit Therapeutics (SMMT) is schdueled to report earning on Aug 06, 2025, TBA Not Confirmed.
What is Summit Therapeutics (SMMT) earnings time?
Summit Therapeutics (SMMT) earnings time is at Aug 06, 2025, TBA Not 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 2025 (Q2) is -0.09.