Summit Therapeutics posted a GAAP net loss of USD 215.7 million, or USD 0.28 per share, for Q2 2026, narrowing from USD 565.7 million.
GAAP operating expenses fell to USD 220.5 million from USD 568.4 million, due to lower stock-based compensation tied to 2025 award modifications.
Non-GAAP net loss widened to USD 147 million, or USD 0.19 per share, from USD 86.9 million; non-GAAP operating expenses rose to USD 151.8 million from USD 89.6 million.
Cash and short-term investments totaled USD 690.7 million at June 30, 2026; Summit raised USD 230.8 million via its ATM in Q2 plus USD 68.4 million after quarter-end.
Regulatory update for ivonescimab
The FDA set a Nov. 14, 2026 PDUFA date for ivonescimab in EGFR-mutated NSCLC; updated HARMONi OS analysis showed a 0.76 hazard ratio.
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