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Summit Therapeutics PLC (SMMT)
:SMMT
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.08Last Year’s EPS
-0.05Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 17, 2021
|% Change Since: -16.72%
|Next Earnings Date:Nov 16, 2020
Earnings Call Sentiment|Positive
Summit Therapeutics demonstrated strong progress and expansion in their clinical trials for ivonescimab, supported by substantial fundraising and strategic partnerships. However, increased operating expenses and uncertainties regarding the overall survival outcomes from current trials present notable challenges.Company Guidance
During the Summit Therapeutics' Q3 2024 earnings call, extensive guidance was provided on the company's progress and future plans, focusing on their investigational asset, ivonescimab. Notable developments include the completion of enrollment for the global Phase III HARMONi trial with EGFR mutated advanced non-small cell lung cancer patients, with top-line data expected in mid-2025. The company also plans to amend the HARMONi-3 trial to cover both squamous and non-squamous histologies, expanding the addressable market to an estimated 1,080 patients. A new Phase III trial, HARMONi-7, will be initiated in early 2025. Financially, Summit raised $235 million, enhancing their cash position to $487 million at quarter-end, facilitating further clinical advancements. Operational expenses included GAAP R&D costs of $37.7 million and GAAP G&A expenses of $20.4 million for the quarter, with a focus on efficient execution of their registrational studies while maintaining a quarterly cash burn below $35 million.Expansion and Progress of Ivonescimab Trials
Significant achievements in the progress of ivonescimab with plans to expand Phase III trials, including the HARMONi-3 trial to cover non-small cell lung cancer with both squamous and non-squamous histologies.
Fast Track Designation and New Trials
Ivonescimab received Fast Track designation from the FDA. The company announced plans for a new global Phase III trial, HARMONi-7, to study ivonescimab monotherapy for lung cancer with high PD-L1 expression.
Successful Fundraising
Summit raised $235 million from leading biotech investors, extending the cash runway and increasing resources for clinical trials.
Positive Phase II and III Data
Phase II and III trials showed promising results for ivonescimab in various tumor settings, including lung and breast cancer, with significant improvements in progression-free survival.
Partnership with MD Anderson Cancer Center
Initiated strategic alliances with the University of Texas MD Anderson Cancer Center, providing additional opportunities to evaluate ivonescimab in new tumor types.
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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
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SMMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $21.83 | $18.65 | -14.57% |
| Aug 06, 2024 | $10.02 | $9.54 | -4.79% |
| May 01, 2024 | $3.93 | $4.70 | +19.59% |
| Feb 20, 2024 | $5.07 | $3.74 | -26.23% |
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.
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FAQ
When does Summit Therapeutics PLC (SMMT) report earnings?
Summit Therapeutics PLC (SMMT) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Summit Therapeutics PLC (SMMT) earnings time?
Summit Therapeutics PLC (SMMT) earnings time is at Mar 13, 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 2024 (Q4) is -0.08.
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