Summit <a href="https://laohu8.com/S/LENZ">Therapeutics</a> Reports <a href="https://laohu8.com/S/QTWO">Q2</a> 2025 GAAP Net Loss of $565.7M, EPS of $(0.76); Non-GAAP Net Loss at $86.9M, EPS of $(0.12)
Summit Therapeutics Inc. $(SMMT)$ reported its financial results for the second quarter ending June 30, 2025. The company recorded a GAAP net loss of $565.7 million, compared to a GAAP net loss of $60.4 million in the same quarter of the previous year. The Non-GAAP net loss for the quarter was $86.9 million, up from $49.3 million in the second quarter of 2024. The company's cash and cash equivalents, along with short-term investments, totaled $297.9 million as of June 30, 2025, down from $412.3 million at the end of 2024. Operational progress included continued enrollment in Summit's global Phase III trials, HARMONi-3 and HARMONi-7, with its investigational bispecific antibody, ivonescimab (SMT112). Additionally, Summit's partner Akeso is enrolling several single-region Phase III studies in China for multiple cancer indications.
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