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.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit Therapeutics Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250811380438) on August 11, 2025, and is solely responsible for the information contained therein.
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