Updates

** Shares of drug developer Summit Therapeutics SMMT.O fall 12.6% to $19.33

** Company reports fourth-quarter net loss of $61.1 million, vs analysts' estimate of a loss of $60.54 million, as per data compiled by LSEG

** Brokerage Truist Securities analysts say: "from what we understand with our buyside discussions is that there were some expectations for deal announcements, perhaps with more economic scope than what was disclosed between SMMT & Pfizer"

** Brokerage added: "We think changes to SMMT's participation in investor conferences may not be a good indicator of potential deal announcements"

** SMMT says it is collaborating with Pfizer PFE.N to study its experimental drug ivonescimab in combination with several of Pfizer's targeted cancer therapies, called antibody drug conjugates (ADCs), across different types of tumors

** Stock has risen 5x in the last 12 months

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))