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Sep 30, 2023
Summit Therapeutics Q3 2023 Earnings Report
Summit Therapeutics reported financial results and operational progress for Q3 2023.
Key Takeaways
Summit Therapeutics reported a net loss of $21.3 million for the third quarter of 2023. The company is actively engaged in the development of Ivonescimab and has initiated enrollment in the second Phase III clinical study, HARMONi-3.
Initiated enrollment in the second Phase III clinical study for Ivonescimab, HARMONi-3.
Continuing enrollment of HARMONi Phase III study, with enrollment completion expected in the second half of 2024.
Manmeet S. Soni joined Summit as COO and invested $5 million in the company.
Dave Gancarz, Dr. Urte Gayko, Dr. Fong Clow, & Dr. Allen S. Yang elevated to leadership positions.
Forward Guidance
Based on current cash and investments, operating plans, and notes payable due in September 2024, Summit Therapeutics has sufficient funds to operate into the second half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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