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Summit Therapeutics falls on earnings miss despite progress
Summit Therapeutics reported a Q4 earnings miss, with an adjusted EPS of -£0.29 against an estimate of -£0.08, causing its shares to fall by 2.4% in after-hours trading. Despite the earnings miss, the company made progress in its clinical trials for ivonescimab, completing screening for its HARMONi-3 Phase III trial and having its Biologics License Application accepted by the FDA. Summit also saw a significant increase in cash and cash equivalents, reaching $713.4 million by the end of 2025.