EarningsQ2 2026 Earnings Report
MX:SMMT Q2 2026 EPS Results
Actual EPS-$5.15
Consensus EPS-$5.04
Beat/MissMissed by -$0.11
One Year Ago EPS-$13.98
MX:SMMT Q2 2026 Revenue Results
Actual Revenue$0.00
Expected Revenue$0.00
Beat/MissMet expectations
YoY Revenue Growth―
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
MX:SMMT Upcoming Earnings
Summit Therapeutics's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SMMT Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized substantial clinical progress for ivonescimab — multiple positive Phase III PFS readouts, overall survival hazard ratios consistently under 0.80, extensive global clinical activity, commercial exposure in China, and a strong cash balance with no debt. Key near-term catalysts include the FDA PDUFA date (Nov 14, 2026) and upcoming HARMONi-3 interim analyses. Offsetting risks include accelerating operating costs and cash burn, reliance on ATM financings, regulatory uncertainty around statistically significant OS for approval, and the statistical/operational complexity introduced by multiple interim OS looks and regional maturity differences. Overall, the positives around clinical data and pipeline breadth outweigh the financial and regulatory risks presented on the call.Company Guidance
Clinical Efficacy — Multiple Positive Phase III Readouts
Ivonescimab has produced positive, statistically significant progression-free survival results in 4 Phase III studies to date; all 4 Phase III studies reported overall survival (OS) hazard ratios <0.80 (HARMONi updated HR 0.76; HARMONi-2 HR 0.78 at 39% maturity; HARMONi-6 HR 0.68). HARMONi-A (China) demonstrated statistically significant OS benefit.
Global Clinical Footprint and Patient Exposure
Extensive development: 15 Phase III trials ongoing or read out; 52 trials initiated by Summit and Akeso; 171 total clinical trials listed on clinicaltrials.gov when including investigator/collaborative studies. Over 4,000 patients dosed in Summit- or Akeso-sponsored clinical trials and >70,000 patients administered ivonescimab commercially in China.
Regulatory Progress — BLA Under Review with PDUFA Date
BLA for ivonescimab plus chemo in EGFR-mutated NSCLC (post-TKI) is under FDA review with a target PDUFA date of November 14, 2026; updated HARMONi OS data were provided to the FDA (no substantive feedback reported yet).
Robust Clinical Collaborations and Pipeline Expansion
New and ongoing collaborations with Revolution Medicines, GSK, Arcus and others to evaluate ivonescimab in novel-novel combinations across multiple tumor types (e.g., RAS inhibitors, B7-H3 ADCs, HIF-2α inhibitor). Multiple global Phase III programs (HARMONi-3, -7, -GI3) and an independent European GORTEC Phase III (ILLUMINE) are progressing.
Commercial and Scientific Visibility
Ivonescimab featured in >50 publications/presentations; data presented at ASCO and ESMO; investigator-sponsored trials (ISTs) >65 planned/supported with 24 currently enrolling, indicating strong KOL and investigator interest.
Strong Cash Position and Financing Flexibility
Cash of approximately $690.7 million at quarter end (up $92.0 million from Q1 2026), driven primarily by $231 million raised from the ATM facility. No debt on the balance sheet and a new prospectus supplement filed for an additional ATM facility of up to $380 million.
Commercial Readiness
Company has been building commercial capabilities in anticipation of potential U.S. approval: leadership hires in place, market access and marketing teams assembled, and MSLs ramped up; field force hiring planned closer to PDUFA/launch timing.
MX:SMMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed