Summit Therapeutics Posts Wider-Than-Expected Loss in Q3, Nil Sales

Summit Therapeutics (SMMT) reported third-quarter 2024 loss per share of 8 cents, wider than the Zacks Consensus Estimate of a loss of 7 cents. In the year-ago period, the company posted a loss of 3 cents per share.The reported loss included stock-based compensation expenses. Excluding these expenses, the adjusted loss per share was 5 cents, wider than the year-ago adjusted loss of 3 cents.As the company lacks any marketed product in its portfolio, it did not record quarterly revenues.More on SMMT’s Earning ...