Summit Therapeutics Posts Wider Loss In Q3

Financial Performance - Summit Therapeutics Inc. reported a GAAP net loss of $231.8 million or $0.31 per share in Q3, compared to a loss of $56.3 million or $0.08 per share in the same quarter last year [1] - The non-GAAP net loss for the third quarter was $101.0 million or $0.13 per share, up from a loss of $36.9 million or $0.05 per share in the prior year [1] Clinical Development - Based on the results of the HARMONi clinical trial, Summit plans to submit a Biologics License Application (BLA) for ivonescimab plus chemotherapy, targeting submission in Q4 2025 [2] - The company intends to expand its ivonescimab clinical development program with additional Phase III clinical studies [2] Market Reaction - Shares of Summit Therapeutics are down 5% in pre-market trading on Monday [2]