Summit Therapeutics

Q2 FY2026 EarningsQ2 FY2026 results missed consensus across key profitability metrics despite significant clinical progress. GAAP EPS of -$0.28 missed the -$0.218 mean estimate, and GAAP Net Loss of $215.7M was wider than the $157.0M expected. While clinical momentum for ivonescimab remains strong with a PDUFA date of Nov 14, 2026, rising R&D costs and stock-based compensation continue to weigh on the bottom line. Cash reserves remain robust at $690.7M following ATM activity.