Jul. 24 at 1:03 PM
While Summit reported a slightly wider-than-expected quarterly loss, investors remain focused on the progress of its lead oncology candidate.
Key developments:
• Q2 loss came in at
$0.28/share, wider than the consensus estimate of
$0.26
• No revenue was reported as Summit still has no marketed products
• Updated ivonescimab survival data was submitted to the FDA during the ongoing BLA review
• Cash increased to
$690.7M, supporting continued late-stage development
• The company expanded ivonescimab's pipeline with a new
$RCUS collaboration in kidney cancer
Deep dive here 👇
https://www.zacks.com/stock/news/2960045/smmts-q2-loss-wider-than-expected-ivonescimab-development-in-focus?cid=sm-stocktwits-0-2960045-teaser-38952&ADID=SYND_STOCKTWITS_TWEET_0_2960045_TEASER_38952
