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SMMT — Summit Therapeutics Inc.

SMMT (Summit Therapeutics Inc.) stock: $16.33, $13.06B market cap, $629.8M cash, $12.43B EV, $15.00B fully diluted market cap. Next expected readout: Nov-26. Lead program: AK112 Injection (Non-Squamous Non-small Cell Lung Cancer), Phase 3. Data from Fully Diluted's biotech stocks database.

What they do

Company Overview Summit Therapeutics Inc. (“we”, “Summit” or the “Company”) is a biopharmaceutical company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Source: 10-K FY2025 via SEC EDGAR

Share price

$16.33

Market cap

$13,060.1M

Cash

$629.8M

Enterprise value

$12,430.3M

Balance sheet

Cash	$629.8M
Debt	$0.0M
Net cash	$629.8M
Enterprise value	$12,430.3M
Basic shares	799.8M shares
Fully diluted shares	918.5M shares
Fully diluted market cap	$14,999.0M
Cash per share	$0.79
Quarterly burn	$141.1M
Cash runway	4.9 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

797.7M

Pre-funded warrants

0.0M

Options

118.3M

RSUs

0.7M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

1.7M

FDSO

918.5M

Cap table as of 2026-07-17.

Price history

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Next catalyst

ivonescimab (HARMONi-3, squamous PFS) · Est. Nov 7, 2026 · half midpoint · guided Now

Recently reported

Ivonescimab Phase 3 Positive · 2026-08-25

HARMONi-GI1 · advanced biliary tract cancer

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 7, 2026 Now half midpoint	ivonescimab (HARMONi-3, squamous PFS) HARMONi-3 Phase 3 in first-line squamous NSCLC (primary PFS analysis; planned early interim OS analysis) · NCT05899608	Phase 3	first-line squamous NSCLC (primary PFS analysis	H2 2026
GUIDEDNov 14, 2026 in 7d	ivonescimab (HARMONi BLA) HARMONi Phase 3 in EGFR-mutant NSCLC after third-generation EGFR TKI (FDA BLA under review) · NCT06396065	Phase 3	EGFR-mutant NSCLC after third-generation EGFR TKI (FDA BLA under review)	November 14, 2026
GUIDEDEst. Apr 1, 2027 in 8 wks half midpoint	ivonescimab (HARMONi-3, non-squamous PFS) HARMONi-3 Phase 3 in first-line non-squamous NSCLC (primary PFS analysis) · NCT05899608	Phase 3	first-line non-squamous NSCLC (primary PFS analysis)	H1 2027
GUIDEDEst. Apr 1, 2027 in 8 wks half midpoint	ivonescimab (HARMONi-3, squamous OS interim) HARMONi-3 Phase 3 in first-line squamous NSCLC (independent interim OS analysis) · NCT05899608	Phase 3	first-line squamous NSCLC (independent )	H1 2027
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	ivonescimab + casdatifan (RCC) Combination study with casdatifan (HIF-2a inhibitor) in renal cell carcinoma (Arcus collaboration)	Not disclosed	renal cell carcinoma (Arcus collaboration)	data by mid-2027
Sep 14 - Oct 26 in 10 mo	Ivonescimab	Phase 2	Biliary Tract Cancer	—
Oct 13 - Nov 24 in 11 mo	Ivonescimab	Phase 2	Metastatic Esophageal Adenocarcinoma; Advanced Esophageal Adenocarcinoma; Metastatic Gastric Adenocarcinoma	—
May 13 - Jun 24 in 18 mo	Ivonescimab Injection	Phase 3	Non-Small Cell Lung Cancer	—
Jul 12 - Aug 23 in 20 mo	Ivonescimab Injection	Phase 3	Metastatic Colorectal Cancer (CRC)	—
Feb 11 - Mar 25 in 28 mo	Ivonescimab Injection	Phase 3	Non-Small Cell Lung Cancer	—
Jun 12 - Jul 24 in 32 mo	Daraxonrasib	Phase 2	Advanced Solid Tumors; Metastatic Solid Tumors; Non-small Cell Lung Cancer (NSCLC)	—
Sep 12 - Oct 24 in 35 mo	Ivonescimab	Phase 2	Metastatic Colorectal Cancer	—
Dec 12, 2030 - Jan 23, 2031 in 50 mo	Ivonescimab Dose 1	Phase 3	Metastatic Urothelial Carcinoma; Metastatic Urothelial Carcinoma (UC)	—
Feb 12 - Mar 25 in 64 mo	Ivonescimab	Phase 2	Non Small Cell Lung Cancer	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Lead drug	AK112 Injection
Lead indication	Non-Squamous Non-small Cell Lung Cancer
Lead phase	Phase 3
Active trials	5
Collaborator trials	26

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06767514	Phase 3	Recruiting	Sponsor	SMMT	—	Non-Small Cell Lung Cancer	—
NCT07228832	Phase 3	Recruiting	Sponsor	SMMT	—	Metastatic Colorectal Cancer (CRC)	—
NCT05899608	Phase 3	Recruiting	Sponsor	SMMT	—	Non-Small Cell Lung Cancer	H1 2027 Est. Jun 30, 2027 · PCD + 6 wks (Jun 30-Jun 30) H1 2027 Est. Jun 30, 2027 · PCD + 6 wks (Jun 30-Jun 30)
NCT07815665	Phase 3	Recruiting	Sponsor	SMMT	—	Metastatic Urothelial Carcinoma; Metastatic Urothelial Carcinoma (UC)	data by mid-2027 Est. Aug 31, 2027 · PCD + 6 wks (Aug 31-Aug 31)
NCT06396065	Phase 3	Active, not recruiting	Sponsor	SMMT	—	Non-Squamous Non-small Cell Lung Cancer	November 14, 2026
NCT07264075	Phase 3	Recruiting	Collaborator	Groupe Oncologie Radiotherapie Tete et Cou	—	Squamous Cell Carcinoma Head and Neck Cancer (HNSCC)	data by mid-2027 Est. Jul 16, 2027 · guidance midpoint
NCT06840834	Phase 2	Recruiting	Collaborator	Intergroupe Francophone de Cancerologie Thoracique	—	Pleural Mesotheliomas	—
NCT07070466	Phase 2	Recruiting	Collaborator	Massachusetts General Hospital	—	Stomach Cancer Stage IV; Esophagus Cancer; Stomach Cancer	—
NCT06925724	Phase 2	Recruiting	Collaborator	Memorial Sloan Kettering Cancer Center	—	Endometrial Cancer; Cervical Cancer	—
NCT06980077	Phase 2	Recruiting	Collaborator	Jonsson Comprehensive Cancer Center	—	Thymus Carcinoma	data by mid-2027 Est. Jul 29, 2027 · PCD + 6 wks (Jul 15-Aug 12)
NCT07094685	Phase 2	Recruiting	Collaborator	University of Michigan Rogel Cancer Center	—	Advanced Head and Neck Squamous Cell Carcinoma; Resectable Head and Neck Squamous Cell Carcinoma; Stage II Head and Neck Cutaneous Squamous Cell Carcinoma	data by mid-2027 Est. Aug 31, 2027 · PCD + 6 wks (Aug 29-Aug 31)
NCT06529718	Phase 2	Recruiting	Collaborator	UNICANCER	—	Biliary Tract Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 26 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 31 active trials for Summit Therapeutics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	32,786,348	-3,604,715	2.39%	2026-08-14
Logos Global Management	1,350,000	+1,350,000	0.85%	2026-08-14
ADAR1 Capital Management	191,869	+100,000	0.13%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

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SMMT — Summit Therapeutics Inc.

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

SMMT — Summit Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

SMMT — Summit Therapeutics Inc.