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Biotech developing ivonescimab, a bispecific antibody cancer drug licensed from China's Akeso, targeting lung and other solid tumors.
Biotech developing ivonescimab, a bispecific antibody cancer drug licensed from China's Akeso, targeting lung and other solid tumors.
Has no approved product and no sales; it pays for clinical trials with money raised from investors, and owes Akeso milestone payments and royalties if ivonescimab is approved and sells. Its rights cover markets outside China, where Akeso keeps the drug.
Moat: narrow (IP / patents). Exclusive ex-China rights to a promising bispecific antibody showing competitive trial data versus Merck's Keytruda.
Headquarters: Menlo Park, California, US · Founded: 2003 · Employees: 265
Size Summit Therapeutics (SMMT) is a United States Health Care company (Biotechnology) with a market value of $13.1B, the 661st largest of 3,117 United States companies the cockpit tracks. Shares closed at $16.33 on 6 Nov 2026.
Performance Over six months the shares fell 9.7%, against +9.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Short interest Short interest is 5.1% of the free float (15 Oct 2026).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $705,000 |
| Revenue growth | — | — | — | -100% | — |
| Gross profit | -$174,000 | -$146,000 | -$89,000 | -$2.05M | -$1.81M |
| EBITDA | -$875M | -$1.09B | -$211M | -$87.7M | -$76.8M |
| Net income | -$856M | -$1.08B | -$221M | -$615M | -$78.8M |
| Free cash flow | -$458M | -$324M | -$142M | -$76.9M | -$42.2M |
| Capital expenditure | $1.38M | $657,000 | $139,000 | $128,000 | $624,000 |
| Total debt | $20.4M | $20.9M | $7.22M | $106M | $519M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Summit Therapeutics SMMT | $13.1B | -10% | n/a | n/a | n/a | n/a |
| Merck & MRK | $362B | +33% | +5% | 18% | 5.4× | 4.1% |
| Akeso 9926.HK | $10.2B | -38% | +42% | -25% | 19.5× | n/a |
| Bristol Myers Squibb BMY | $127B | +12% | +4% | 33% | 3.2× | -12.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SMMT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.9% | -4.6% | 11th highest of 21 |
| 6-month return | -9.7% | +9.5% | 4th lowest of 21 |
| Distance from 52-week high | -44.1% | -22.0% | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Summit Therapeutics SMMT | United States | $13.1B | -10% | n/a | n/a | n/a | n/a | n/a |
| Elanco Animal Health ELAN | United States | $12.9B | +9% | +12% | 7% | 3.2× | 34.8% | +7.6% |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 2.2× | -10.3% | +0.1% |
| BridgeBio Pharma BBIO | United States | $14.5B | +10% | +167% | -37% | 18.3× | n/a | n/a |
| Halozyme Therapeutics HALO | United States | $11.8B | +62% | +41% | 57% | 8.2× | 2.5% | +39.2% |
| Bio-Techne TECH | United States | $11.4B | +51% | 0% | 22% | 9.4× | 31.3% | +5.5% |
| Kymera Therapeutics KYMR | United States | $11.2B | +53% | +134% | -396% | 101.2× | n/a | n/a |
| BioMarin Pharmaceutical BMRN | United States | $10.9B | +4% | +20% | 19% | 3.9× | 6.5% | +12.0% |
| Sichuan Kelun Pharmaceutical 002422.SZ | China | $10.8B | +30% | 0% | 9% | 3.9× | 7.2% | +2.3% |
| ALTEOGEN 196170.KS | South Korea | $10.3B | -46% | +61% | 53% | 43.0× | 29.8% | +38.5% |
| Neurocrine Biosciences NBIX | United States | $16.7B | +8% | +38% | 25% | 4.4× | -1.7% | +22.3% |
| Vaxcyte PCVX | United States | $10.1B | +21% | n/a | n/a | n/a | n/a | n/a |
| Krystal Biotech KRYS | United States | $8.92B | -2% | +26% | 48% | 17.1× | 11.9% | +26.0% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 9.9× | 36.5% | +19.8% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -34% | 11.9× | n/a | n/a |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -32% | 18.2× | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | 11.8× | 41.8% | +16.6% |
| BioNTech SE Sponsored ADR BNTX | United States | $22.8B | -7% | -1% | -38% | 2.0× | 5.7% | +42.6% |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 6.9× | 18.7% | +85.4% |
| United Therapeutics UTHR | United States | $24.1B | -1% | +2% | 44% | 6.9× | -0.4% | +16.5% |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 7.9× | n/a | n/a |