By Adriano Marchese
Summit Therapeutics shares fell after the company reported a wider loss in the fourth quarter.
Shares were trading 14% lower at $19.11.
The biopharmaceutical oncology company reported a loss of $61.2 million, or 8 cents a share, compared with a loss of $36.6 million, or 5 cents a share a year earlier.
Expenses also rose. Adjusted operating expenses came to $54.8 million from $27.7 million.
Additionally, Summit Therapeutics plans to work with Pfizer to study its promising cancer drug candidate ivonescimab and Pfizer's antibody drug conjugates in solid tumors.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 24, 2025 10:19 ET (15:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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