Summit Therapeutics Shares Down as 4Q Loss Widens

Dow Jones
24 Feb
 

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)

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