Summit Therapeutics Inc. (SMMT) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 24, 2025 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to Summit Therapeutics Fourth Quarter and Year End 2024 Earnings and Update Call. All participants will be in listen-only mode until the question-and-answer portion of this call. [Operator Instructions] Please refer to the company's website for updates. Please note that today's call is being recorded. [Operator Instructions] Thank you.

At this time, I would like to turn the call over to Dave Gancarz, Summit Therapeutics' Chief Business and Strategy Officer. You may proceed.

Dave Gancarz

Good morning and thank you for joining us. Two press releases were issued earlier this morning and are available on the homepage of our website. Our Form 10-K was also filed earlier this morning and is available on our website. Today's call is being simultaneously webcast and an archived replay will also be made available later today on our website, www.smmttx.com.

Joining me on the call today is Bob Duggan, our Chairman of the Board and Chief Executive Officer; Dr. Maky Zanganeh, our Chief Executive Officer and President; Manmeet Soni, our Chief Operating Officer and Chief Financial Officer; and Dr. Allen Yang, our Chief Medical Officer.

Before we get started with the rest of the call, I would like to note that some statements made by our management team and some responses to questions that we may make today may be considered forward-looking statements based on our current expectations.

Summit cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Please refer to our SEC filings for information about these risks and uncertainties. Summit undertakes no obligation to update these forward-looking statements except as required by law.

Following comments from Bob, Maky and Manmeet, we will take questions.

With that, I will turn the call over to Bob.

Bob Duggan

Thank you, Dave. Good morning, everyone, and thank you for joining us today. I am very pleased with recent accomplishments of Team Summit and the accelerating positive information and enthusiasm surrounding Ivonescimab our lead investigational asset.

In Q4 of last year and to-date in 2025, we have reached several meaningful milestones around the development of Ivonescimab, importantly with our partners in China as well as here in the US and Western markets. We continue to progress towards our mission of building an organization, making a significant positive difference in serious unmet medical needs.