Summit Therapeutics Inc
SMMTHealthcare|Biotechnology|USA
$15.25
-0.23 (-1.49%)
Tangible Book
$0.70
Earnings Power
$1.03
Financials
Financial Snapshot
Market Cap
$11.84B
Enterprise Value
$578.7M
Revenue (TTM)
$0.00
Net Income (TTM)
$-1.21B
Cash & Equivalents
—
Net Cash/Share
$0.64
Free Cash Flow (TTM)
$-384.5M
Operating CF (TTM)
$-384.1M
Debt/Equity
0.04
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$96.0M
Monthly Burn
$32.0M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $23.2M | $35.1M | $28.5M | $35.2M | $66.4M | $71.8M | $348.6M | $186.2M | $412.3M | $713.4M | $598.7M | |
| Operating Cash Flow | $-24.5M | $15.2M | $-20.6M | $-35.1M | $-48.1M | $-72.6M | $-41.6M | $-76.8M | $-142.1M | $-322.9M | $-384.1M | |
| Free Cash Flow | $-24.6M | $15.1M | $-21.3M | $-35.3M | $-48.5M | $-72.9M | $-42.2M | $-76.9M | $-142.2M | $-323.6M | $-384.5M | |
| Capital Expenditure | $-94.0K | $-110.0K | $-678.0K | $-164.0K | $-421.0K | $-306.0K | $-624.0K | $-128.0K | $-139.0K | $-657.0K | $-480.0K | |
| Financing Cash Flow | $31.5M | $516.0K | $19.5M | $44.5M | $50.6M | $77.9M | $620.2M | $86.5M | $381.2M | $617.5M | $613.7M |
R&D Spending
R&D (TTM)
$619.0M
R&D Intensity
—
R&D Growth YoY
+15.1%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $2.9M | $17.5M | $57.1M | $860.0K | $1.8M | $705.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $23.9M | $23.7M | $41.0M | $49.1M | $53.3M | $85.4M | $52.0M | $59.5M | $150.8M | $537.7M | $619.0M | |
| R&D % of Revenue | — | 822.4% | 234.3% | 86.0% | 6194.7% | 4718.2% | 7375.7% | — | — | — | — | |
| SG&A | $7.5M | $9.6M | $13.7M | $17.0M | $19.2M | $23.6M | $26.7M | $29.3M | $60.2M | $556.7M | $603.7M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $2.9M | $17.5M | $57.1M | $860.0K | $1.8M | $705.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $97.0K | $700.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $2.9M | $17.4M | $56.4M | $860.0K | $1.8M | $705.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $23.9M | $23.7M | $41.0M | $49.1M | $53.3M | $85.4M | $52.0M | $59.5M | $150.8M | $537.7M | $619.0M | |
| SG&A | $7.5M | $9.6M | $13.7M | $17.0M | $19.2M | $23.6M | $26.7M | $29.3M | $60.2M | $556.7M | $603.7M | |
| Operating Income | $-29.7M | $-30.4M | $-33.7M | $10.0M | $-52.3M | $-86.2M | $-63.6M | $-88.7M | $-211.0M | $-1.09B | $-1.22B | |
| Interest Expense | $-382.0K | $-1.1M | $-1.1M | $-620.0K | $-255.0K | $-242.0K | $-4.4M | $-16.5M | $-8.7M | $0.00 | $0.00 | |
| Pretax Income | $-33.0M | $-32.1M | $-33.9M | $9.1M | $-52.9M | $-88.6M | $-78.8M | $-614.9M | $-221.3M | $-1.08B | $-1.21B | |
| Net Income | $-28.7M | $-26.7M | $-28.5M | $10.9M | $-52.7M | $-88.6M | $-78.8M | $-614.9M | $-221.3M | $-1.08B | $-1.21B | |
| EPS (Diluted) | -0.48 | -0.44 | -0.44 | 0.63 | -0.76 | -0.67 | -0.41 | -0.99 | -0.31 | -1.44 | -1.60 | |
| EBITDA | $-32.6M | $-31.0M | $-32.2M | $11.7M | $-50.7M | $-85.9M | $-73.1M | $-598.3M | $-212.5M | $-1.08B | $-1.21B | |
| Shares Out. (M) | 59.10 | 61.55 | 65.43 | 17.23 | 69.52 | 131.71 | 193.34 | 619.65 | 718.54 | 747.70 | 775.46 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $23.2M | $35.1M | $28.5M | $35.2M | $66.4M | $71.8M | $348.6M | $71.4M | $104.9M | $225.3M | $106.5M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $114.8M | $307.5M | $488.2M | $492.2M | |
| Total Current Assets | $29.7M | $41.7M | $50.7M | $61.2M | $87.7M | $97.3M | $656.7M | $189.7M | $423.8M | $720.3M | $616.6M | |
| Total Assets | $35.7M | $47.0M | $78.1M | $79.5M | $102.5M | $113.4M | $664.2M | $202.9M | $435.6M | $751.2M | $647.9M | |
| Total Current Liabilities | $4.6M | $13.6M | $32.5M | $17.2M | $19.9M | $25.6M | $38.8M | $20.4M | $41.7M | $73.0M | $83.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $494.5M | $100.0M | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $12.8M | $51.3M | $82.6M | $23.7M | $23.0M | $30.1M | $537.5M | $125.3M | $46.8M | $92.3M | $101.9M | |
| Stockholders' Equity | $22.9M | $-4.4M | $-4.5M | $55.8M | $79.5M | $83.3M | $126.7M | $77.7M | $388.7M | $658.9M | $545.9M | |
| Retained Earnings | $-74.6M | $-92.2M | $-132.9M | $-99.8M | $-210.9M | $-299.5M | $-378.3M | $-993.3M | $-1.21B | $-2.29B | $-2.48B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-24.5M | $15.2M | $-20.6M | $-35.1M | $-48.1M | $-72.6M | $-41.6M | $-76.8M | $-142.1M | $-322.9M | $-384.1M | |
| Capital Expenditure | $-94.0K | $-110.0K | $-678.0K | $-164.0K | $-421.0K | $-306.0K | $-624.0K | $-128.0K | $-139.0K | $-657.0K | $-480.0K | |
| Free Cash Flow | $-24.6M | $15.1M | $-21.3M | $-35.3M | $-48.5M | $-72.9M | $-42.2M | $-76.9M | $-142.2M | $-323.6M | $-384.5M | |
| Investing Cash Flow | $-51.0K | $-100.0K | $-7.4M | $-331.0K | $-421.0K | $-306.0K | $-624.0K | $-587.8M | $-205.3M | $-174.3M | $-334.7M | |
| Financing Cash Flow | $31.5M | $516.0K | $19.5M | $44.5M | $50.6M | $77.9M | $620.2M | $86.5M | $381.2M | $617.5M | $613.7M | |
| Issuance of Stock | $37.2M | $0.00 | $21.1M | $46.1M | $50.0M | $75.0M | $100.0M | $109.7M | $477.9M | $604.6M | $604.6M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $110.0M | $545.0M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $-181.0K | $0.00 | $0.00 | $-110.0M | $-25.0M | $-24.7M | $-100.0M | $0.00 | $0.00 | |
| Stock Based Comp. | $1.7M | $1.7M | $2.3M | $6.3M | $1.8M | $12.8M | $11.9M | $14.1M | $51.0M | $732.4M | $794.1M | |
| Net Change in Cash | $7.2M | $14.7M | $-11.3M | $6.8M | $2.6M | $5.4M | $576.8M | $-577.2M | $33.8M | $120.4M | $-105.0M |
Dilution Tracker
Shares outstanding grew 488.7% over 5 years — significant dilution
Shares Outstanding
775M
5-Year Share Growth
+488.7%
Stock Issuance (TTM)
$604.6M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 59.10 | 61.55 | 65.43 | 17.23 | 69.52 | 131.71 | 193.34 | 619.65 | 718.54 | 747.70 | 775.46 | |
| YoY Change % | — | 4.1% | 6.3% | -73.7% | 303.5% | 89.5% | 46.8% | 220.5% | 16.0% | 4.1% | 3.7% | |
| Stock Issuance | $37.2M | $0.00 | $21.1M | $46.1M | $50.0M | $75.0M | $100.0M | $109.7M | $477.9M | $604.6M | $604.6M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.7M | $1.7M | $2.3M | $6.3M | $1.8M | $12.8M | $11.9M | $14.1M | $51.0M | $732.4M | $794.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 99.4% | 98.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | -1055.5% | -192.6% | 17.5% | -6081.6% | -4763.7% | -9024.3% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | -927.5% | -163.1% | 19.0% | -6127.6% | -4897.8% | -11174.8% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | -1075.8% | -184.0% | 20.4% | -5889.8% | -4748.8% | -10371.3% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 523.1% | -121.5% | -61.8% | -5643.3% | -4029.5% | -5986.7% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | -135.2% | -288.2% | 0.0% | 42.4% | -77.9% | -108.9% | -75.1% | -601.9% | -94.9% | -206.1% | -301.4% | |
| ROA % | -88.4% | -64.6% | -45.6% | 13.8% | -57.9% | -82.1% | -20.3% | -141.8% | -69.3% | -181.9% | -254.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / 16.15 / 34.37
Industry Med.27.41
P/S—
Historical1.54 / 366.00 / 31930.00
Industry Med.9.51
P/B21.66
Historical0.54 / 7.75 / 186.73
Industry Med.2.93
EV/EBITDA-9.29
Historical-38.98 / -8.28 / 1699.17
Industry Med.13.14
EV/Revenue—
Historical0.10 / 289.09 / 100769.67
Industry Med.8.71
P/FCF—
Historical21.35 / 46.15 / 61.46
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$0.70
Net Current Assets
$0.660
Net-Net Working Capital
$0.64
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | 2.11 | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | 222.77 | 51.42 | 0.40 | 391.67 | 192.14 | 1062.50 | - | - | - | 0.00 | |
| PB Ratio | 4.82 | 0.00 | 0.00 | 0.76 | 4.89 | 3.17 | 7.08 | 23.51 | 33.86 | 20.58 | 21.66 | |
| EV/EBITDA | -2.67 | -3.05 | -5.45 | 0.75 | -6.36 | -2.27 | -14.60 | -2.93 | -60.03 | -11.92 | -9.29 | |
| EV/Revenue | 0.00 | 32.78 | 10.02 | 0.15 | 374.59 | 107.64 | 1513.89 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
1
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $3.18M | $73.84M | $702.45M |
| Net Income | $-854.62M | $-910.21M | $-698.44M |
| EPS | -1.12 | -1.14 | -0.91 |
| Book Value per Share | 0.10 | 0.01 | 0.56 |
| Operating Cash Flow per Share | -0.70 | -0.49 | 0.56 |
| Operating CF | $-542.82M | $-379.97M | $434.26M |
Dividends
Revenue Segments
By Business
| Segment | 2022 |
|---|---|
| Licensing agreements | $705.0K |
By Geography
| Segment | 2022 |
|---|---|
| Latin America | $705.0K |