🔴 Summit Therapeutics is trading 8.9% down today after wider Q2 loss and ivonescimab data update

Summit Therapeutics is trading at $13.65 (8.9% down) after reporting a wider second-quarter loss and providing updated Phase III HARMONi data for ivonescimab.

• The company reported a wider quarterly loss driven by heavy R&D spending and operational scaling ahead of the upcoming ivonescimab PDUFA date.
• Shares are experiencing profit-taking and heightened volatility following several strong trading sessions earlier this week.