$500M common stock offering announcement drives SMMT 8.68% drop
Summit Therapeutics Inc. is a biopharmaceutical firm dedicated to discovering, developing, and commercializing therapeutic solutions, primarily targeting infectious diseases across the United States and Latin America. The company's clinical development pipeline is heavily concentrated on therapies for Clostridioides difficile infection (CDI). Its flagship product candidate, ridinilazole, is an orally administered small molecule antibiotic currently advancing through Phase III clinical trials as a treatment for CDI. Beyond its lead asset, Summit Therapeutics is also progressing SMT-738, designed to combat multidrug-resistant infections, notably carbapenem-resistant Enterobacteriaceae (CRE). Additionally, its DDS-04 series represents a potential therapeutic avenue for various infections caused by the Enterobacteriaceae family of bacteria. Established in 2003, the company maintains its headquarters in Cambridge, Massachusetts.
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $704.29K | $1.81M | $860.00K | $56.41M | $17.50M | $2.88M |
| Cost of Revenue | $15.01M | $2.05M | $2.51M | N/A | N/A | $25.00K | $97.00K | N/A |
| Gross Profit | $-15.01M | $-2.05M | $-1.81M | $1.81M | $860.00K | $56.39M | $17.40M | $2.88M |
| Gross Margin | 0.00% | 0.00% | -256.99% | 100.00% | 100.00% | 99.96% | 99.45% | 100.00% |
| Operating Expenses | $-15.32M | $87.69M | $57.82M | $88.00M | $54.05M | $51.00M | $53.96M | $33.95M |
| Operating Income | $313.00K | $-89.74M | $-59.63M | $-86.19M | $-53.19M | $5.39M | $-36.56M | $-31.07M |
| Operating Margin | 0.00% | 0.00% | -8467.05% | -4764.29% | -6185.23% | 9.55% | -208.97% | -1078.65% |
| Net Income | $-221.31M | $-614.93M | $-78.78M | $-88.60M | $-52.70M | $9.87M | $-28.53M | $-21.37M |
| Net Margin | 0.00% | 0.00% | -11185.94% | -4897.84% | -6127.56% | 17.50% | -163.09% | -742.05% |
| EPS (Basic) | $-0.31 | $-0.99 | $-0.41 | $-0.96 | $-0.76 | $0.11 | $-0.16 | $-0.43 |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Stock Option Compensation Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price To Earnings Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |