Slide 1: Summit Therapeutics Q2 2026 Earnings Call
Summit Therapeutics Q2 2026 Earnings Call July 23, 2026 4:30pm ET
Slide 2: Forward-Looking Statements
Forward-Looking Statements Any statements in this presentation about uncertainties related to market conditions, data in connection with the development and commercialization activities for the Company’s future expectations, plans and prospects, including but not limited to, ivonescimab, the outcome
Slide 3: Ivonescimab: By The Numbers
Most Advanced, First-in-Class, PD-1/VEGF Bispecific Antibody Anti-VEGF 15 Phase III Trials in Multiple Tumor Types Phase III Trials1 >4,000 Patients Dosed in All Clinical Trials Trial Patients2 Anti-PD-1 4 Positive Phase III Readouts to Date Phase III Trials with The only in-class Positive Results P
Slide 4: Additional Opportunity Globally
In HARMONi: Summit + Akeso Ivonescimab Pipeline with 15 Phase IIIs PHASE STATUS FOCUS AREA STUDY LINE & INDICATION REGIMEN 1 2 3 Approved Advanced EGFRm+ NSCLC Post-TKI ivonescimab + chemo vs. placebo + chemo Active, Not Recruiting Lung Cancer 1L metastatic NSCLC ivonescimab + chemo vs. pembrolizuma
Slide 5: Maturing Data Reinforces Regional Consistency of Ivonescimab Efficacy
Maturing Data Reinforces Regional Consistency of Ivonescimab Efficacy • Efficacy is consistent across geographic regions with longer follow-up • OS HR continues to improve with longer follow-up for Western patients • Consistent safety profile with previous Phase III results of ivonescimab + chemo IT
Slide 6: Ivonescimab Clinical Questions
Ivonescimab Clinical Questions Global Answered China Positive China PFS Significant OS data Translates to RoW PFS achieved in China studies Ivonescimab + Chemo vs. Chemo in EGFRm NSCLC Post-TKI 2 Ivonescimab + Chemo vs. Chemo in EGFRm NSCLC Post-TKI 1 Ivonescimab + Chemo vs. Tislelizumab + Chemo in
Slide 7: Ivonescimab Development: Summit Pipeline
Ivonescimab Ivonescimab Development: Development Summit Pipeline Plan EGFRm NSCLC post-TKI 1L NSCLC 1L NSCLC: PD-L1 High 1L CRC Ivonescimab + chemo vs. Ivonescimab + chemo vs. Ivonescimab vs. Ivonescimab + chemo vs. placebo + chemo pembrolizumab + chemo pembrolizumab bevacizumab + chemo SQ: Enrollme
Slide 8: Three NSCLC Settings: Four Phase III Studies with OS Results HR<0.80
Three NSCLC Settings: Four Phase III Studies with OS Results HR<0.80 (EGFR+, post-3rd Gen TKI) (EGFR+, post-TKI) (1L, squamous) HR=0.78 HR=0.74 HR=0.66 (95% CI: 0.62-0.98, (95% CI: 0.58-0.95, (95% CI: 0.46-0.78, nominal p=0.0332) p=0.019) p<0.0017) Tislelizumab + Chemotherapy V Ivonescimab + Placebo
Slide 9: The Next Exciting Steps for Summit & Ivonescimab
The Next Exciting Steps for Summit & Ivonescimab HARMONi-3 SQ: - Events reached for PFS analysis expected - Corresponding look at OS with PFS 2H26 HARMONi: Anti-VEGF - Updated conference presentation (OS) - BLA PDUFA Date November 14, 2026 Continued New Clinical Trials Acceleration of Clinical Anti-
Slide 10: Ivonescimab Revenue Potential by 2033
Ivonescimab Revenue Potential by 2033 $90B+ $15B+ 2028 PD-(L)1 Addressable Market 2 $20B+ 2028 VEGF Addressable Market 2 50+ Approved Indications for PD-(L)1 & VEGF Therapies 1 Approved Anti-VEGF Therapies Approved Anti PD-(L)1 Therapies Approved Anti PD-(L)1 & Anti-VEGF Therapies Where Summit is cu
Slide 11: Strong Balance Sheet
Strong Balance Sheet $690.7M Cash & Investments as of June 30, 2026 $0 No Debt as of June 30, 2026 Summit Proprietary Information - Do Not Copy or Distribute Ivonescimab is an investigational therapy not presently approved by any regulatory 11 Q2 2026 Earnings Presentation | 7/2026 authority other t
Slide 12: Financial Summary Q2'26 vs. Q1'26
Financial Summary Q2’26 vs. Q1’26 Three Months Ended (in millions) June 30, 2026 March 31, 2026 Total GAAP Operating Expenses $220.5 $195.2 Research and development 157.7 132.6 General and administrative 62.8 62.6 Non-GAAP Operating Expenses $151.8 $122.4 (1) Non-GAAP Research and Development 133.6
Slide 13: Schedule Reconciling Selected Non-GAAP Financial Measures
Schedule Reconciling Selected Non-GAAP Financial Measures Three Months Ended (in millions) June 30, 2026 March 31, 2026 Reconciliation of GAAP to Non-GAAP Research and Development Expense GAAP Research and development $157.7 $132.6 Stock-based compensation (Note 1) (24.1) (24.4) Non-GAAP Research an
Slide 14: Schedule Reconciling Selected Non-GAAP Financial Measures
Schedule Reconciling Selected Non-GAAP Financial Measures Three Months Ended (in millions) June 30, 2026 March 31, 2026 Reconciliation of GAAP Net Loss to Non-GAAP Net Loss GAAP Net Loss ($215.7) ($189.4) Stock-based compensation (Note 1) 68.7 72.8 Non-GAAP Net Loss ($147.0) ($116.6) Reconciliation
Slide 15: Summit Therapeutics Leadership Team
Bob Duggan Dr. Maky Zanganeh Manmeet Soni Dave Gancarz Chairman & Co-Chief President & Co-Chief Chief Operating Chief Business & Executive Officer Executive Officer Officer & Chief Strategy Officer Financial Officer Dr. Allen Yang Dr. Fong Clow Dr. Urte Gayko Dr. Bilal Piperdi Chief R&D Chief Biomet