Summit Therapeutics Inc. · NASDAQ:SMMT
Summit Therapeutics — Q1 2024 Earnings Presentation
14 slides from Summit Therapeutics's earnings presentation, May 1, 2024
Slide 1: Summit Therapeutics Q1 2024 Earnings Call
Summit Therapeutics Q1 2024 Earnings Call May 1, 2024 9:00am ET
Slide 2: Forward Looking Statement
Forward Looking Statement 2 Any statements in this presentation about the Company’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s p
Slide 3: Company Details
Company Details Focus ONCOLOGY Partnership Akeso Inc. Summit License Territories United States, Canada, Europe, Japan Chief Executive Officers Bob Duggan Chairman & CEO Dr. Maky Zanganeh CEO & President NASDAQ SMMT Market Cap $2.8B† Cash $157M** Employees 110+† Offices Miami, FL Menlo Park, CA Oxfor
Slide 4: Partnership with Akeso: An Aligned Mission
Partnership with An Aligned Mission Bringing ivonescimab to patients around the world Summit is actively recruiting two Phase III NSCLC clinical trials LEADING BIOPHARMA COMPANY IN CHINA Michelle Xia, Ph.D. Co-Founder, Chairwoman, President and CEO Over 2,800 Employees End-to-end In-house Capabiliti
Slide 5: Ivonescimab: Cooperative Binding Greater Than the Sum of Its Parts
VEGF Dimer PD-1 Receptor in T Cell Increased Avidity in TME VEGF increases affinity to PD-1 by >18X4 PD-1 increases affinity to VEGF by >4X4 (in vitro) Enhanced Activity of T Cells VEGF dimer leads to potential interconnection of ivonescimab molecules, which may increase activity of T cells4,5 Simul
Slide 6: Ivonescimab Clinical Trials by Indication and Phase
Trial Indication Histology/Population Regimen Phase III NSCLC EGFRm+ 2L+ Advanced or Metastatic Combo ivonescimab + chemo vs. placebo + chemo NSCLC Squamous 1L Metastatic Combo ivonescimab + chemo vs. pembro + chemo Indication Regimen Phase I Phase II Phase III NSCLC: 2L EGFRm+ Randomized: Combo (ch
Slide 7: Intracranial Responses and Progression-Free Survival in Phase II
• IC response rate 39% with chemo (25% CRs) by RANO • IC response rate 14% for ivonescimab monotherapy (14% CRs) • Median IC PFS 19.3 months across both cohorts Zhang L, et al., ELCC 2024, poster #174P Range of Intracranial Responses (RANO criteria) and Intracranial Progression-Free Survival in Phas
Slide 8: Ivonescimab Alone or in Combination with Chemo: CNS Activity
Zhang L, et al., ELCC 2024 poster #FPN 174P Ivonescimab Alone or in Combination with Chemo: CNS activity Intracranial Response Rates (RANO Criteria) Safety of ivonescimab in patients with untreated brain metastasis in Phase II • No cases of intracranial hemorrhage identified among these patients wit
Slide 9: Intracranial Activity of Ivonescimab in Phase II
Ivonescimab + Chemo (Partial Response) Ivonescimab Monotherapy (Complete Response) Zhang L, et al., ELCC 2024, poster #174P Intracranial (IC) Activity of Ivonescimab in Phase II 9 Summit Proprietary Information - Do Not Copy, Photograph or Distribute Summit Therapeutics Q1 2024 Earnings Call, May 20
Slide 10: Ivonescimab Clinical Trials by Indication and Phase
Trial Indication Histology/Population Regimen Phase III NSCLC EGFRm+ 2L+ Advanced or Metastatic Combo ivonescimab + chemo vs. placebo + chemo NSCLC Squamous 1L Metastatic Combo ivonescimab + chemo vs. pembro + chemo Indication Regimen Phase I Phase II Phase III NSCLC: 2L EGFRm+ Randomized: Combo (ch
Slide 11: Financial Summary Q1'24 vs. Q4'23 vs. Q1'23
Financial Summary Q1’24 vs. Q4’23 vs. Q1’23 Key Items as of March 31, 2024: • Cash and cash equivalents, restricted cash and short-term investments $157M • Total shares outstanding 702M Updated Cash Guidance: • Cash runway through Q1’2025 1) Excludes stock-based compensation 2) Excludes a one-time c
Slide 12: Schedule Reconciling Selected Non-GAAP Financial Measures
Schedule Reconciling Selected Non-GAAP Financial Measures Note 1: Stock-based compensation is a non-cash charge and costs calculated for this expense can vary year-over-year depending on the stock price of awards on the date of grant as well as the timing of compensation award arrangements. Note 2:
Slide 13: Schedule Reconciling Selected Non-GAAP Financial Measures
Schedule Reconciling Selected Non-GAAP Financial Measures Note 1: Stock-based compensation is a non-cash charge and costs calculated for this expense can vary year-over-year depending on the stock price of awards on the date of grant as well as the timing of compensation award arrangements. Note 2:
Slide 14: Summit Therapeutics Q1 2024 Earnings Call
Summit Therapeutics Q1 2024 Earnings Call May 1, 2024 9:00am ET