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Summit Therapeutics Inc.
2/20/2024
Hello, everyone. First and foremost, we'd like to apologize for the delay of this event. Good morning and welcome to Summit fourth quarter and year end 2023 earnings call. All participants will be able to listen only until the question and answer portion of this call. We do not expect any technical difficulties today forward. However, in the event that we lose the webcast connection and we are unable to provide any updates, please wait up to 10 minutes for resolution. Please refer to the company's website for updates. Please note that today's call is being recorded. If you'd like to ask a question during that time, please press the star button followed by the number one on your telephone keypad. If you'd like to withdraw your question, please press star and number one again. At this time, I would like to turn the call over to Dave Gunkars, Summit Therapeutics Chief Business and Strategy Officer. You may now proceed, please.
Good morning, and thank you for joining us. Our press release was issued earlier this morning and is available on the homepage of our website. Our Forms 10-K and S-3 were also filed earlier this morning and are available on our website. Today's call is being simultaneously webcast, and an archived replay will also be made available later today on our website, www.smmttx.com. Joining me on the call today is Bob Duggan, our Chairman of the Board and Chief Executive Officer, Dr. Mekhi Zangane, our Chief Executive Officer and President, Manmeet Soni, our Chief Operating Officer, Ankur Dhingra, our Chief Financial Officer, and Dr. Alan Yang, our Chief Medical Officer. Before we get started with the rest of the call, I would like to note that some statements made by our management team and some responses to questions that we may make today may be considered forward-looking statements based on our current expectations. Summit cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Please refer to our SEC filings for information about these risks and uncertainties. Summit undertakes no obligation to update these forward-looking statements, except as required by law. Following comments from Bob, Mechie, and Ankur, we will take questions. With that, I will turn the call over to Bob.
Thank you, Dave. Good morning, everyone, and thank each of you for joining us today. I'd like to say a few words about our progress and what Team Summit has accomplished. Then I will hand it over to McKee to add more color, and then Ankur will provide financial updates. It has been just one year since we closed on our partnership with the KESO, and I'm very proud of the accomplishments and impressive progress Team Summit has made in this period of time. Avenisumab, our lead investigational compound and the only PD-1 VEGF bispecific antibody in Phase III in Summit's territories, continues to actively enroll two registrational base three trials in non-small cell lung cancer are Harmony and Harmony 3 trials. In Harmony, we are looking at avanisumab in combination with chemotherapy as a second line treatment for non-small cell lung cancer patients with EGFR mutations with disease progression after receiving a third generation TKI. In Harmony 3, We are studying avonisumab in combination with chemotherapy as first-line treatment for patients with squamous cell carcinoma of the lung in a head-to-head trial against the current standard of care. We treated our first patient in the Harmony 3 study, our second Phase 3 study in the fourth quarter of 2023. Combined, the two populations represented by these two clinical trials account for approximately 120,000 patients in our licensed territories for whom abonissimab could potentially offer a better treatment option. Team Summit's conviction and our belief in abonissimab continues to drive our progress forward in our efforts to collapse time and reach critical milestones faster. We approach these efforts with the intent of helping patients improve quality of life, increase the potential duration of life, and resolve serious medical needs in line with Summit's strongly held mission statement. McKee and I are appreciative and honored to be leading Team Summit, where our accomplished leaders and team members have unparalleled track records for high-speed execution that delivers intended results. This experience and our expertise are foundational to achieving our goals for 2024 and beyond, continuing to execute on our Phase III clinical trials while expanding our clinical development plan. With that, I would like to turn it over to McKee. to provide additional context for our accomplishments and next steps.
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