HIGHBuilt-in & outside partyPipeline
ivonescimab
“10-K Item 1A: 'We depend heavily on the success of ivonescimab. If we are unable to successfully develop and commercialize ivonescimab, or experience significant delays in doing so'”
SMMT · Concentration risk · 10-K extracted
Summit Therapeutics (SMMT) concentration risks
Updated
The most significant concentration Summit Therapeutics discloses is ivonescimab, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Summit Therapeutics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCounterparty
Akeso license
“10-K Item 1A: 'We depend on our relationship with, and the intellectual property licensed from Akeso'”
HIGHOutside partySupplier
Akeso
“10-K Item 1A: 'We rely on the use of third parties, including Akeso, to manufacture our product candidate'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile is tightly concentrated on a single pipeline asset and a single licensing and manufacturing counterparty, with all three disclosed claims at the high-share level. The business depends heavily on the success of ivonescimab, a high-share pipeline dependency with a mixed character — the scientific platform is built around this molecule, but clinical and regulatory outcomes are binary events not within management's control. A failure in clinical development or regulatory rejection would fundamentally impair the company's prospects given the absence of other disclosed commercial-stage or late-stage assets. The dependency on ivonescimab is inseparable from the company's relationship with Akeso: the intellectual property and technology underlying the drug candidate are licensed from Akeso, a high-share dependency whose terms govern what the company can do with ivonescimab commercially and geographically. Any deterioration in that licensing relationship, change in the terms, or dispute over intellectual property would affect the company's rights to the asset it depends on. Manufacturing adds a third high-share dependency through the same counterparty: the company relies on Akeso, among other third parties, to manufacture the product candidate. This means Akeso is simultaneously the licensor, the IP holder, and a manufacturing partner — a degree of counterparty concentration within a single relationship that is unusual. A single adverse event at Akeso would affect the license, the supply chain, and potentially the development program simultaneously. Together these three exposures converge on a single external relationship, making the Akeso counterparty and ivonescimab program outcome the dominant variables in the entire concentration profile.
For the engine’s reasoning on SMMT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| SMMT● | Summit Therapeutics Inc. | 3 | 0 | 0 | 3 |
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.