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"They have less than $300 million in cash. They have a high burn rate, and the company is actually in pretty dire straits. Their last 10Q says cash is not sufficient to fund the company\u0027s planned operations for a period of at least one year. That\u0027s going concern talk."
The analysts express strong caution about Summit Therapeutics (SMMT) given its single-drug focus and significant financial weaknesses, including inadequate cash reserves and a high burn rate. This commentary highlights the company\u0027s potential inability to fund its operations, flagging substantial risks for investors.
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