Fundz

Summit Therapeutics

Biotechnology, Health Care, Therapeutics · 1,000 employees

Summit Therapeutics’ mission is to resolve serious, unmet medical needs for the betterment of overall human health.

Funding history

  • Funding Round — $235.0M — Sep 2024
  • Funding Round — $200.0M — Jun 2024
  • Funding Round — $50.0M — Nov 2020
  • Funding Round — $47.4M — Jan 2020
  • Funding Round — $25.0M — Jan 2019

Recent signals

  • Jun 10, 2026: SEC 8-K (7.01): On June 10, 2026, Summit Therapeutics Inc. announced the withdrawal of its proposed underwritten public offering of securities due to unfavorable market conditions. Consequently, no securities will be sold as part of this offering. This decision reflects the company's strategic responsiveness to current market dynamics and aims to preserve financial stability. The announcement clarifies that this report does not constitute an offer or solicitation for the sale of any securities.
  • May 30, 2026: SEC 8-K (8.01): On May 30, 2026, Summit Therapeutics Inc. announced new results from their AK112-206 trial, a Phase II study in first-line metastatic colorectal cancer, co-sponsored with Akeso, Inc. The press release detailed the ongoing development of ivonescimab. Additionally, on May 31, 2026, they acknowledged that Akeso published results from the Phase III HARMONi-6 trial, a study conducted in China. These updates are significant for investors as they showcase advancements in cancer research and potential market implications for both Summit Therapeutics and Akeso.
  • Feb 23, 2026: SEC 8-K (2.02): On February 23, 2026, Summit Therapeutics Inc. announced its financial results and operational progress for the fourth quarter and full year ending December 31, 2025. This report includes key financial metrics, operational achievements, and strategic developments over the past year, indicating the company's performance and future outlook. The results are part of the company's ongoing commitment to transparency and shareholder communication. The press release, contained as Exhibit 99.1, provides detailed insights into the financial performance, including revenue figures and any pertinent changes in operations or management strategies.
  • Jan 29, 2026: SEC 8-K (8.01): On January 29, 2026, Summit Therapeutics Inc. announced via press release that the FDA has accepted for filing its Biologics License Application for ivonescimab, to be used in combination with chemotherapy for patients with epidermal growth factor receptor-mutated locally advanced or metastatic non-squamous non-small cell lung cancer who have undergone prior tyrosine kinase inhibitor therapy. The application has a Prescription Drug User Fee Act goal action date set for November 14, 2026, which indicates the FDA's timeline for reviewing the application. This development is significant for the company as it seeks to expand treatment options for a challenging cancer subtype, potentially influencing future revenue streams and stock performance.
  • Oct 21, 2025: SEC 8-K (1.01): On October 21, 2025, Summit Therapeutics Inc. entered into multiple securities purchase agreements with accredited investors for a private placement of 26,682,846 shares of its common stock at a price of $18.74 per share. This transaction is expected to generate approximately $500 million in gross proceeds for the company. Key parties involved include Robert W. Duggan, Co-Chief Executive Officer and Executive Chairman, and Dr. Mahkam Zanganeh, Co-Chief Executive Officer and President. The closing price of the stock on the transaction date underscores the strategic importance of this agreement for funding future initiatives and operations.
  • Jul 03, 2025: Summit Therapeutics and AstraZeneca Engage in $15 Billion Partnership Talks for Lung-Cancer Drug Licensing.
  • Feb 17, 2025: Summit Therapeutics Grants Inducement Awards of Options to New Employees under Nasdaq Listing Rule 5635(c)(4)
  • Sep 26, 2024: Raised $235.0M

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