Welcome to our dedicated page for Summit Therapeutics news (Ticker: SMMT), a resource for investors and traders seeking the latest updates and insights on Summit Therapeutics stock.
Summit Therapeutics Inc. (NASDAQ: SMMT) is a biopharmaceutical oncology company whose news flow is closely tied to the development of its lead investigational therapy, ivonescimab (SMT112 in Summit’s territories). Ivonescimab is described by the company as a potential first-in-class bispecific antibody targeting PD-1 and VEGF in a single molecule, and it is being evaluated in multiple Phase III clinical trials in non-small cell lung cancer (NSCLC) and colorectal cancer (CRC).
News about Summit frequently covers clinical milestones for ivonescimab, including updates from the global Phase III HARMONi trial in EGFR-mutated NSCLC after third-generation EGFR TKI therapy, as well as HARMONi-3 and HARMONi-7 in first-line metastatic NSCLC and HARMONi-GI3 in first-line unresectable metastatic CRC. Company announcements have highlighted progression-free survival and overall survival data, hazard ratios, response rates, and safety profiles, along with presentations at major conferences such as the World Conference on Lung Cancer, SITC, and ESMO.
Investors following SMMT news will also see regulatory and corporate updates, including Summit’s submission of a Biologics License Application to the U.S. FDA for ivonescimab plus chemotherapy in EGFR-mutated NSCLC, Fast Track designation for the HARMONi setting, and summaries of Akeso’s HARMONi-A trial in China, which demonstrated a statistically significant overall survival benefit for ivonescimab plus chemotherapy versus chemotherapy alone.
Additional news items cover financing activities such as private placements and at-the-market offerings, inducement stock option grants under Nasdaq Listing Rule 5635(c)(4), and collaboration announcements. Notably, Summit has reported a clinical trial collaboration with GSK plc to evaluate ivonescimab in combination with GSK’s investigational B7-H3-targeting antibody-drug conjugate, risvutatug rezetecan (GSK’227), across multiple solid tumor settings including small cell lung cancer.
For readers tracking SMMT, the news stream provides insight into Summit’s late-stage oncology pipeline, regulatory interactions, capital-raising efforts, and partnerships that shape the company’s development path.
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Summit Therapeutics (SMMT) reported its financial results for the fourth quarter and year ending December 31, 2022. The company is progressing with its Collaboration and License Agreement with Akeso, acquiring rights to ivonescimab, a bispecific antibody for cancer treatment, for an upfront payment of $500 million. Key financials include a net loss of $78.8 million for the year, a significant decrease from $88.6 million in 2021. Summit raised $500 million in a Rights Offering to fund ongoing operations, with sufficient capital expected to cover expenses into late 2024. An earnings call is scheduled for March 9, 2023.
Summit Therapeutics has announced the successful closing of a $500 million rights offering, resulting in the sale of approximately 476.2 million shares at $1.05 per share. This offering generated net proceeds of about $499.5 million after expenses. With these funds, the company aims to support its operations, particularly focusing on ivonescimab (SMT112), into the second half of 2024. The company will host a Q4 earnings call on March 9, 2023, at 9:00 am ET.
Summit Therapeutics Inc. (NASDAQ: SMMT) is conducting a rights offering aimed at raising up to
Summit Therapeutics Inc. (NASDAQ: SMMT) announced a rights offering scheduled for February 6, 2023, allowing current shareholders to purchase up to 476,190,476 shares of Common Stock at a price of $1.05 or the volume weighted-average price over the five days leading to the offering's expiration on March 1, 2023. If fully subscribed, the offering could generate gross proceeds of $500 million. Notably, CEO Robert W. Duggan and Co-CEO Maky Zanganeh plan to participate in the offering. A registration statement for the offering has been filed with the SEC but is yet to be effective. Investors are advised to read the final prospectus once available.
Summit Therapeutics Inc. (NASDAQ: SMMT) has finalized a definitive agreement with Akeso Inc. to in-license ivonescimab, a bispecific antibody aimed at treating non-small cell lung cancer (NSCLC). Summit will pay an upfront fee of
Summit Therapeutics (NASDAQ: SMMT) will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 3:45 PM PST. Robert W. Duggan, Chairman and CEO, along with Dr. Maky Zanganeh, Co-CEO and President, will discuss the newly licensed bispecific antibody, ivonescimab (SMT112). Additionally, a Special Meeting of Stockholders is scheduled for January 6, 2023, at 10:00 AM PST. Summit aims to develop innovative therapies that enhance quality of life and address significant healthcare needs.
Summit Therapeutics Inc. (SMMT) has entered a definitive agreement with Akeso Inc. for a $500 million upfront payment to in-license ivonescimab, a bispecific antibody aimed at oncology treatments. This partnership allows Summit to develop and commercialize ivonescimab in the U.S., Canada, Europe, and Japan, while Akeso retains rights in other regions. The deal could reach a total value of $5 billion, contingent on regulatory milestones. Additionally, Summit is launching a rights offering to raise up to $500 million to support clinical development activities.
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