Here are the 424B prospectus supplements from Summit Therapeutics Inc. (SMMT) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow SMMT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SMMT filings page.
Summit Therapeutics Inc. (SMMT) registered up to 108,955,369 shares of common stock for resale by AstraZeneca Holdings B.V., issuable upon conversion of preferred stock. Summit is not selling shares in this supplement and will receive no proceeds from the resale.
The shares stem from a private placement that closed October 5, 2026: Summit issued 108,955.3686 Class A Convertible Preferred Stock shares for $2.0 billion in aggregate gross proceeds, at $18,356.14 per preferred share. Each preferred share converts into 1,000 common shares; the purchase price was based on $18.3561 per common share. AstraZeneca may sell some, all or none at prevailing market prices, prices related to prevailing market prices or privately negotiated prices, subject to the Purchase Agreement.
Summit’s Q1 2026 report concluded there was substantial doubt about its ability to continue as a going concern because March 31, 2026 cash, cash equivalents and short-term investments were insufficient to fund planned operations for the twelve months after that report’s issuance. Summit bears registration costs other than the selling stockholder’s underwriting fees, commissions, discounts and transfer taxes.
Summit Therapeutics Inc. is establishing an at-the-market equity program to issue and sell up to $380,000,000 of common stock through J.P. Morgan Securities LLC as sales agent. Shares may be sold on The Nasdaq Global Market under the symbol SMMT or through other permitted transactions, with the Sales Agent earning up to 3.0% of the gross sales price.
Assuming sales at $14.74 per share, the company illustrates issuance of 25,780,189 shares versus 793,120,362 shares outstanding as of June 30, 2026. Net tangible book value would rise from $0.79 to $1.22 per share, causing illustrative dilution of $13.52 per share to new investors. Proceeds are intended primarily to fund development of lead oncology candidate ivonescimab, including NSCLC, CRC and other solid-tumor trials, and for working capital.
Summit discloses substantial doubt about its ability to continue as a going concern because existing cash and investments do not fund 12 months of planned operations, making additional capital raises important. Recent HARMONi study data showed a hazard ratio of 0.76 for overall survival with ivonescimab and an acceptable safety profile, and Summit entered a clinical collaboration with Arcus Biosciences to evaluate ivonescimab plus casdatifan in clear cell renal cell carcinoma.
Summit Therapeutics Inc. intends to offer $500.0 million of common stock in a registered primary offering, with an at‑the‑market program complement and a 30‑day underwriter option for up to $75,000,000 of additional shares.
The preliminary prospectus supplement states an assumed public offering price of $14.11 per share, implying 35,435,861 shares offered at that price. The company reported 776,017,474 shares outstanding as of March 31, 2026, net tangible book value of $544.0 million (or $0.70 per share), and approximately 118.9 million shares subject to outstanding options or RSUs as of that date. Summit says net proceeds will fund continued development of ivonescimab and for working capital, and notes substantial doubt about its ability to continue as a going concern absent additional funding.