---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-217618"
form_type: "8-K"
ticker: "SMMT"
cik: "0001599298"
company_name: "Summit Therapeutics Inc."
filed_at: "2024-09-12T23:59:59+00:00"
generated_at: "2026-05-31T05:14:03.377020+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Summit Therapeutics raises $235M in private placement led by insiders at $22.70/share

## Summary
- Sold 10.35M shares at $22.70, the closing price on Sept 11; aggregate gross proceeds ~$235M.
- $79M raised from insiders including CEO Robert Duggan, Dr. Zanganeh, Soni, Anand, and director Jeff Huber.
- Remaining $156M from multiple leading biopharma institutional investors; no bankers' fees.
- Proceeds to advance ivonescimab clinical development in NSCLC and other cancers, plus working capital.
- Company will file a resale registration statement with SEC after closing expected by Sept 18, 2024.

## SEC filing metadata
- accession: 0001193125-24-217618
- form_type: 8-K
- ticker: SMMT
- cik: 0001599298
- company_name: Summit Therapeutics Inc.
- filed_at: 2024-09-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1599298/000119312524217618/0001193125-24-217618-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1599298/000119312524217618/d799002d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-217618
- JSON: https://secwatch.observer/filing/0001193125-24-217618.json
- Plain text: https://secwatch.observer/filing/0001193125-24-217618.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.