Summit Therapeutics raises $500M in private placement at $18.74/share; insiders invest $282M

Summit Therapeutics Inc.

Raised $500M gross and net proceeds from sale of 26.68M shares at $18.74 each, the closing price on Oct 21, 2025.
Insiders including Duggan, Zanganeh, Soni, Anand contributed $272M; Akeso added $10M, total insider investment $282M.
Proceeds will fund clinical development of ivonescimab and general corporate purposes.
Closing expected on or before October 28, 2025, subject to customary conditions.
Shares issued in a private placement exempt from registration; resale registration to be filed by Dec 19, 2025.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Summit Therapeutics Inc. issued 26,682,846 shares of common stock to multiple leading biotech institutional and individual accredited investors for $18.74 per Share.

Security: common stock
Shares: 26,682,846 shares
Purchaser: multiple leading biotech institutional and individual accredited investors
Consideration: $18.74 per Share

Exact text from the filing

On October 21, 2025, Summit Therapeutics Inc. (the “Company”) entered into securities purchase agreements (the “Purchase Agreements”) with multiple leading biotech institutional and individual accredited investors (the “Investors”), for the sale by the Company in a private placement (the “Private Placement”) of an aggregate of 26,682,846 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at purchase price of $18.74 per Share, which was the closing price of the Common Stock on October 21, 2025, for aggregate gross proceeds to the Company of approximately $500.0 million.

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Summit Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-245790

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