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.

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