Summit Therapeutics Q3 net loss $21.4M; raised $99.9M net via rights offering

Summit Therapeutics Inc.

2022-Q3 EPS reported -$0.52 revenue$705,000

Net loss $21.4M for Q3 2022 vs $19.6M prior year; 9-month net loss $59.6M vs $61.5M.
Cash and receivables $138.4M at Sep 30, 2022, up from $89.0M at Dec 31, 2021; cash $122.0M.
Fully subscribed Rights Offering raised $100M gross at $0.97/share, net $99.9M after $0.1M costs.
Proceeds repaid $25M note plus accrued interest to Chairman/CEO Robert Duggan.
Elevated Dr. Mazy Zanganeh to Co-CEO & President; discontinued pediatric ridinilazole trial; seeking partner.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

Summit Therapeutics Inc. reported financial results for the third quarter ended September 30, 2022.

Period: the third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 9, 2022, Summit Therapeutics Inc. (the "Company") announced its financial results and operational progress for the third quarter ended September 30, 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Summit Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001599298-22-000120

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