---
schema_version: "secwatch.filing_event.v1"
accession: "0001599298-22-000120"
form_type: "8-K"
ticker: "SMMT"
cik: "0001599298"
company_name: "Summit Therapeutics Inc."
filed_at: "2022-11-09T23:59:59+00:00"
generated_at: "2026-06-22T01:18:01.167006+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001599298-22-000120
- form_type: 8-K
- ticker: SMMT
- cik: 0001599298
- company_name: Summit Therapeutics Inc.
- filed_at: 2022-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1599298/000159929822000120/0001599298-22-000120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1599298/000159929822000120/smmt-20221109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001599298-22-000120
- JSON: https://secwatch.observer/filing/0001599298-22-000120.json
- Plain text: https://secwatch.observer/filing/0001599298-22-000120.txt

## Key facts
- Earnings Releases
  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
  source text: On November 9, 2022, Summit Therapeutics Inc. (the "Company") announced its financial results and operational progress for the third quarter ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599298/000159929822000120/0001599298-22-000120-index.htm

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