Summit reports preliminary cash of at least $648M; shareholders authorize share increase and reverse split

Summit Therapeutics Inc.

Preliminary unaudited cash, equivalents and escrow balance no less than $648M as of Dec 31, 2022.
Includes $300M upfront to Akeso held in escrow pending HSR clearance for ivonescimab license.
Stockholders approved increasing authorized shares from 350M to 1B and a reverse stock split (1:5 to 1:10), board discretion within one year.
Company to present at 41st J.P. Morgan Healthcare Conference on Jan 9, 2023, highlighting ivonescimab.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

Summit Therapeutics Inc. shareholders approved Amendment to Restated Certificate to increase authorized shares of common stock from 350,000,000 to 1,000,000,000 at the 2023-01-06 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-01-06

Exact text from the filing

Proposal 1 For Against Abstain Broker Amendment No. 2 to Restated Certificate of Incorporation to increase the number of authorizes shares of common stock 188,470,028 1,585,907 165,798 —

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

Summit Therapeutics Inc. shareholders approved Amendment to Restated Certificate to effect a reverse stock split at a ratio in the range of 1-for-5 to 1-for-10 at the 2023-01-06 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-01-06

Exact text from the filing

Proposal 2 For Against Abstain Broker Amendment No. 2 to Restated Certificate of Incorporation to effect a reverse stock split of the outstanding common stock 186,585,821 3,607,721 28,191 —

View on SEC.gov

63 shareholder votes filed in the last 30 days. Browse all shareholder votes →

Summit Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001599298-23-000009

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.