{"schema_version":"secwatch.filing_event.v1","accession":"0001599298-23-000012","form_type":"8-K","ticker":"SMMT","cik":"0001599298","company_name":"Summit Therapeutics Inc.","filed_at":"2023-01-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.770929+00:00","generated_at":"2026-06-20T12:30:15.118038+00:00","sec_items":["1.01","5.02","5.03","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"Summit closes $500M licensing deal with Akeso for ivonescimab; authorized shares raised to 1B","bullets":["Upfront payment $500M: $300M paid at close ($274.9M cash + 10M shares valued ~$25.1M); $200M due March 5, 2023.","Akeso eligible for up to $4.5B milestones plus low double-digit royalties; Summit gets rights in US, Canada, Europe, Japan.","Dr. Michelle Xia, Akeso CEO, appointed to Summit board.","Authorized shares increased from 350M to 1B; rights offering up to $500M at discount.","Summit ceases investments in Discuva platform; continues SMT-738 IND-enabling activities."],"urls":{"canonical":"https://secwatch.observer/filing/0001599298-23-000012","json":"https://secwatch.observer/filing/0001599298-23-000012.json","markdown":"https://secwatch.observer/filing/0001599298-23-000012.md","text":"https://secwatch.observer/filing/0001599298-23-000012.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/smmt-20230116.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T12:30:15.118038+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3958e2bede","claim":"Dr. Yu (Michelle) Xia was appointed as member of the Board of Directors at Summit Therapeutics Inc..","evidence_excerpt":"the Board of Directors (the “Board”) of the Company appointed Dr. Yu (Michelle) Xia to serve as a member of the Board pursuant to the terms of the License Agreement.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"member of the Board of Directors"}],"fact_type":"executive_change"},{"claim_id":"059eef3aaf9c68102893fd22c558e36c09e67355","claim":"Summit Therapeutics Inc.: Increased authorized shares of common stock from 350,000,000 to 1,000,000,000 (effective 2023-01-19).","evidence_excerpt":"On January 19, 2023, Summit filed Amendment No. 2 to the Restated Certificate of Incorporation (the “Amendment No. 2”) with the Secretary of State of the State of Delaware to increase the number of authorized shares of our common stock by 650,000,000 (from 350,000,000 to 1,000,000,000), which became effective on such date.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-01-19"}],"fact_type":"governance_change"},{"claim_id":"07eb0d1ba23a0b368173123b94f736e25070cabc","claim":"Summit Therapeutics Inc. entered into Promissory Notes with Robert W. Duggan valued at $400 million and $100 million.","evidence_excerpt":"Summit and Mr. Duggan have rectified the Original Notes in order to correctly reflect the parties’ intent in the Original Notes","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Robert W. Duggan"},{"label":"Value","value":"$400 million and $100 million"}],"fact_type":"material_agreement"},{"claim_id":"3261a4de1fe2439d3aead254ffff194737698a0b","claim":"Summit Therapeutics Inc. amended Amendment No. 1 to the License Agreement with Akeso, Inc. (effective 2023-01-16).","evidence_excerpt":"Common Stock Issuance Agreement As previously disclosed, on December 5, 2022, we entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc. and its affiliates (“Akeso”) and certain ancillary transaction documents as set forth in the License Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"collaboration"},{"label":"Counterparty","value":"Akeso, Inc."},{"label":"Effective","value":"2023-01-16"}],"fact_type":"material_agreement"},{"claim_id":"c752125be2ec6af088b268388202ab4e8ea68017","claim":"Summit Therapeutics Inc. entered into Common Stock Issuance Agreement with Akeso (effective 2023-01-17).","evidence_excerpt":"Common Stock Issuance Agreement As previously disclosed, on December 5, 2022, we entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Akeso"},{"label":"Effective","value":"2023-01-17"}],"fact_type":"material_agreement"},{"claim_id":"c754ec75e3958ae6f557caf9b1329e00c680fc7d","claim":"Summit Therapeutics Inc. entered into Collaboration and License Agreement with Akeso, Inc. and its affiliates valued at $500 million upfront payment (effective 2022-12-05).","evidence_excerpt":"on December 5, 2022, we entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc. and its affiliates","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000012/0001599298-23-000012-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"collaboration"},{"label":"Counterparty","value":"Akeso, Inc. and its affiliates"},{"label":"Value","value":"$500 million upfront payment"},{"label":"Effective","value":"2022-12-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}