{"schema_version":"secwatch.filing_event.v1","accession":"0001599298-23-000031","form_type":"8-K","ticker":"SMMT","cik":"0001599298","company_name":"Summit Therapeutics Inc.","filed_at":"2023-03-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.771968+00:00","generated_at":"2026-06-18T07:04:14.908383+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Summit Therapeutics FY2022 net loss $78.8M; Akeso ivonescimab deal closed with $500M upfront","bullets":["Net loss Q4 2022: $19.2M, FY 2022: $78.8M; operating cash outflow FY2022: $41.6M.","Cash and equivalents at Dec31,2022: $648.6M, up from $71.8M a year ago, driven by financing.","Completed $500M upfront payment to Akeso for ivonescimab rights in US, Canada, Europe, Japan.","Rights offering raised $500M gross; proceeds used to repay $401.3M note to CEO Robert Duggan.","As of Feb28,2023, cash ~$240M including $100M notes; expected to fund operations into H2 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001599298-23-000031","json":"https://secwatch.observer/filing/0001599298-23-000031.json","markdown":"https://secwatch.observer/filing/0001599298-23-000031.md","text":"https://secwatch.observer/filing/0001599298-23-000031.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000031/0001599298-23-000031-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000031/smmt-20230309.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T07:04:14.908383+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":"94f43b0a2e798938b612b6f04a69ac7d62432392","claim":"Summit Therapeutics Inc. reported the year ended December 31, 2022 results: net income $78.8 million.","evidence_excerpt":"Net loss for the year ended December 31, 2022 and 2021 was $78.8 million and $88.6 million, respectively.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000031/0001599298-23-000031-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Net income","value":"$78.8 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"9ce6e0a12c6b6f2f3220e1a136d812b63e6c0bd1","claim":"Summit Therapeutics Inc. reported the three months ended December 31, 2022 results: net income $19.2 million.","evidence_excerpt":"Net loss for the three months ended December 31, 2022 and 2021 was $19.2 million and $27.1 million, respectively.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000031/0001599298-23-000031-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended December 31, 2022"},{"label":"Net income","value":"$19.2 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}