{"schema_version":"secwatch.filing_event.v1","accession":"0001599298-23-000055","form_type":"8-K","ticker":"SMMT","cik":"0001599298","company_name":"Summit Therapeutics Inc.","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.598209+00:00","generated_at":"2026-06-15T04:10:27.360707+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Summit Therapeutics reports Q1 net loss of $542.4M; first patient dosed in ivonescimab trial","bullets":["Net loss of $542.4M for Q1 2023 includes $520.9M one-time in-process R&D expense for ivonescimab in-licensing.","First US patient treated in Phase III HARMONi trial of ivonescimab in EGFR-mutated NSCLC; HARMONi-3 trial expected H2 2023.","Cash and investments $241.9M at March 31, 2023, down from $648.6M at Dec 31, 2022; notes payable $100M due Sept 2024.","Fully-subscribed rights offering raised $500M gross proceeds (476.2M shares at $1.05); used to repay $400M note to Chairman Duggan.","Collaboration with Akeso closed Jan 2023; $500M upfront paid; Akeso eligible for up to $4.5B milestones and low double-digit royalties."],"urls":{"canonical":"https://secwatch.observer/filing/0001599298-23-000055","json":"https://secwatch.observer/filing/0001599298-23-000055.json","markdown":"https://secwatch.observer/filing/0001599298-23-000055.md","text":"https://secwatch.observer/filing/0001599298-23-000055.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000055/0001599298-23-000055-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000055/smmt-20230511.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T04:10:27.360707+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":"e5ffa4c33521fd8307d7d834599f1e1192974a7f","claim":"Summit Therapeutics Inc. reported first quarter ended March 31, 2023 results: net income $542.4 million.","evidence_excerpt":"Net loss for the three months ended March 31, 2023 and 2022 was $542.4 million and $21.4 million, respectively.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929823000055/0001599298-23-000055-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Net income","value":"$542.4 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"}