Welcome to our dedicated page for Summit Therapeutics news (Ticker: SMMT), a resource for investors and traders seeking the latest updates and insights on Summit Therapeutics stock.
Summit Therapeutics Inc (NASDAQ: SMMT) delivers innovative therapies for high-need medical conditions through focused research in genetic disorders and infectious diseases. This dedicated news hub provides investors and industry observers with essential updates on clinical progress, regulatory milestones, and strategic collaborations.
Access real-time announcements covering trial results for candidates like ridinilazole, partnership developments with leading institutions, and financial disclosures. Our curated feed serves as a reliable resource for tracking SMMT's advancements in Duchenne muscular dystrophy research and antibiotic innovation.
Key updates include FDA communications, licensing agreements, peer-reviewed study publications, and progress reports from collaborative initiatives with organizations like MD Anderson Cancer Center. All content is verified for accuracy and presented in compliance-conscious formatting.
Bookmark this page for streamlined access to Summit Therapeutics' official communications. Check regularly for developments impacting the company's position in precision antibiotic development and rare disease therapeutics.
Summit Therapeutics (SMMT) reported its financial results for the fourth quarter and year ending December 31, 2022. The company is progressing with its Collaboration and License Agreement with Akeso, acquiring rights to ivonescimab, a bispecific antibody for cancer treatment, for an upfront payment of $500 million. Key financials include a net loss of $78.8 million for the year, a significant decrease from $88.6 million in 2021. Summit raised $500 million in a Rights Offering to fund ongoing operations, with sufficient capital expected to cover expenses into late 2024. An earnings call is scheduled for March 9, 2023.
Summit Therapeutics has announced the successful closing of a $500 million rights offering, resulting in the sale of approximately 476.2 million shares at $1.05 per share. This offering generated net proceeds of about $499.5 million after expenses. With these funds, the company aims to support its operations, particularly focusing on ivonescimab (SMT112), into the second half of 2024. The company will host a Q4 earnings call on March 9, 2023, at 9:00 am ET.
FAQ
What is the current stock price of Summit Therapeutics (SMMT)?
What is the market cap of Summit Therapeutics (SMMT)?
