Summit Therapeutics Files 8-K: Material Agreement & Exhibits

Ticker: SMMT · Form: 8-K · Filed: May 13, 2024 · CIK: 1599298

Summit Therapeutics Inc. 8-K Filing Summary
FieldDetail
CompanySummit Therapeutics Inc. (SMMT)
Form Type8-K
Filed DateMay 13, 2024
Risk Levelmedium
Pages3
Reading Time4 min
Key Dollar Amounts$0.01, $90,000,000
Sentimentneutral

Sentiment: neutral

Topics: material-agreement, financials, filing

TL;DR

Summit Therapeutics filed an 8-K on 5/13, looks like a big deal agreement and new financials.

AI Summary

On May 13, 2024, Summit Therapeutics Inc. filed an 8-K report. The filing indicates an entry into a material definitive agreement and includes financial statements and exhibits. The company's principal executive offices are located at 601 Brickell Key Drive, Suite 1000, Miami, FL 33131.

Why It Matters

This filing signals a significant development for Summit Therapeutics, potentially involving a new contract or partnership, and provides updated financial information to investors.

Risk Assessment

Risk Level: medium — An 8-K filing regarding a material definitive agreement can introduce new risks or opportunities that are not yet fully understood by the market.

Key Numbers

  • 001-36866 — Commission File Number (Identifies the company's SEC filing history.)
  • 37-1979717 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

  • Summit Therapeutics Inc. (company) — Registrant
  • May 13, 2024 (date) — Date of Report
  • 601 Brickell Key Drive, Suite 1000, Miami, FL 33131 (address) — Principal Executive Offices
  • 2882 Sand Hill Road, Suite 106, Menlo Park, CA 94025 (address) — Former Business Address

FAQ

What is the nature of the material definitive agreement entered into by Summit Therapeutics Inc.?

The filing does not specify the details of the material definitive agreement, only that one has been entered into.

When was the 8-K report filed?

The 8-K report was filed on May 13, 2024.

What are the principal executive offices of Summit Therapeutics Inc.?

The principal executive offices are located at 601 Brickell Key Drive, Suite 1000, Miami, FL 33131.

What are the previous names of Summit Therapeutics Inc.?

The company was formerly known as Summit Therapeutics plc and Summit Corp plc.

What is the SIC code for Summit Therapeutics Inc.?

The Standard Industrial Classification code is 2834, which corresponds to Pharmaceutical Preparations.

Filing Stats: 971 words · 4 min read · ~3 pages · Grade level 11.7 · Accepted 2024-05-13 08:03:57

Key Financial Figures

  • $0.01 — ange on Which Registered Common stock, $0.01 par value per share SMMT The Nasdaq Sto
  • $90,000,000 — ng an aggregate offering price of up to $90,000,000 (the "Shares"). The Company is not ob

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 13, 2024, Summit Therapeutics Inc. (the "Company") entered into a distribution agreement (the "Distribution Agreement") with J.P. Morgan Securities LLC ("Sales Agent"), as sales agent, pursuant to which the Company may offer and sell, from time to time, through the Sales Agent, shares of the Company's common stock, par value $0.01 per share, having an aggregate offering price of up to $90,000,000 (the "Shares"). The Company is not obligated to sell any Shares under the Distribution Agreement. Subject to the terms and conditions of the Distribution Agreement, the Sales Agent will use commercially reasonable efforts, consistent with its normal trading and sales practices, to sell Shares from time to time based upon the Company's instructions, including any price, time or size limits or other customary parameters or conditions specified by the Company. Under the Distribution Agreement, the Sales Agent may sell Shares in transactions that are deemed to be "at the market" offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended (the "Securities Act"), including sales made by means of ordinary brokers' transactions, including directly on the Nasdaq Global Market or into any other existing trading market for the Shares, or sales made to or through a market maker, in block transactions or by any other method permitted by law, including negotiated transactions. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices or at negotiated prices. The Company will pay the Sales Agent a commission of up to 3.0% of the gross sales price per share sold through it acting as Sales Agent. The Company has no obligation to sell any of the Shares under the Distribution Agreement and may at any time suspend solicitations and offers under the Distribution Agreement. The issuance and sale, if any, of the Shares by the Company under the Distr

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 1.1 Distribution Agreement, dated May 13, 2024, by and between Summit Therapeutics Inc. and J.P. Morgan Securities LLC 5.1 Opinion of Baker & Hostetler LLP 23.1 Consent of Baker & Hostetler LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SUMMIT THERAPEUTICS INC. Date: May 13, 2024 By: /s/ Manmeet S. Soni Chief Operating Officer and Chief Financial Officer (Principal Financial Officer)

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