Summit Therapeutics Files 8-K: Material Agreement & Officer Changes
Ticker: SMMT · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1599298
| Field | Detail |
|---|---|
| Company | Summit Therapeutics Inc. (SMMT) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $446,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, management-change, corporate-filing
TL;DR
Summit Therapeutics filed an 8-K for a material agreement and board changes. Keep an eye on this.
AI Summary
On June 27, 2024, Summit Therapeutics Inc. filed an 8-K report detailing a material definitive agreement and changes in its board and officer composition. The filing also includes financial statements and exhibits, with the company's principal executive offices located at 601 Brickell Key Drive, Suite 1000, Miami, FL 33131.
Why It Matters
This filing signals significant corporate activity, including a new material agreement and potential shifts in leadership, which could impact the company's strategic direction and operational execution.
Risk Assessment
Risk Level: medium — The filing indicates significant corporate actions, including a material definitive agreement and changes in officers/directors, which could introduce uncertainty or signal strategic shifts.
Key Numbers
- 001-36866 — SEC File Number (Identifies the company's filing history with the SEC.)
- 37-1979717 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Summit Therapeutics Inc. (company) — Registrant
- June 27, 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 filed on June 27, 2024?
The 8-K filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.
What specific changes occurred regarding directors or officers?
The filing notes 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers,' indicating changes in company leadership and compensation.
Where are Summit Therapeutics Inc.'s principal executive offices located?
The company's principal executive offices are located at 601 Brickell Key Drive, Suite 1000, Miami, FL 33131.
What is the company's state of incorporation and fiscal year end?
Summit Therapeutics Inc. is incorporated in Delaware and its fiscal year ends on December 31.
What were Summit Therapeutics' former company names and when did they change?
The company was formerly known as Summit Therapeutics plc, with a name change on February 19, 2015, and prior to that, Summit Corp plc, with a name change on February 5, 2014.
Filing Stats: 1,105 words · 4 min read · ~4 pages · Grade level 9.7 · Accepted 2024-06-27 16:27:48
Key Financial Figures
- $0.01 — ange on Which Registered Common stock, $0.01 par value per share SMMT The Nasdaq Sto
- $446,000 — total rental payments of approximately $446,000. Pursuant to the Investments Research S
Filing Documents
- smmt-20240627.htm (8-K) — 34KB
- a2024_prx0627xnewdirecto.htm (EX-99.1) — 12KB
- a2024_prx0627xnewdirecto001.jpg (GRAPHIC) — 281KB
- a2024_prx0627xnewdirecto002.jpg (GRAPHIC) — 223KB
- a2024_prx0627xnewdirecto003.jpg (GRAPHIC) — 187KB
- 0001599298-24-000103.txt ( ) — 1157KB
- smmt-20240627.xsd (EX-101.SCH) — 2KB
- smmt-20240627_def.xml (EX-101.DEF) — 14KB
- smmt-20240627_lab.xml (EX-101.LAB) — 25KB
- smmt-20240627_pre.xml (EX-101.PRE) — 15KB
- smmt-20240627_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on January 8, 2024, Summit Therapeutics Inc. (the "Company") entered into a lease agreement (the "Lease Agreement") with Brickell Key Centre, LLC ("Landlord"), pursuant to which the Company leased office space for its Miami, Florida headquarter location ("Miami HQ"). The Lease Agreement commenced on February 1, 2024 and has a term of 64 months. The Lease Agreement permitted the Company to sublet any part of the premises with Landlord consent. On June 27, 2024, the Company entered into two sublease agreements, one with Genius 24C Inc. ("Genius"), an affiliate of Robert W. Duggan (the "Genius Sublease Agreement") and one with Duggan Investments Research LLC ("Investments Research"), an affiliate of Robert W. Duggan (the "Investments Research Sublease Agreement"). Pursuant to the Genius Sublease Agreement, Genius will sublease from the Company 848 square feet of office space in the Miami HQ for a sixty-two month term for total rental payments of approximately $446,000. Pursuant to the Investments Research Sublease Agreement, Investments Research will sublease from the Company 848 square feet of office space in the Miami HQ for a sixty-two month term for total rental payments of approximately $446,000. The foregoing descriptions of the Genius Sublease Agreement and the Investments Research Sublease Agreement do not purport to be complete and are qualified in their entirety by reference to the text of the Genius Sublease Agreement and the Investments Research Sublease Agreement. A copy of both will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the three months ended June 30, 2024. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 27, 2024, the board of directors (the "Board") of the Company unanimously approved the election of Jeff Huber as a di
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press release, dated June 27, 2024 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: June 27, 2024 By: /s/ Manmeet S. Soni Chief Operating Officer and Chief Financial Officer (Principal Financial Officer)