Summit Therapeutics Stock Slides to 52-Week Low on Plans for Secondary Offering

Dow Jones

06/11

By Anvee Bhutani

Shares of Summit Therapeutics retreated after the company disclosed plans to sell $500 million of its common stock in a secondary offering.

The stock was off by 11% to $12.67 in early afternoon trading on Wednesday, a 52-week low. Shares of the biopharmaceutical oncology company are now down 27% this year.

After the close on Tuesday, Summit said it would sell shares to fund research and development costs, working capital and other general corporate purposes.

Write to Anvee Bhutani at anvee.bhutani@wsj.com

(END) Dow Jones Newswires

June 10, 2026 14:38 ET (18:38 GMT)

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Shares of the biopharmaceutical oncology company are now down 27% this year. \n\n\n  After the close on Tuesday, Summit said it would sell shares to fund research and development costs, working capital and other general corporate purposes. \n\n\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 10, 2026 14:38 ET (18:38 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}