Summit Therapeutics Raises $500 Million in Private Placement

Reuters

Oct 22

<a href="https://laohu8.com/S/SMMT">Summit</a> <a href="https://laohu8.com/S/LENZ">Therapeutics</a> Raises $500 Million in Private Placement

Summit Therapeutics Inc. has announced it has raised approximately $500 million through a private placement of about 26.68 million shares of its common stock at $18.74 per share. The proceeds will be used to advance the clinical development of ivonescimab, as well as for working capital and general corporate purposes. Company insiders, including Co-CEOs Robert W. Duggan and Dr. Mahkam Zanganeh, along with other executives and employees, invested a combined $272 million. Akeso, Inc., whose CEO Dr. Yu (Michelle) Xia is also a Summit board member, participated with a $10 million investment. The remaining $218 million was raised from multiple leading biopharma institutional and individual investors. Summit has agreed to file a registration statement with the SEC to register the resale of the shares.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit Therapeutics Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251022041844) on October 22, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit Therapeutics Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251022041844) on October 22, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1794554557.SGD","symbol_name":"Allianz All China Equity AT Acc H2-SGD","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251022:nNDL2LNPbW:1","article_id":"2577690953","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2577690953","pubTimestamp":1761134471,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Summit Therapeutics Inc. has announced it has raised approximately $500 million through a private placement of about 26.68 million shares of its common stock at $18.74 per share. 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The proceeds will be used to advance the clinical development of ivonescimab, as well as for working capital and general corporate purposes. Company insiders, including Co-CEOs Robert W. Duggan and Dr. Mahkam Zanganeh, along with other executives and employees, invested a combined $272 million. Akeso, Inc., whose CEO Dr. Yu (Michelle) Xia is also a Summit board member, participated with a $10 million investment. The remaining $218 million was raised from multiple leading biopharma institutional and individual investors. Summit has agreed to file a registration statement with the SEC to register the resale of the shares.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Summit Therapeutics Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251022041844) on October 22, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}