Summit Therapeutics Generates $200 Million Through Share Sale; Expand License Territories for Ivonescimab

MT Newswires Live06-03

Summit Therapeutics (SMMT) said Monday it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for gross proceeds of about $200 million.

The company said it plans to use the net proceeds to progress the clinical development of ivonescimab, and for working capital and general corporate purposes.

The company also said it is expanding its license territories for ivonescimab through an amendment of its collaboration and in-license agreement with Akeso to include Latin America and Middle East and Africa, with the total deal value worth up to $70 million.

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2440228450?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-03 18:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2440228450","market":"hk","top_or_hot":-1,"title":"Summit Therapeutics Generates $200 Million Through Share Sale; Expand License Territories for Ivonescimab","media":"MT Newswires Live","content":"<html><body><p> Summit <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> (SMMT) said Monday it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for gross proceeds of about $200 million. </p><p>The company said it plans to use the net proceeds to progress the clinical development of ivonescimab, and for working capital and general corporate purposes.</p><p>The company also said it is expanding its license territories for ivonescimab through an amendment of its collaboration and in-license agreement with Akeso to include Latin America and Middle East and Africa, with the total deal value worth up to $70 million.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Summit Therapeutics Generates $200 Million Through Share Sale; Expand License Territories for Ivonescimab</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSummit Therapeutics Generates $200 Million Through Share Sale; Expand License Territories for Ivonescimab\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-03 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summit Therapeutics (SMMT) said Monday it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2440228450","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2440228450","pubTimestamp":1717408806,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Summit Therapeutics  said Monday it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for gross proceeds of about $200 million. The company said it plans to use the net proceeds to progress the clinical development of ivonescimab, and for working capital and general corporate purposes.The company also said it is expanding its license territories for ivonescimab through an amendment of its collaboration and in-license agreement with Akeso to include Latin America and Middle East and Africa, with the total deal value worth up to $70 million.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","LENZ":"Therapeutics","SMMT":"Summit Therapeutics PLC","SMMF":"Summit Financial Group","BK4139":"生物科技"},"translate_title":"Summit Therapeutics通过股票出售创收2亿美元；扩大Ivonescimab的许可区域","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LENZ":1,"SMMF":1,"SMMT":0.9},"content_text":"Summit Therapeutics (SMMT) said Monday it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for gross proceeds of about $200 million. The company said it plans to use the net proceeds to progress the clinical development of ivonescimab, and for working capital and general corporate purposes.The company also said it is expanding its license territories for ivonescimab through an amendment of its collaboration and in-license agreement with Akeso to include Latin America and Middle East and Africa, with the total deal value worth up to $70 million.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2440228450"}