Summit Therapeutics Announces Proposed Public Offering of Common Stock

Summit Therapeutics has commenced an underwritten public offering of $500 million of its common stock, with all shares being offered by the company. The underwriters have a 30-day option to purchase up to an additional $75 million of shares at the public offering price. Proceeds will be used to fund the research and development of its lead product candidate, ivonescimab, and for working capital and general corporate purposes. J.P.

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