Summit Therapeutics Inc (SMMT)

[NRS]

Yes, I think so too. Been in (again) since last week with no complaints. Now if we could just coax some whale to do a 300k share market buy in the next few minutes... And don't think it couldn't happen-- they're out there!

[heisagolfer]

this company will rocket ship higher with the stock price the closer they get to FDA approval. better get in before you miss out.. GLTA

[NRS]

I agree.

[heisagolfer]

looks like a very promising company, getting closer to fda approval . won't see this stock in the one dollar range much longer. good luck to all.

[IOUBLOKE1]

post 137 buying rhen selling they will buy again on reluctency

[NRS]

A number of large investors have recently made changes to their positions in the business. Polar Capital Holdings Plc lifted its stake in shares of Summit Therapeutics by 2.5% during the 1st quarter. Polar Capital Holdings Plc now owns 6,272,509 shares of the company’s stock worth $15,368,000 after purchasing an additional 154,598 shares during the period. Millennium Management LLC purchased a new position in shares of Summit Therapeutics during the 2nd quarter worth $457,000. BlackRock Inc. lifted its stake in shares of Summit Therapeutics by 39.3% during the 3rd quarter. BlackRock Inc. now owns 421,086 shares of the company’s stock worth $500,000 after purchasing an additional 118,878 shares during the period. Marshall Wace LLP purchased a new position in shares of Summit Therapeutics during the 3rd quarter worth $167,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Summit Therapeutics during the 2nd quarter worth $49,000. Hedge funds and other institutional investors own 1.59% of the company’s stock.
https://www.etfdailynews.com/2023/02/01/summit-therapeutics-nasdaqsmmt-cut-to-sell-at-stocknews-com/

[NRS]

https://stocksregister.com/2023/02/02/data-based-insights-about-summit-therapeutics-inc-smmt/

[NRS]

My guess is we'll see a pretty substantial run up between now and next Monday close. Today's volume was nearly twice that of yesterday's @ just over 5 million. If selling on Tuesday won't disqualify someone from the offering, then I expect to see a sell off first thing Tuesday morning. How would you play this?

[NRS]

THanks. Ok, so I need to be sure I'm holding by closing 2/6. Does that include after hours? What happens if I sell my shares on the 7th? Also, it looks like the expiration is 3/1, so I'll have 5 days from and including 2/23 to pick up my shares. But being I've never participated in this, how do I get my shares? Will I need to mail a check to the company and ask they deposit them into my broker account?
Thanks for any help on this.

[subslover]

Thank you, buddy. Here is the offering news.

Summit Therapeutics Announces Timing for Rights Offering for Up to $500 Million
January 30 2023 - 08:00AM
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Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit” or the “Company”) today announced that the Company’s Board of Directors has set the record date for the Company’s previously announced rights offering, which will be available to all holders of record of the Company’s common stock, par value $0.01 (the “Common Stock”), as of the close of the market on February 6, 2023 (the “Record Date”).

The Company intends to distribute to all holders of Common Stock as of the Record Date non-transferable subscription rights to purchase up to 476,190,476 shares of Common Stock at a price per share equal to the lesser of (i) $1.05 per share, or (ii) the volume weighted-average price of the Common Stock for the five consecutive trading days through and including the expiration date of the offering, currently contemplated to be March 1, 2023. Assuming that the rights offering is fully subscribed, the Company will receive gross proceeds of up to $500 million, less expenses related to the rights offering. As indicated below, please refer to the registration statement on Form S-3 for more complete information regarding the Company’s rights offering.

The rights offering will include an over-subscription right to permit each rights holder that exercises its basic subscription rights in full to purchase additional shares of Common Stock that remain unsubscribed at the expiration of the offering. The availability of the over-subscription right will be subject to certain terms and conditions to be set forth in the offering documents.

Robert W. Duggan, Chairman, Chief Executive Officer, and the beneficial owner of approximately 78.1% of Summit’s Common Stock prior to this rights offering, and Dr. Maky Zanganeh, Co-Chief Executive Officer, President, a member of the Board of Directors, and the beneficial owner of approximately 6.0% of the Company’s Common Stock prior to this rights offering, have each indicated that they intend to participate in the rights offering for at least the full amount of their basic subscription rights, but have not made any formal binding commitment to participate.

Summit has filed a registration statement (including a prospectus) on Form S-3 with the Securities and Exchange Commission (the "SEC") on December 21, 2022, as amended on January 23, 2023, which has not yet become effective. The registration statement covers, among other things, the rights offering to which this communication relates. Such securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Before you invest, you should read the final prospectus in that registration statement, together with any prospectus supplement, that we will file prior to commencing any rights offering, and the documents incorporated by reference in the prospectus (or any prospectus supplement), as well as the other documents Summit has filed with the SEC for more complete information about Summit and the rights offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Summit Therapeutics’ Mission Statement

To build a viable, long-lasting health care organization that assumes full responsibility for designing, developing, trial execution and enrollment, regulatory submission and approval, and successful commercialization of patient, physician, caregiver, and societal-friendly medicinal therapy intended to: improve quality of life, increase potential duration of life, and resolve serious medical health care needs. To identify and control promising product candidates based on exceptional scientific development and administrational expertise, develop our products in a rapid, cost-efficient manner, and to engage commercialization and/or development partners when appropriate.

We accomplish this by building a team of world class professional scientists and business administrators that apply their experience and knowledge to this mission. Team Summit exists to pose, strategize, and execute a path forward in medicinal therapeutic health care that places Summit in a well-deserved, top mar

[NRS]

Good Call!! This offering coming up will be huge.

[subslover]

I made a large bet that $2.95 was the bottom.

[subslover]

Thank you for that info. Nice move on Friday up 18%

[NRS]

FYI: Robert Duggan, a majority holder of the o/s of $SMMT is also a majority share holder of $PLSE.

[Invest-in-America]

Shoot me later, Bro!!!




"Oooops!!! There goes THAT Team-Pumped stock down the TOILET!!! I sure ain't gonna follow those jerks again!!!"

[IOUBLOKE1]

Hime team buys? Stock down? lol

[Invest-in-America]

SMMT: Hi there, Capt. S-L!!! Let's get this SMMT puppy barkin' LOUD today, Homeboy!!

PS: Hey, Bro, I often get questions from NEW iHub'ers about HOW to make bucks doing this stuff; so, I just tell them to FOLLOW YOU, G2G, & MakinEasyMoney --- and THROW-AWAY their silly "DDAmanda" toys!!!

[subslover]

Joe said dip um then rip them, :)

[Invest-in-America]

SMMT: Subtext being, Joe's a JERK??? Well, Trump can attempt a coupe attempt on Joe's White House kitchen!! I'll lead the attack!!! (HA-HA!!)

Bottom line, SMMT to-dah-MOON!!! (Tomorrow, maybe!!)

[subslover]

It's nice to hear from you!

[IOUBLOKE1]

So when it it time to sell december 6 bags full for some
75c

[subslover]

THANK YOU> You are the only human that got through to his dementia and that is a total miracle lol

[Invest-in-America]

SMMT: Just now FINALIZED!!! (See below!! I DO have 'connections', ya know!!)


"Here ya go, Invest-In-America!! Tell Admiral Subslover that the SMMT launch is all set for early next week!!"

[subslover]

LMAO. I will go for that bill. Bring it on lol.

[Invest-in-America]

SMMT: I'll sign THAT Bill; then pass it to the Senate & Joe for Ratification, Mr. Speaker!!!

[subslover]

Anytime bro! I feel were going to see many more new highs!

[Invest-in-America]

SMMT: Hey, & THANKS for that too!!! (It's a NICE one!!)

[subslover]

$SMMT new 52-week high is $5.68 just achieved. Love SMMT dude!!!!! :)

[NRS]

Nice correction... Keep an eye out for the bottom. Then I'll reload.

[subslover]

The New 52 week high just achieved at $5.50

[subslover]

SMMT on FIRE! :)

[subslover]

Ride the tiger.SMMT flirting with $5.00

[subslover]

Nice close up over 10% at $4.05

[NRS]

I need to correct an earlier post of mine. I didn't fully understand the mechanics of the deal and got the companies involved confused. I thought it was Akeso Therapeutics that was funding Summit Therapeutics, but it's the other way around...

Bob Duggan, Summit Therapeutics co-CEO
December 6, 2022 11:41 AM EST Financing Deals
Bouncing from major setback, Summit hands out $500M cash for cancer drug —
thanks to a loan from billionaire CEO
After hitting a dead end with Summit Therapeutics’ lead program, Bob Duggan
has found the drug that he believes will usher into a compelling second act. So
compelling, in fact, that it involves $500 million cash — and he’s taking money out
of his own pocket to fund the deal.

Striking a partnership with Akeso Therapeutics out of China, Summit is bringing in
a bispecific antibody that blocks both PD-1 and VEGF called ivonescimab. Akeso,
which has a PD-1/CTLA-4 bispecific approved in China, has already taken
ivonescimab into multiple clinical trials, including a Phase III in lung cancer.

With respect to financing the transaction, we will start with debt of $520M that
was entered into with Bob Duggan and Maky Zanganeh, our Co-CEOs. However,
we intend to hold a public offering, a rights offering, in early 2023, which will be
available to all shareholders as of the record date, which will be in Q1’2023. The
rights offering is contemplated to be at $500M. We anticipate that a portion of
the debt will be repaid by the funds raised from the anticipated rights offering.

[TheFinalCD]

Starting to make a new tun

lol

[subslover]

Starting to make a new run

[NRS]

I wonder if the folks who sold/shorted it today are some of the same who bought yesterday? Last Tuesday showed an increase in volume as well as yesterday. But in between the volume dropped off to about a third of what it was either of those 2 days. Lately I've been wrong with just about everything, including my buying and selling-- currently at a loss. But if the group doesn't come back for a few days I think we'll see a drop into the 2's. I'm holding out getting back in for a while which will probably mean I'll miss the boat. But it is what it is.

[subslover]

Got a new one tomorrow. :)))))))))))

[TheFinalCD]

miss this tun

SMMT

SMH

[NRS]

Shorts are hitting it big time, or perhaps it's just folks taking profit for the day. $SMMT

[subslover]

Currently trading at $5.40. How are you? :)

[NRS]

$SMMT $5.40.

[NRS]

Heck, if this "memes" today, me might get past 6.

[NRS]

So far a steady climb today... No circuit breakers. But over twice yesterday's volume and continuing to climb. Now @ $5.20

[elmasry]

Maybe we get news soo

[NRS]

Just went past $5

[elmasry]

Thank you. Nice move

[IOUBLOKE1]

Insiders own big investment 10 days ago. The news here. Not much more

[elmasry]

Anyone knows what is going on

[OmegaMoney29]

25$