Summit Therapeutics Inc (SMMT) Quote

SMMT under $5

At the end of Mach the insiders added a fair amount. Don't especially like the trend but the weekly chart may be forming a cup and handle. https://stockcharts.com/freecharts/gallery.html?smmt

Insider Trading Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 54,321 201,874 24,923,800 Mar 27 08:28 PM
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 26,000 96,720 520,814 Mar 27 08:28 PM
Dhingra Ankur Chief Financial Officer Mar 26 '24 Buy 3.75 100,000 375,000 354,958 Mar 27 08:27 PM
Zanganeh Mahkam Chief Executive Officer Mar 26 '24 Buy 3.75 30,000 112,500 30,000 Mar 27 08:28 PM

SMMT under $5

Well the $100 million note has been pushed out until April 2025. I had a couple orders filled on the way DOWN. Rarely a good idea. Need to order a neck brace.

Is it safe to assume there will be a capital raise in the next six months or so since $100 million note is due in September 2024? Stock dilution and volatility is my concern. Trying to figure out when to add to my position. Thoughts?

Third Quarter 2023

Financial Highlights

Aggregate cash and cash equivalents, restricted cash, short-term investments, and receivables on September 30, 2023 totaled $200.5 million as compared to $654.7 million on December 31, 2022.
Our cash, cash equivalents, restricted cash, and short-term investments on September 30, 2023 was $198.9 million as compared to $648.6 million on December 31, 2022. Accounts receivable and research and development tax credits receivable on September 30, 2023 were $1.6 million as compared to $6.1 million on December 31, 2022.
Our short-term investments consist of U.S. treasury securities.
Our current notes payable balance at September 30, 2023 was $100.0 million, which is due in September 2024.
Based on our current cash and investments position, current operating plans, and with the $100.0 million notes payable due in September 2024, we have sufficient funds to operate into the second half of 2024.
Net loss for the three and nine months ended September 30, 2023 was $21.3 million and $578.4 million, respectively. Net loss for the three and nine months ended September 30, 2022 was $21.4 million and $59.6 million, respectively.
The net loss for the nine months ended September 30, 2023 includes one-time in-process research and development expenses associated with the in-licensing of ivonescimab from Akeso of $520.9 million.
Operating cash outflow for the nine months ended September 30, 2023 and 2022 was $57.3 million and $46.8 million, respectively.

I've been looking at the leadership....
https://jackwestmd.com/bio-cv/
https://finance.yahoo.com/news/laura-chow-md-cancer-immunotherapy-204100812.html
I'm impressed!

SMMT new 52 week high

earnings come tuesday feb 20 won't be good.... still a yr away from good profits.

At 4:49 on Valentines Day, 2/14/24, once again two large blocks traded in one minute without moving the price:
16:49:35 $4.45 694,532
16:49:35 $4.45 689,034
The total is: $6,156,868
https://www.nasdaq.com/market-activity/stocks/smmt/after-hours-trades

At 10:06 today, 2/8/24, a block of 734,483 shares trader. That's roughly 1/2 the average daily volume in one minute. Approximately $3.048,100. So three blocks totaling about $10,000,000 in the past day. Somebody is serious, eh?
Trying to get "calibrated" I looked back at the price history of Regeneron. From 2010 to 2015 it went from $25 to $500. 20x. I'd be happy with that. $60B market cap seems possible but I've been wrong before (just once). :-0

LARGE After hours volume
Nice run up today, 2/7/24, and now two big trades AH? Whats up with that?
After-Hours Volume 1,485,679
16:47:16 $4.25 762,733
16:47:16 $4.25 696,820
$6,203,100.25 in those two trades. Somebody didn't want to drive the price up would be my guess.

Early Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?timeFrame=today&viewName=main&screener=overall&orderBy=percentChange&orderDir=desc

Congrats on spotting SMMT early. I saw the CEO and CFO buying 12/12 & 12/13 and jumped in the next day. The 8 January 2024 presentation is awesome as is the run up since that date. It sure looks like senior management is gifted. Any predictions on where it is in 3-5 years?
I retired from a large company with a diagnostics division so VNRX caught my eye with their low cost CA test. Around Thanksgiving 2023 directors started buying around $0.75. I got in as low as $0.65 so between SMMT and VNRX, this year is off to a "reasonably good start". Very low volume on VNRX gives me concerns though. SMMT volume looks great.

look at my june 21st post... do i need to say more?

The recent presentations* and updates are compelling. The testing being conducted in China provides large data sets that will empower the analysis at a statistically meaningful level. I am thrilled to see Duggan buying into this on a large scale. He has a history of successful investing and leadership.

I also came across Volition, ticker VNRX. I cannot help but imagine an annual cancer diagnostic screen with positive results being treated with Ivonescimab in stage 1 or stage 2. I have a substantial amount invested in both SMMT and VNRX. So far both are Green.

*https://www.smmttx.com/investor-information/summit-presentations/

Iovance is having problems with their lung cancer drug, it should help out SMMT be more valuable. ... https://www.marketwatch.com/articles/iovance-stock-fda-lung-cancer-study-58e7e994?mod=mw_latestnews

CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4

CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4

the head man buying millions of dollars of stock per the disclosure... im in

as i said a few weeks ago under 2 bucks is cheap for a company that is in good shape for fda approval for lung cancer.. next stop 5 bucks.. don't miss the boat.

under 2 bucks a share is cheap for a company close to having meds for lung cancer. once fda approval you will see a rocket ship. don't miss out. GLTA

Promising Data for Investigational Innovative Bispecific Ivonescimab Featured at ASCO 2023
June 04 2023 - 08:00AM
Business Wire

as it closer gets to fda approval the stock will continue to advance, don't miss the boat

new press release...http://www.businesswire.com/news/home/20230601005388/en/Ivonescimab-Updated-Data-to-be-Featured-at-ASCO-2023

OK, little lie from my side. Sold on 1.90 support break, but back in today. This stock gonna be a very nice long term hold - imo

good time to buy on the dips before it gets closer to FDA approval. then watch out!!!!

Mr. Robert Duggan, CEO of SMMT, also has an investment company, appropriately named "Duggan Investments". Here's some copy from its website: "Duggan Investments is a hands-on, active investment company, headed by Robert Duggan, who has many decades of success and experience.
An example: Under Bob’s guidance, Pharmacyclics' stock price increased from $0.57 a share in Feb 2009, to $261.25 a share in May 2015. Pharmacyclics and its "miracle drug" IMBRUVICA® were acquired by AbbVie for $21 billion in May 2015. As of today, IMBRUVICA® continues its dramatic growth and success, with use in widening indications."
Here's a link to the site: https://dugganinvestments.com/
Duggan is THE major shareholder in SMMT. He is also the major share holder in another medical research company, "Pulse Biosciences Inc" symbol PLSE. You might find its stock chart interesting. Cheers, NRS

Major support around 1.90 held well. That was critical early today...
But this is a great stock in the making - imo
Won´t sell under 10$!

earnings were not a surprise but it was expected. the closer we get to fda approval the more the stock will advance, you will see profit taking along the way. some could clearly trade in and out on this but just don't miss the major leg up. good luck

Bought in the 1.40´s and won´t sell anytime soon. Mark this post. This stock is a lifechanger imo

Earning tomoroe morning ... many p3 trials ongoing ... expect an update on it.

Ceo bought 500k of stock few months back as did COO

the kompamy is.flushed with cash ..

500milion worth...


Its vill be a good one

Thisnis redy to activate tomorow and thursday.

Bonzaii skippyies

loved the profit taking today, i was able to grab somemore. this is going to go much much higher. people we are talking about lung cancer .... do you know the numbers that have lung cancer, its huge! i have been in the market for over 50 years. this might be the most excited i have been about a stock. good luck.

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!

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

I agree.

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.

post 137 buying rhen selling they will buy again on reluctency

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/

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

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?

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.

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
Business Wire
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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

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

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

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

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

Shoot me later, Bro!!!




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

Hime team buys? Stock down? lol

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!!!