Summit Therapeutics Establishes $380M At-The-Market Equity Offering Program

Summit Therapeutics has entered into a distribution agreement with J.P. Morgan Securities LLC to sell, from time to time, up to $380 million of its common stock through an "at-the-market" (ATM) offering. This agreement provides the company with the flexibility to raise capital as needed by selling shares directly into the market at prevailing prices.

Key Details

• Agreement Date: July 23, 2026
• Maximum Offering Size: Up to $380,000,000 in aggregate offering price of common stock.
• Sales Agent: J.P. Morgan Securities LLC will act as the sales agent.
• Commission: The sales agent will receive a commission of up to 3.0% of the gross sales price per share sold.
• Terms: The company is not obligated to sell any shares and can suspend the offering at any time. Sales will be made at market prices prevailing at the time of sale.