Summit Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
04 Octobre 2024 - 10:15PM
Business Wire
Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the
"Company") today announced the grant of inducement awards of
options to purchase a collective total of up to 249,550 shares of
common stock. Awards were made to ten new employees of the Company.
The awards were granted as an inducement material to the new
employees becoming employees of the Company in accordance with
Nasdaq Listing Rule 5635(c)(4) and have been approved by the
Company’s Compensation Committee. The inducement awards were
granted on October 1, 2024. The options have a ten (10) year term
and an exercise price of $20.10 per share, the closing price per
share of the Company’s common stock as reported by Nasdaq on
October 1, 2024. The options were granted from a pool of equity
incentives reserved by the Compensation Committee on May 3, 2024
for issuance as inducements to new employees in accordance with
Nasdaq Listing Rule 5635(c)(4).
The options awarded to the recipients are subject to vesting in
equal annual installments over a four-year period. The options
awarded are subject to the terms of a stock option agreement to be
executed by the recipient of the grant.
About Summit Therapeutics
Summit Therapeutics Inc. is a biopharmaceutical oncology company
focused on the discovery, development, and commercialization of
patient-, physician-, caregiver- and societal-friendly medicinal
therapies intended to improve quality of life, increase potential
duration of life, and resolve serious unmet medical needs.
Summit was founded in 2003 and our shares are listed on the
Nasdaq Global Market (symbol "SMMT"). We are headquartered in
Miami, Florida, and we have additional offices in Menlo Park,
California, and Oxford, UK.
For more information, please visit https://www.smmttx.com and
follow us on X @SMMT_TX.
Summit Forward-looking Statements
Any statements in this press release about the Company’s future
expectations, plans and prospects, including but not limited to,
statements about the clinical and preclinical development of the
Company’s product candidates, entry into and actions related to the
Company’s partnership with Akeso Inc., the intended use of the net
proceeds from the private placements, the Company's anticipated
spending and cash runway, the therapeutic potential of the
Company’s product candidates, the potential commercialization of
the Company’s product candidates, the timing of initiation,
completion and availability of data from clinical trials, the
potential submission of applications for marketing approvals,
potential acquisitions, statements about the previously disclosed
At-The-Market equity offering program (“ATM Program”), the expected
proceeds and uses thereof, and other statements containing the
words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict,"
"project," "should," "target," "would," and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including the
Company’s ability to sell shares of our common stock under the ATM
Program, the conditions affecting the capital markets, general
economic, industry, or political conditions, including the results
of our evaluation of the underlying data in connection with the
development and commercialization activities for ivonescimab, the
outcome of discussions with regulatory authorities, including the
Food and Drug Administration, the uncertainties inherent in the
initiation of future clinical trials, availability and timing of
data from ongoing and future clinical trials, the results of such
trials, and their success, and global public health crises, that
may affect timing and status of our clinical trials and operations,
whether preliminary results from a clinical trial will be
predictive of the final results of that trial or whether results of
early clinical trials or preclinical studies will be indicative of
the results of later clinical trials, whether business development
opportunities to expand the Company’s pipeline of drug candidates,
including without limitation, through potential acquisitions of,
and/or collaborations with, other entities occur, expectations for
regulatory approvals, laws and regulations affecting government
contracts and funding awards, availability of funding sufficient
for the Company’s foreseeable and unforeseeable operating expenses
and capital expenditure requirements and other factors discussed in
the "Risk Factors" section of filings that the Company makes with
the Securities and Exchange Commission. Any change to our ongoing
trials could cause delays, affect our future expenses, and add
uncertainty to our commercialization efforts, as well as to affect
the likelihood of the successful completion of clinical development
of ivonescimab. Accordingly, readers should not place undue
reliance on forward-looking statements or information. In addition,
any forward-looking statements included in this press release
represent the Company’s views only as of the date of this release
and should not be relied upon as representing the Company’s views
as of any subsequent date. The Company specifically disclaims any
obligation to update any forward-looking statements included in
this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241004761818/en/
Contact Summit Investor Relations: Dave Gancarz Chief
Business & Strategy Officer
Nathan LiaBraaten Senior Director, Investor Relations
investors@smmttx.com
Summit Therapeutics (NASDAQ:SMMT)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Summit Therapeutics (NASDAQ:SMMT)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024