Summit Therapeutics Inc
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
SMMT$17.84+9.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $71,425 | $348,607 |
| Restricted cash | — | 300,000 |
| Accounts receivable | — | 349 |
| Short-term investments | 114,817 | — |
| Prepaid expenses | 2,441 | 1,504 |
| Other current assets | 181 | 486 |
| Research and development tax credit receivable | 848 | 5,766 |
| Total current assets | 189,712 | 656,712 |
| Non-current assets: | ||
| Property and equipment, net | 204 | 906 |
| Right-of-use assets | 5,859 | 4,175 |
| Goodwill | 1,893 | 1,798 |
| Research and development tax credit receivable | 959 | — |
| Other assets | 4,322 | 577 |
| Total assets | $202,949 | $664,168 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $2,667 | $355 |
| Accrued liabilities | 8,783 | 10,664 |
| Accrued compensation | 5,429 | 5,641 |
| Lease liabilities | 2,809 | 1,690 |
| Other current liabilities | 717 | 662 |
| Promissory note payable to related parties | — | 19,770 |
| Total current liabilities | 20,405 | 38,782 |
| Non-current liabilities | ||
| Lease liabilities, net of current portion | 3,290 | 2,763 |
| Other non-current liabilities | 1,562 | 1,429 |
| Promissory notes payable to related parties | 100,000 | 494,540 |
| Total liabilities | 125,257 | 537,514 |
| Commitments and contingencies (Note 22) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value, 20,000,000 shares authorized; none issued and outstanding at December 31, 2023 and 2022, respectively | — | — |
| Common stock, $0.01 par value: 1,000,000,000 shares authorized; 701,660,053 and 211,091,425 shares issued and outstanding at December 31, 2023 and 2022, respectively | 7,017 | 2,110 |
| Additional paid-in capital | 1,066,381 | 504,767 |
| Accumulated other comprehensive loss | (2,448) | (1,893) |
| Accumulated deficit | (993,258) | (378,330) |
| Total stockholders’ equity | 77,692 | 126,654 |
| Total liabilities and stockholders’ equity | $202,949 | $664,168 |
The accompanying notes are an integral part of the consolidated financial statements
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