Summit Therapeutics Inc
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
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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Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024
Condensed Consolidated Balance Sheets
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $211,526 | $104,862 |
| Restricted cash | 318 | 325 |
| Short-term investments | 149,789 | 307,487 |
| Prepaid expenses and other current assets | 9,118 | 11,076 |
| Total current assets | 370,751 | 423,750 |
| Non-current assets: | ||
| Property and equipment, net | 652 | 254 |
| Operating lease right-of-use assets | 6,351 | 7,144 |
| Goodwill | 1,923 | 1,864 |
| Other assets | 4,145 | 2,548 |
| Total assets | $383,822 | $435,560 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Accounts payable | $4,994 | $4,636 |
| Accrued liabilities | 21,185 | 19,554 |
| Accrued compensation | 4,396 | 11,977 |
| Operating lease liabilities, current portion | 3,543 | 3,765 |
| Other current liabilities | 759 | 1,797 |
| Total current liabilities | 34,877 | 41,729 |
| Non-current liabilities: | ||
| Operating lease liabilities, net of current portion | 2,907 | 3,453 |
| Other non-current liabilities | 1,708 | 1,630 |
| Total liabilities | 39,492 | 46,812 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.01 par value, 20,000,000 shares authorized; none issued and outstanding at March 31, 2025 and December 31, 2024, respectively | — | — |
| Common stock, $0.01 par value: 1,000,000,000 shares authorized; 741,609,390 and 737,626,004 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively | 7,416 | 7,376 |
| Additional paid-in capital | 1,616,963 | 1,598,230 |
| Accumulated other comprehensive loss | (2,563) | (2,285) |
| Accumulated deficit | (1,277,486) | (1,214,573) |
| Total stockholders' equity | 344,330 | 388,748 |
| Total liabilities and stockholders' equity | $383,822 | $435,560 |
Condensed Consolidated Statements of Operations and Comprehensive Loss
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating expenses: | ||
| Research and development | $51,265 | $30,873 |
| General and administrative | 15,586 | 11,516 |
| Total operating expenses | 66,851 | 42,389 |
| Other income | 3,938 | 2,037 |
| Interest expense | — | (3,121) |
| Net loss | $(62,913) | $(43,473) |
| Net loss per share: | ||
| Basic and diluted | $(0.09) | $(0.06) |
| Weighted average common shares outstanding: | ||
| Basic and diluted | 738,076,003 | 701,785,250 |
| Other comprehensive loss: | ||
| Foreign currency translation adjustments | (145) | (12) |
| Unrealized (loss)/gains on short-term investments | (133) | 11 |
| Comprehensive loss | $(63,191) | $(43,474) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.