Item 8.01 Other Events.

In connection with Summit Therapeutics Inc.'s (the "Company") previously announced $500 million rights offering, which shall be available to all holders of record of the Company's common stock, par value $0.01 (the "Common Stock"), the Company's Board of Directors has set the record date for the distribution of rights as the close of 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.

The Company 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 the Company has filed with the SEC for more complete information about the Company and the rights offering. You may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov.

This communication 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.




Item 9.01   Financial Statements and Exhibits.



(d) Exhibits

Exhibit Number               Description
104                          Cover Page Interactive Data File (embedded within the Inline XBRL
                             document)

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