Home / Going-concern warnings / Summit Therapeutics Inc.
Filed 2026-07-23 路 Form 10-Q 路 Accession 0001599298-26-000068 large
Price before filing: $14.74 (2026-07-22 close, split/dividend-adjusted)
Market cap at flag: $11.66B (2026-07-23) 路 Latest: $11.38B (2026-10-16)
| Window | SMMT | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -13.6% | +2.1% | -15.8% | 2026-08-24 |
| 90 days | pending | pending | until 2026-10-21 | |
| 180 days | pending | pending | until 2027-01-19 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders bought $103.6M (6 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-06-04 | DUGGAN ROBERT W Co-Chief Executive Officer, Director, 10% owner | Purchase | 100,000 | $14.60 | $1.5M | no | Form 4 |
| 2026-06-04 | Soni Manmeet Singh COO and CFO, Director | Purchase | 25,000 | $14.46 | $362K | no | Form 4 |
| 2026-06-04 | Soni Manmeet Singh COO and CFO, Director | Purchase | 25,000 | $14.43 | $361K | no | Form 4 |
| 2026-06-04 | Zanganeh Mahkam Co-Chief Executive Officer, Director, 10% owner | Purchase | 100,000 | $14.60 | $1.5M | no | Form 4 |
| 2026-06-12 | DUGGAN ROBERT W Co-Chief Executive Officer, Director, 10% owner | Purchase | 3,810,000 | $13.12 | $50.0M | no | Form 4 |
| 2026-06-12 | Zanganeh Mahkam Co-Chief Executive Officer, Director, 10% owner | Purchase | 3,810,000 | $13.12 | $50.0M | no | Form 4 |
| 2026-07-23: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-04-24 to 2026-08-22. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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