Summit Therapeutics Inc

NASDAQ:SMMTUnited States

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 330,000 shares of common stock. Awards were made to six 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 June 28, 2024. The options have a ten (10) year term and an exercise price of $7.80 per share, the closing price per share of the Company's common stock as reported by Nasdaq on June 28, 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).

Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today announced that Jeff Huber has been appointed to its Board of Directors, effective immediately.

"It is an honor to add Jeff Huber to our excellent, diverse group of board members," stated Robert W. Duggan, Chairman and Chief Executive Officer of Summit. "Jeff's executive leadership experience in healthcare and technology and his countless accomplishments evidence his ability to translate what's possible into transformational success. As we seek to change the standard of care for solid tumors based on the potential of ivonescimab, we are thrilled to supplement our outstanding leadership team with a board member the caliber of Jeff."