Summit Therapeutics Shares Resumed Trading. Co Raised $200M Via Institutional Offering of 22.2M Shares at $9/Share for Clinical Development of Ivonescimab
Portfolio Pulse from Benzinga Newsdesk
Summit Therapeutics has resumed trading after raising $200 million through an institutional offering of 22.2 million shares at $9 per share. The funds will be used for the clinical development of Ivonescimab.
June 03, 2024 | 11:13 am
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Summit Therapeutics raised $200 million through an institutional offering of 22.2 million shares at $9 per share. The funds will be used for the clinical development of Ivonescimab.
The successful capital raise of $200 million will provide Summit Therapeutics with the necessary funds to advance the clinical development of Ivonescimab. This is likely to be viewed positively by investors as it strengthens the company's financial position and supports its growth prospects.
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