Summit Therapeutics Inc. (SMMT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 10.4% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
780M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

SMMT currently has 775M outstanding shares. with minimal authorized share overhang for future dilution. The company has diluted shareholders by 10.4% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 30, 2026

10-Q filing | 775.5M shares outstanding

780M 0
Oct 20, 2025

10-Q filing | 743.4M shares outstanding

740M 7.3M
Aug 11, 2025

10-Q filing | 742.6M shares outstanding

740M 8.1M
May 01, 2025

10-Q filing | 738.1M shares outstanding

740M 13M
Feb 24, 2025

10-K filing | 718.5M shares outstanding

720M 32M
Oct 30, 2024

10-Q filing | 726.7M shares outstanding

730M 24M
Aug 06, 2024

10-Q filing | 707.9M shares outstanding

710M 43M
May 01, 2024

10-Q filing | 701.8M shares outstanding

700M 49M
Feb 20, 2024

S-3 filing: Summit Therapeutics Inc. is offering common stock, preferred stock, debt securities, depositary shares, subscription rights, purchase contracts and units, with an aggregate offering price not to exceed $450,000,000. The selling stockholder may offer and sell up to 2,976,190 shares of Common Stock from time to time.

700M 53M
Feb 20, 2024

10-K filing | 701.7M shares outstanding

700M 49M
Nov 07, 2023

10-Q filing | 697.7M shares outstanding

700M 0
Aug 09, 2023

10-Q filing | 697.7M shares outstanding

700M 0
May 11, 2023

10-Q filing | 697.7M shares outstanding

700M 0
Mar 17, 2023

8-K filing: Summit Therapeutics Inc. registered for resale 10,000,000 shares of Common Stock issued on January 17, 2023 to Akeso, Inc. and 9,346,434 and 373,857 shares of Common Stock issued in December 2022 to Robert Duggan and the Mahkam Zanganeh Revocable Trust, respectively.

700M 0
Mar 17, 2023

S-3 filing: This is an S-3 filing for a shelf offering of Summit Therapeutics Inc. common stock, allowing selling stockholders to resell up to 19,720,291 shares.

700M 0
Mar 09, 2023

10-K filing | 697.7M shares outstanding

700M 0
Mar 03, 2023

8-K filing: Summit Therapeutics Inc. announced the closing and final results of its rights offering, resulting in the issuance of approximately 476.2 million shares of common stock at a price of $1.05 per share, with aggregate gross proceeds of $500 million, bringing the total shares outstanding to approximately 697.7 million. ($500.0M proceeds)

700M 0
Jan 30, 2023

8-K filing: Summit Therapeutics Inc. announced the record date for its previously announced rights offering, which will be available to stockholders of record as of February 6, 2023, to purchase up to 476,190,476 shares of common stock at a price per share equal to the lesser of $1.05 per share or the volume weighted-average price through March 1, 2023, with expected gross proceeds of up to $500 million. ($500.0M proceeds)

200M 430M
Jan 27, 2023

8-K filing: Summit Therapeutics Inc. announces a rights offering available to holders of common stock to purchase up to 476,190,476 shares at a price per share equal to the lesser of $1.05 or the volume weighted-average price, with potential gross proceeds of up to $500 million, less expenses. ($500.0M proceeds)

200M 430M
Jan 23, 2023

S-3/A filing: Summit Therapeutics Inc. is distributing at no charge to the holders of their common stock, par value $0.01 per share, non-transferable subscription rights to purchase up to 476,190,476 shares of common stock at the Initial Price with an aggregate offering value of up to $500,000,000.

200M 430M
Jan 20, 2023

8-K filing: Summit Therapeutics issued 10 million shares of common stock to Akeso in lieu of cash as part of their Collaboration and License Agreement, and Amendment No. 2 to the Restated Certificate of Incorporation was filed to increase the number of authorized shares of common stock by 650,000,000.

200M 430M
Dec 21, 2022

S-3 filing: Summit Therapeutics Inc. is distributing at no charge to the holders of our common stock, par value $0.01 per share, non-transferable subscription rights to purchase up to 476,190,476 shares of common stock with an aggregate offering value of up to $500,000,000.

200M 430M
Dec 06, 2022

8-K filing: Summit Therapeutics Inc. entered into a Collaboration and License Agreement with Akeso, Inc. and its affiliates, and also issued unsecured promissory notes to Robert W. Duggan and Dr. Maky Zanganeh.

200M 0
Nov 09, 2022

10-Q filing | 201.3M shares outstanding

200M 0
Aug 16, 2022

8-K filing: Summit Therapeutics Inc. closed its rights offering on August 15, 2022, issuing 103,092,783 shares of common stock at $0.97 per share, resulting in gross proceeds of $100 million and 201,215,139 shares outstanding. ($100.0M proceeds)

200M 0
Aug 11, 2022

10-Q filing | 99.7M shares outstanding

100M 52M
Aug 09, 2022

8-K filing: Summit Therapeutics Inc. closed its rights offering, with eligible stockholders purchasing approximately 103 million shares of common stock at $0.97 per share, resulting in aggregate gross proceeds of $100 million and approximately 201 million shares outstanding. ($100.0M proceeds)

200M 0
May 11, 2022

10-Q filing | 98.1M shares outstanding

98M 54M
Mar 17, 2022

10-K filing | 92.2M shares outstanding

92M 59M
Nov 15, 2021

10-Q filing | 97.5M shares outstanding

97M 54M
Aug 12, 2021

10-Q filing | 90.7M shares outstanding

91M 61M
May 17, 2021

10-Q filing | 97.2M shares outstanding

97M 54M
Mar 31, 2021

10-K filing | 82.9M shares outstanding

83M 69M
Jan 08, 2021

S-3 filing: Summit Therapeutics Inc. is offering 63,859,111 shares of common stock and 5,474,522 shares of common stock issuable upon exercise of warrants.

82M 69M
Nov 16, 2020

10-Q filing | 82.3M shares outstanding

82M 0
Nov 06, 2020

8-K filing: Summit Therapeutics Inc. completed a private placement on November 6, 2020, issuing and selling 14,071,856 shares of common stock to Robert W. Duggan and 898,204 shares to Polar Capital Funds plc and Mahkam Zanganeh Revocable Trust, at a price of $3.34 per share, for an aggregate purchase price of $50 million.

340M 0
Oct 05, 2020

8-K filing: Summit Therapeutics Inc. entered into a Securities Purchase Agreement with its CEO and Executive Chairman, Robert W. Duggan, to issue and sell up to 14,970,060 shares of common stock at $3.34 per share in a private placement, for up to approximately $50 million. ($50.0M proceeds)

340M 0
Apr 30, 2020

20-F filing | 335.9M shares outstanding

340M 0
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