 Cambridge, MA, March 26, 2021 - Summit Therapeutics Inc. NASDAQ: SMMT today announced that the Companys Board of Directors has approved a rights offering available to all holders of record of the Companys common stock, par value 0.01 the Common Stock as of the close of business on April 9, 2021. The Company intends to distribute to all holders of Common Stock as of the record date non-transferable subscription rights to purchase shares of Common Stock at a price per share equal to the lesser of i 5.24 per share, the closing price of the Common Stock on March 24, 2021, or ii the volume weighted-average price of the Common Stock for the ten consecutive trading days through and including the expiration date of the offering, currently contemplated to be May 4, 2021. Assuming that the rights offering is fully subscribed, the Company will receive gross proceeds of up to 75 million, less expenses related to the rights offering. 