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# Summit Therapeutics Lets One Holder Resell Up To 108.96 Million Shares After Preferred Conversion
- URL: https://www.bullished.co/summit-therapeutics-lets-one-holder-resell-up-to-108-96-million-shares-after-preferred-29bbf388/
- Published: 2026-11-04T22:37:22.000Z
- Updated: 2026-11-04T22:37:22.000Z
- Description: A prospectus supplement covers common stock issuable from a single holder's Class A Convertible Preferred shares.
- Author: Matteo Parrino
- Tags: SEC Filings, SMMT, Industry: Healthcare

[Summit Therapeutics](https://www.bullished.co/tag/smmt/), which develops cancer medicines, filed a prospectus supplement on Wednesday that lets a selling stockholder resell [up to 108,955,369 common shares](https://www.sec.gov/Archives/edgar/data/0001599298/000119312526447661/d170975d8k.htm?ref=bullished.co) that would be issued when its Class A Convertible Preferred Stock converts.

## Preferred shares behind the resale

The common shares, par value $0.01, would come from the conversion of [108,955.3686 shares](https://www.sec.gov/Archives/edgar/data/0001599298/000119312526447661/d170975dex51.htm?ref=bullished.co) of Class A Convertible Preferred Stock held by the selling stockholder. The holder may offer the stock from time to time.

The supplement attaches to an automatic shelf registration statement on Form S-3 that Summit filed on June 9, 2026\. That registration became effective on filing.

## Baker & Hostetler's legal opinion

Law firm Baker & Hostetler gave an opinion, filed with the SEC alongside the supplement, that the shares will be validly issued, fully paid and nonassessable once they are registered with the transfer agent and issued under the terms of the preferred stock.

The opinion assumes enough common shares will remain authorized under Summit's certificate of incorporation when the conversion happens. It is limited to Delaware corporate law.

## A drug developer with no approved product

Summit's work centers on ivonescimab, an antibody built to block two proteins, PD-1 and VEGF, in one molecule. It licensed rights from Akeso to develop and sell the drug in the United States, Canada, Europe, Japan, Latin America, the Middle East and Africa, according to its 10-K for 2025.

The company has no approved products. It is running late-stage trials in non-small cell lung cancer and colorectal cancer, and the FDA accepted its marketing application for ivonescimab plus chemotherapy in EGFR-mutated lung cancer in January 2026, with a decision goal date of November 14, 2026.

The FDA's decision goal date for ivonescimab in EGFR-mutated lung cancer is November 14, 2026.

Learn

- [Item 8.01: other events →](https://www.bullished.co/learn/8-k-items-explained/#item-801-other-events)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Summit Therapeutics Inc. (SMMT)](https://www.sec.gov/Archives/edgar/data/0001599298/000119312526447661/d170975d8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d170975dex51.htm — Summit Therapeutics Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001599298/000119312526447661/d170975dex51.htm?ref=bullished.co) — SEC EDGAR

### More on Summit Therapeutics

- [Summit Therapeutics Drops Going-Concern Warning After AstraZeneca's $2.0 Billion Investment](https://www.bullished.co/summit-therapeutics-drops-going-concern-warning-after-astrazenecas-2-0-billion-investment-8fed720d/)
- [Summit's Adjusted Quarterly Loss Widens To $160.7 Million Ahead Of November 14 FDA Decision](https://www.bullished.co/summits-adjusted-quarterly-loss-widens-to-160-7-million-ahead-of-november-14-fda-decision-cdcc421f/)
- [Summit Therapeutics Says Failed Share Vote Could Make Preferred Stock Redeemable](https://www.bullished.co/summit-therapeutics-says-failed-share-vote-could-make-preferred-stock-redeemable-bc3a9eb1/)

[All Summit Therapeutics (SMMT) coverage →](https://www.bullished.co/tag/smmt/)