For the quarter ending 2026-03-31, SMMT had -$118,751K decrease in cash & cash equivalents over the period. -$122,536K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -189,424 | -219,172 | -231,793 | -565,708 |
| Non-cash interest expense | - | 0 | - | - |
| Amortization of discount on short-term investments | 4,217 | 3,017 | 0 | 1,023 |
| Unrealized foreign exchange loss (gain) | -190 | -94 | -49 | 239 |
| Reclassification of currency translation gain | - | 0 | - | - |
| Impairment of fixed assets | - | 0 | - | - |
| Depreciation | 44 | 42 | 42 | 37 |
| Stock-based compensation | 72,791 | 111,779 | 130,761 | 478,784 |
| Loss on disposal of assets | - | 0 | - | - |
| Acquired in-process research and development expense | - | 0 | 0 | 0 |
| Prepaid expenses and other current assets | 11,014 | -1,208 | -3,739 | 1,931 |
| Other assets | 1,026 | 347 | 856 | 2,253 |
| Accounts payable | 6,802 | -2,145 | -839 | 17,931 |
| Accrued liabilities | 12,218 | 5,533 | 945 | 4,841 |
| Accrued compensation | -7,852 | 3,956 | 4,360 | 2,181 |
| Other current liabilities | -2,315 | - | 476 | 704 |
| Other non-current liabilities | -33 | -2 | 30 | 27 |
| Operating lease right-of-use assets and lease liabilities, net | 365 | 267 | 6 | -70 |
| Net cash used in operating activities | -122,291 | -101,938 | -93,080 | -66,744 |
| Maturities and sales of short-term investments | 177,293 | 0 | 0 | 150,808 |
| Purchase of short-term investments | 177,286 | 484,993 | 0 | 0 |
| Purchases of property and equipment | 245 | 164 | 71 | 0 |
| Proceeds from sale of property, plant and equipment | - | 0 | - | - |
| Payments to akeso for upfront milestone payments and associated direct transaction costs | - | 0 | 0 | - |
| Proceeds from issuance of common stock-Rights Offering | - | 0 | - | - |
| Net cash (used in) provided by investing activities | -238 | -485,157 | -71 | 150,808 |
| Transaction costs from the issuance of common stock for rights offering | - | 0 | - | - |
| Proceeds from the issuance of common stock via private placements, net of offering costs | - | 500,037 | 0 | 0 |
| Re-payment of related party promissory notes | - | 0 | 0 | - |
| Proceeds from issuance of common stock-At Market Offering | - | 72,764 | 31,764 | - |
| Proceeds received related to employee stock purchase plan and exercise of stock options | 3,797 | 1,020 | 2,049 | 565 |
| Proceeds from exercise of warrants | 0 | 0 | 0 | 1,657 |
| Net cash provided by financing activities | 3,797 | 573,821 | 33,813 | 2,222 |
| Effect of exchange rate changes on cash | -19 | -19 | 22 | 61 |
| (decrease) increase in cash, cash equivalents and restricted cash | -118,751 | -13,293 | -59,316 | 86,347 |
| Cash, cash equivalents and restricted cash at beginning of period | 225,582 | 238,875 | 298,191 | 211,844 |
| Cash, cash equivalents and restricted cash at end of period | 106,831 | 225,582 | 238,875 | 298,191 |
Summit Therapeutics Inc. (SMMT)
Summit Therapeutics Inc. (SMMT)