Shareholders of Summit Therapeutics (NASDAQ:SMMT) approved a proposal to double the number of authorized shares of common stock to 2 billion, according to preliminary voting results announced at the company’s 2026 special meeting.
The amendment to Summit’s restated certificate of incorporation would increase the number of authorized common shares by 1 billion, from 1 billion. It was the only item of business put to a vote at the meeting, Chairman and Co-CEO Bob Duggan said.
Summit intends to disclose the final results in a Form 8-K within four business days of the meeting, Gancarz said. Once the filing is made, a link will be available on the company’s website under the Investor Information, Reports and Filings tab.
Meeting proceedings
Gancarz said the notice of the special meeting and the proxy statement were mailed on or about October 19, 2026, to shareholders of record as of the close of business on October 1, 2026.
Adam Finerman, an attorney with Summit’s outside counsel, BakerHostetler, served as inspector of election. Finerman reported that proxies representing a majority of the total votes entitled to be cast had been received, establishing a quorum.
Duggan said shareholders present at the meeting and those represented by proxy could vote on the proposal. After voting closed and the preliminary result was reported, he accepted the inspector’s report and asked that it be recorded in the meeting minutes.
The company’s management team members attending included Co-CEO and President Dr. Maky Zanganeh and Chief Operating Officer and Chief Financial Officer Manmeet Soni, both of whom also serve on Summit’s board, Duggan said. Gancarz acted as secretary of the meeting.
After the formal business concluded, Duggan left time for shareholder questions. Gancarz said there were no questions, and Duggan said he had received none.
About Summit Therapeutics (NASDAQ:SMMT)
Summit Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing innovative medicines for the treatment of cancer. The company’s primary focus is oncology, with an emphasis on therapies designed to improve outcomes for patients with serious diseases.
Summit’s lead product candidate is ivonescimab, a bispecific antibody that is designed to combine immune checkpoint inhibition against PD-1 with anti-angiogenic activity targeting VEGF. The company is advancing ivonescimab in clinical studies for non-small cell lung cancer and is evaluating the therapy in combination with other cancer treatments and across additional treatment settings.
Summit holds exclusive rights to develop and commercialize ivonescimab in markets outside China through a licensing and collaboration agreement with Akeso, a China-based biopharmaceutical company.
