Summit Therapeutics (SMMT) IPO Opens Fractionally Higher

Today's IPO for Summit Therapeutics (NASDAQ: SMMT) opened for trading at $10.02 after pricing ts underwritten initial public offering of 3,450,000 American Depository Shares (“ADSs”) at a public offering price of $9.90 per ADS.

JMP Securities and Oppenheimer & Co. are acting as joint book-running managers for the offering. Needham & Company is acting as lead manager.

Summit is a biopharmaceutical company focused on the discovery, development and commercialization of novel medicines for indications for which there are no existing or only inadequate therapies. Summit is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy and the infectious disease Clostridium difficile infection. Summit is already quoted on the AIM market of the London Stock Exchange and trades under the ticker symbol “SUMM”.

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