$SMMT
Summit Therapeutics Inc. Stock $smmt

$smmt Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000159929823000054 Filed on May 11, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q1
Revenue	$0.00	$0.00	$250.0K
YoY Change	-100.0%	-100.0%	30.21%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$6.316M	$6.940M	$6.659M
YoY Change	-8.9%	4.22%	59.12%
% of Gross Profit
Research & Development	$9.451M	$9.883M	$20.56M
YoY Change	4.92%	-51.92%	11.85%
% of Gross Profit
Depreciation & Amortization	$46.00K	$90.00K	$69.00K
YoY Change	-86.1%	30.43%	-13.75%
% of Gross Profit
Operating Expenses	$15.77M	$537.7M	$27.22M
YoY Change	-1.09%	1875.89%	20.61%
Operating Profit	-$15.79M	-$537.2M	-$22.16M
YoY Change	24.44%	2324.2%	30.93%
Interest Expense	$1.082M	$8.327M	-$152.0K
YoY Change	65.7%	-5578.29%	462.96%
% of Operating Profit
Other Income/Expense, Net	$1.077M	-$5.222M	$761.0K
YoY Change	-126.4%	-786.2%	-234.69%
Pretax Income	-$14.72M	-$542.4M	-$21.40M
YoY Change	-12.25%	2434.82%	22.35%
Income Tax
% Of Pretax Income
Net Earnings	-$14.72M	-$542.4M	-$21.40M
YoY Change	-12.25%	2434.82%	22.35%
Net Earnings / Revenue			-8558.8%
Basic Earnings Per Share	-$0.02	-$1.43	-$0.22
Diluted Earnings Per Share	-$0.02	-$1.43	-$0.22
COMMON SHARES
Basic Shares Outstanding	697.7M shares	697.7M shares	98.07M shares
Diluted Shares Outstanding	697.7M shares	378.2M shares	98.07M shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$215.0M	$241.9M	$77.45M
YoY Change	275.01%	212.37%	-24.21%
Cash & Equivalents	$42.12M	$70.97M	$77.45M
Short-Term Investments	$172.9M	$171.0M
Other Short-Term Assets	$1.787M	$409.0K	$1.475M
YoY Change	-22.3%	-72.27%	49.75%
Inventory
Prepaid Expenses	$6.093M	$1.186M	$4.350M
Receivables	$0.00	$0.00	$870.0K
Other Receivables	$4.607M	$4.500M	$15.29M
Total Short-Term Assets	$227.5M	$248.0M	$99.44M
YoY Change	186.53%	149.44%	-20.59%
LONG-TERM ASSETS
Property, Plant & Equipment	$225.0K	$412.0K	$965.0K
YoY Change	-79.45%	-57.31%	41.08%
Goodwill	$1.883M	$1.839M	$1.953M
YoY Change	4.26%	-5.84%	-4.59%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$254.0K	$156.0K	$166.0K
YoY Change	41.9%	-6.02%
Total Long-Term Assets	$9.871M	$6.870M	$17.04M
YoY Change	-39.52%	-59.68%	9.37%
TOTAL ASSETS
Total Short-Term Assets	$227.5M	$248.0M	$99.44M
Total Long-Term Assets	$9.871M	$6.870M	$17.04M
Total Assets	$237.4M	$254.9M	$116.5M
YoY Change	147.99%	118.85%	-17.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$987.0K	$710.0K	$6.959M
YoY Change	-72.38%	-89.8%	69.15%
Accrued Expenses	$3.868M	$12.30M	$7.569M
YoY Change	-29.84%	62.56%	54.0%
Deferred Revenue	$0.00	$0.00	$5.097M
YoY Change	-100.0%	-100.0%	-31.34%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$11.93M	$17.44M	$22.72M
YoY Change	-21.37%	-23.24%	-68.89%
LONG-TERM LIABILITIES
Long-Term Debt	$100.0M	$100.0M	$25.06M
YoY Change	295.07%	299.12%
Other Long-Term Liabilities	$1.511M	$1.481M	$2.751M
YoY Change	-41.75%	-46.17%	5.69%
Total Long-Term Liabilities	$1.511M	$1.481M	$2.751M
YoY Change	-41.75%	-46.17%	5.69%
TOTAL LIABILITIES
Total Short-Term Liabilities	$11.93M	$17.44M	$22.72M
Total Long-Term Liabilities	$1.511M	$1.481M	$2.751M
Total Liabilities	$117.8M	$121.4M	$52.07M
YoY Change	165.25%	133.2%	-31.84%
SHAREHOLDERS EQUITY
Retained Earnings	-$935.4M	-$920.7M	-$320.9M
YoY Change	176.99%	186.87%	40.52%
Common Stock	$6.976M	$6.976M	$981.0K
YoY Change	611.11%	611.11%	18.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$119.6M	$133.5M	$64.41M
YoY Change
Total Liabilities & Shareholders Equity	$237.4M	$254.9M	$116.5M
YoY Change	147.99%	118.85%	-17.27%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q1
OPERATING ACTIVITIES
Net Income	-$14.72M	-$542.4M	-$21.40M
YoY Change	-12.25%	2434.82%	22.35%
Depreciation, Depletion And Amortization	$46.00K	$90.00K	$69.00K
YoY Change	-86.1%	30.43%	-13.75%
Cash From Operating Activities	-$29.27M	-$13.13M	-$19.00M
YoY Change	52.33%	-30.89%	-8.07%
INVESTING ACTIVITIES
Capital Expenditures	$20.00K	$53.00K	$361.0K
YoY Change	-106.83%	-85.32%	825.64%
Acquisitions
YoY Change
Other Investing Activities	$227.0K	-$645.0M
YoY Change
Cash From Investing Activities	$207.0K	-$645.1M	-$361.0K
YoY Change	-170.65%	178587.81%	825.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-80.00K	$80.11M	$25.19M
YoY Change		218.07%	-54.94%
NET CHANGE
Cash From Operating Activities	-29.27M	-$13.13M	-$19.00M
Cash From Investing Activities	207.0K	-$645.1M	-$361.0K
Cash From Financing Activities	-80.00K	$80.11M	$25.19M
Net Change In Cash	-29.15M	-$577.6M	$5.659M
YoY Change	49.39%	-10307.42%	-84.18%
FREE CASH FLOW
Cash From Operating Activities	-$29.27M	-$13.13M	-$19.00M
Capital Expenditures	$20.00K	$53.00K	$361.0K
Free Cash Flow	-$29.29M	-$13.18M	-$19.36M
YoY Change	54.79%	-31.91%	-6.5%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001599298
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-36866
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	Summit Therapeutics Inc.
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	37-1979717
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	2882 Sand Hill Road, Suite 106
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Menlo Park
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	CA
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	94025
CY2023Q1	dei	City Area Code CityAreaCode	650
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	460-8308
CY2023Q1	dei	Security12b Title Security12bTitle	Common Stock, $0.01 par value per share
CY2023Q1	dei	Trading Symbol TradingSymbol	SMMT
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	697685365	shares
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	70969000	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	348607000	usd
CY2023Q1	us-gaap	Restricted Cash Current RestrictedCashCurrent	0	usd
CY2022Q4	us-gaap	Restricted Cash Current RestrictedCashCurrent	300000000	usd
CY2023Q1	us-gaap	Short Term Investments ShortTermInvestments	170963000	usd
CY2022Q4	us-gaap	Short Term Investments ShortTermInvestments	0	usd
CY2023Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	0	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	349000	usd
CY2023Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1186000	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1504000	usd
CY2023Q1	us-gaap	Other Assets Current OtherAssetsCurrent	409000	usd
CY2022Q4	us-gaap	Other Assets Current OtherAssetsCurrent	486000	usd
CY2023Q1	smmt	Research And Development Tax Credit Receivable Current ResearchAndDevelopmentTaxCreditReceivableCurrent	4500000	usd
CY2022Q4	smmt	Research And Development Tax Credit Receivable Current ResearchAndDevelopmentTaxCreditReceivableCurrent	5766000	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	248027000	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	656712000	usd
CY2023Q1	smmt	Research And Development Tax Credit Receivable Noncurrent ResearchAndDevelopmentTaxCreditReceivableNoncurrent	535000	usd
CY2022Q4	smmt	Research And Development Tax Credit Receivable Noncurrent ResearchAndDevelopmentTaxCreditReceivableNoncurrent	0	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	412000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	906000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	3928000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4175000	usd
CY2023Q1	us-gaap	Goodwill Goodwill	1839000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	1798000	usd
CY2023Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	156000	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	577000	usd
CY2023Q1	us-gaap	Assets Assets	254897000	usd
CY2022Q4	us-gaap	Assets Assets	664168000	usd
CY2023Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	710000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	355000	usd
CY2023Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	12304000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	10664000	usd
CY2023Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	2416000	usd
CY2022Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	5641000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1693000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1690000	usd
CY2023Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	320000	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	662000	usd
CY2023Q1	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	0	usd
CY2022Q4	us-gaap	Notes Payable Related Parties Classified Current NotesPayableRelatedPartiesClassifiedCurrent	19770000	usd
CY2023Q1	us-gaap	Liabilities Current LiabilitiesCurrent	17443000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	38782000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	2491000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	2763000	usd
CY2023Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1481000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1429000	usd
CY2023Q1	us-gaap	Notes Payable Related Parties Noncurrent NotesPayableRelatedPartiesNoncurrent	100000000	usd
CY2022Q4	us-gaap	Notes Payable Related Parties Noncurrent NotesPayableRelatedPartiesNoncurrent	494540000	usd
CY2023Q1	us-gaap	Liabilities Liabilities	121415000	usd
CY2022Q4	us-gaap	Liabilities Liabilities	537514000	usd
CY2023Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000	shares
CY2023Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	20000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
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CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
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CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000	shares
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CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	697685365	shares
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	697685365	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	211091425	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	211091425	shares
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	6976000	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	2110000	usd
CY2023Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	1048608000	usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	504767000	usd
CY2023Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-1396000	usd
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-1893000	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-920706000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-378330000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	133482000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	126654000	usd
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	254897000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	664168000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	0	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	250000	usd
CY2023Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	9883000	usd
CY2022Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	20556000	usd
CY2023Q1	smmt	In Process Research And Development Expense InProcessResearchAndDevelopmentExpense	520915000	usd
CY2022Q1	smmt	In Process Research And Development Expense InProcessResearchAndDevelopmentExpense	0	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	6940000	usd
CY2022Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	6659000	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	537738000	usd
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	27215000	usd
CY2023Q1	us-gaap	Other Operating Income OtherOperatingIncome	584000	usd
CY2022Q1	us-gaap	Other Operating Income OtherOperatingIncome	4807000	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-537154000	usd
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-22158000	usd
CY2023Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-5222000	usd
CY2022Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	761000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-21397000	usd
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.43
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.43
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.15
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.15
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	378163980	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	378163980	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	140040370	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	140040370	shares
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-21397000	usd
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CY2022Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-1760000	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax	419000	usd
CY2022Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax	0	usd
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CY2022Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	0	usd
CY2023Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-541878000	usd
CY2022Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-23157000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	126654000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Stock Issued Issuance Costs AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	619000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	499381000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	651000	usd
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CY2023Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	497000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	133482000	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	83284000	usd
CY2022Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	187000	usd
CY2022Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3996000	usd
CY2022Q1	smmt	Adjustments To Additional Paid In Capital Imputed Interest Expense Related Party AdjustmentsToAdditionalPaidInCapitalImputedInterestExpenseRelatedParty	97000	usd
CY2022Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-1760000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-21397000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	64407000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-21397000	usd
CY2023Q1	smmt	Interest Expense Income Noncash InterestExpenseIncomeNoncash	6123000	usd
CY2022Q1	smmt	Interest Expense Income Noncash InterestExpenseIncomeNoncash	198000	usd
CY2023Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	470000	usd
CY2022Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	-1037000	usd
CY2023Q1	smmt	Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome	419000	usd
CY2022Q1	smmt	Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome	0	usd
CY2023Q1	us-gaap	Tangible Asset Impairment Charges TangibleAssetImpairmentCharges	474000	usd
CY2022Q1	us-gaap	Tangible Asset Impairment Charges TangibleAssetImpairmentCharges	0	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	285000	usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	298000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	90000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	69000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	248000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2775000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3996000	usd
CY2023Q1	smmt	In Process Research And Development Expense InProcessResearchAndDevelopmentExpense	520915000	usd
CY2022Q1	smmt	In Process Research And Development Expense InProcessResearchAndDevelopmentExpense	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-350000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-455000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-331000	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-2682000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-508000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	370000	usd
CY2023Q1	smmt	Increase Decrease In Research And Development Tax Credit Receivable IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable	-850000	usd
CY2022Q1	smmt	Increase Decrease In Research And Development Tax Credit Receivable IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable	1666000	usd
CY2023Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	0	usd
CY2022Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-2658000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	308000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	2759000	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	730000	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-832000	usd
CY2023Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-3238000	usd
CY2022Q1	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-3523000	usd
CY2023Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-367000	usd
CY2022Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-297000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-13131000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-19001000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	53000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	361000	usd
CY2023Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	169995000	usd
CY2022Q1	us-gaap	Payments To Acquire Short Term Investments PaymentsToAcquireShortTermInvestments	0	usd
CY2023Q1	smmt	Payments For Collaborative Arrangement PaymentsForCollaborativeArrangement	475015000	usd
CY2022Q1	smmt	Payments For Collaborative Arrangement PaymentsForCollaborativeArrangement	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-645063000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-361000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	104686000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	usd
CY2023Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	539000	usd
CY2022Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	0	usd
CY2023Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	0	usd
CY2022Q1	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	25000000	usd
CY2023Q1	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	24686000	usd
CY2022Q1	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	0	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions	651000	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions	187000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	80112000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	25187000	usd
CY2023Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	444000	usd
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	-166000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-577638000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	5659000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	648607000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	71791000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	70969000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	77450000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	1306000	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	0	usd
CY2023Q1	smmt	Stock Issuance Costs Incurred But Not Yet Paid StockIssuanceCostsIncurredButNotYetPaid	80000	usd
CY2022Q1	smmt	Stock Issuance Costs Incurred But Not Yet Paid StockIssuanceCostsIncurredButNotYetPaid	0	usd
CY2023Q1	us-gaap	Nature Of Operations NatureOfOperations	Nature of Business and Operations and Recent Events<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Nature of Business and Operations</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Summit Therapeutics, Inc ("we", "Summit" or the "Company") is a biopharmaceutical company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. The Company's pipeline of product candidates is designed with the goal to become the patient-friendly, new-era standard-of-care medicines, in the therapeutic area of oncology.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Recent Events</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On December 5, 2022, we entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc. and its affiliates (“Akeso”) pursuant to which we are in-licensing breakthrough bispecific antibody, ivonescimab. Ivonescimab, is a novel, potential first-in-class bispecific antibody intending to combine the benefits of immunotherapy via a blockade of PD-1 with the anti-angiogenesis benefits of an anti-VEGF into a single molecule. Through the License Agreement, we obtained the rights to develop and commercialize Ivonescimab in the United States, Canada, Europe, and Japan (the “Licensed Territory”). The License Agreement and transaction closed in January 2023 following customary waiting periods. See Note 8 for further information. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The entry into the License Agreement represents a significant change in the Company’s strategy. All prior development and marketing activities relating to ridinilazole are being terminated. All business activities related to anti-infectives are being reviewed for partnership opportunities for potential further development. Our future operations will be focused on the development of ivonescimab and other future activities as the Company determines.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 6, 2022, the Company announced a rights offering for its existing shareholders to participate in the purchase of additional shares of its common stock (the "2023 Rights Offering"). The 2023 Rights Offering commenced on February 7, 2023 and the associated subscription rights expired on March 1, 2023. Aggregate gross proceeds from the Rights Offering were $500,000 from the sale of 476,190,471 shares of the Company's common stock at a price of $1.05 per share, net of issuance costs of $619.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 19, 2023, the Company filed Amendment No. 2 to the Restated Certificate of Incorporation (the “Amendment No. 2”) with the Secretary of State of the State of Delaware to increase the number of authorized shares of its common stock by 650,000,000 (from 350,000,000 to 1,000,000,000), which became effective on such date.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 15, 2023, the $20,000 Zanganeh Note, as defined in Note 14, matured and the Company repaid the outstanding principal balance. In connection with the closing of the 2023 Rights Offering, the $400,000 Duggan Promissory Note, as defined in Note 14, matured and became due, and the Company satisfied all principal and accrued interest thereunder using a combination of a portion of the cash proceeds from the 2023 Rights Offering and the extinguishment of a portion of the amount due equal to the subscription price for shares subscribed by Mr. Duggan in the 2023 Rights Offering.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 17, 2023, the Company filed a registration statement on Form S-3 to register for resale the following shares of the Company's common stock at $0.01 par value: (i) 10,000,000 shares of Common Stock issued on January 17, 2023 in connection with the License Agreement with Akeso pursuant to which the Company issued Akeso such shares; and (ii) the 9,346,434 and 373,857 shares of Common Stock issued in December 2022 to the Company's CEO, Robert Duggan and Co-CEO, Dr. Mahkam Zanganeh, respectively, as payment of prepaid interest in connection with the Note Purchase Agreement dated December 6, 2022 between Robert Duggan, Dr. Mahkam Zanganeh and the Company. On April 27, 2023, the SEC issued the Company a Notice of Effectiveness for the registration statement on Form S-3 filed with the SEC.</span></div><div><span><br/></span></div><div style="margin-bottom:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:119%">On May 3, 2023, the Company announced plans to initiate Phase III clinical studies for ivonescimab in non-small cell lung cancer ("NSCLC"), specifically in the following indications:</span></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:119%">a)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:119%;padding-left:10.24pt">ivonescimab combined with chemotherapy in patients with epidermal growth factor receptor ("EGFR")-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with a third-generation EGFR tyrosine kinase inhibitor ("TKI") (“HARMONi”); and</span></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:119%">b)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:119%;padding-left:9.67pt">ivonescimab combined with chemotherapy in first-line metastatic squamous NSCLC patients (“HARMONi-3”)</span></div>On May 9, 2023, the Company announced that the first United States-based patient had been enrolled in the Phase III HARMONi study. HARMONi is a Phase III multiregional, randomized, double-blinded study. The study, designed with registration intent, has two primary endpoints: overall survival and progression-free survival.
CY2023Q1	smmt	Common Stock Shares Authorized Increase Decrease CommonStockSharesAuthorizedIncreaseDecrease	650000000	shares
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	350000000	shares
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	1000000000	shares
CY2023Q1	us-gaap	Basis Of Accounting BasisOfAccounting	Basis of Presentation and Use of Estimates<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Basis of Presentation</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, certain information and disclosures required by U.S. GAAP for complete consolidated financial statements are not included herein. All intercompany accounts and transactions have been eliminated in consolidation. The interim financial data as of March 31, 2023 and for the three months ended March 31, 2023 are unaudited; however, in the opinion of management, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The condensed consolidated balance sheet presented as of December 31, 2022 has been derived from the consolidated audited financial statement as of that date. The results of the period are not necessarily indicative of full year results or any other interim period. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto of the Company which are included in the Summit Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on March 9, 2023.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial results of the Company's activities are reported in United States Dollars.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The progression of the COVID-19 pandemic continues to evolve and its enduring impact on the Company's business remains uncertain. Management believes the estimates and assumptions underlying its unaudited interim financial statements are reasonable and supportable based on the information available as of March 31, 2023, however, the extent to which the COVID-19 pandemic impacts the Company's financial results for the remainder of 2023 and beyond will depend on future developments that are highly uncertain and cannot be predicted at this time.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accounting policies are consistent with the Notes to Consolidated Financial Statements in our 2022 Form 10-K, except as updated below:</span></div><div><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Marketable securities</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Marketable securities consist of investments with original maturities greater than ninety days from the date of acquisition. The Company classifies investments with maturities of greater than 90 days as short-term, based on the liquid nature of the securities and because such marketable securities represent the investment of cash that is available for current operations. The Company considers its investment portfolio of investments as available-for-sale. Accordingly, these investments are recorded at fair value, which is based on quoted market prices or other observable inputs. Unrealized gains and losses are recorded as a component of other comprehensive income (loss). Realized gains and losses are determined on a specific identification basis and are included in other (expense) income. Amortization and accretion of discounts and premiums is also recorded in other (expense) income.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">When the fair value is below the amortized cost of the asset an estimate of expected credit losses is made, the estimate is limited to the amount by which fair value is less than amortized cost. The credit-related impairment amount is recognized in the condensed consolidated statements of comprehensive loss and the remaining impairment amount and unrealized gains are reported as a component of accumulated other comprehensive income (loss) in shareholders’ equity. Credit losses are recognized through the use of an allowance for credit losses account and subsequent improvements in expected credit losses are recognized as a reversal of the allowance account. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost basis the allowance for credit loss is written off and the excess of the amortized cost basis of the asset over its fair value is recorded in the condensed consolidated statements of comprehensive loss.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Use of Estimates</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of these unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of </span></div>the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued research and development expenses, stock-based compensation, intangible assets, goodwill, other long-lived assets and income taxes. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Use of Estimates</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The preparation of these unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of </span></div>the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued research and development expenses, stock-based compensation, intangible assets, goodwill, other long-lived assets and income taxes. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-13131000	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-920706000	usd
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	70969000	usd
CY2023Q1	us-gaap	Short Term Investments ShortTermInvestments	170963000	usd
CY2023Q1	smmt	Research And Development Tax Credit Receivable ResearchAndDevelopmentTaxCreditReceivable	5035000	usd
CY2023Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	segment
CY2023Q1	us-gaap	Number Of Countries In Which Entity Operates NumberOfCountriesInWhichEntityOperates	2	country
CY2023Q1	us-gaap	Noncurrent Assets NoncurrentAssets	4341000	usd
CY2022Q4	us-gaap	Noncurrent Assets NoncurrentAssets	5081000	usd
CY2022Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	0	usd
CY2021Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	7939000	usd
CY2023Q1	smmt	Contract With Customer Liability Additions ContractWithCustomerLiabilityAdditions	0	usd
CY2022Q1	smmt	Contract With Customer Liability Additions ContractWithCustomerLiabilityAdditions	255000	usd
CY2023Q1	smmt	Contract With Customer Liability Revenue Recognized Including Opening Balance ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance	0	usd
CY2022Q1	smmt	Contract With Customer Liability Revenue Recognized Including Opening Balance ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance	2884000	usd
CY2023Q1	smmt	Contract With Customer Liability Foreign Currency Translation ContractWithCustomerLiabilityForeignCurrencyTranslation	0	usd
CY2022Q1	smmt	Contract With Customer Liability Foreign Currency Translation ContractWithCustomerLiabilityForeignCurrencyTranslation	-213000	usd
CY2023Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	0	usd
CY2022Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	5097000	usd
CY2022Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	0	usd
CY2022Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	0	usd
CY2021Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	7939000	usd
CY2021Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	0	usd
CY2023Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	0	usd
CY2023Q1	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	0	usd
CY2022Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	5097000	usd
CY2022Q1	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	0	usd
CY2023Q1	smmt	Research And Development Tax Credit ResearchAndDevelopmentTaxCredit	542000	usd
CY2022Q1	smmt	Research And Development Tax Credit ResearchAndDevelopmentTaxCredit	1696000	usd
CY2023Q1	smmt	Other Operating Income Other OtherOperatingIncomeOther	8000	usd
CY2022Q1	smmt	Other Operating Income Other OtherOperatingIncomeOther	0	usd
CY2023Q1	us-gaap	Other Operating Income OtherOperatingIncome	584000	usd
CY2022Q1	us-gaap	Other Operating Income OtherOperatingIncome	4807000	usd
CY2023Q1	smmt	Research And Development Tax Credit Receivable Current ResearchAndDevelopmentTaxCreditReceivableCurrent	4500000	usd
CY2023Q1	smmt	Research And Development Tax Credit Receivable Noncurrent ResearchAndDevelopmentTaxCreditReceivableNoncurrent	535000	usd
CY2022Q4	smmt	Research And Development Tax Credit Receivable Current ResearchAndDevelopmentTaxCreditReceivableCurrent	5766000	usd
CY2022Q4	smmt	Research And Development Tax Credit Receivable Noncurrent ResearchAndDevelopmentTaxCreditReceivableNoncurrent	0	usd
CY2023Q1	smmt	In Process Research And Development Expense InProcessResearchAndDevelopmentExpense	520915000	usd
CY2023Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	508000	usd
CY2022Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	930000	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	8327000	usd
CY2022Q1	us-gaap	Interest Expense InterestExpense	152000	usd
CY2023Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	1761000	usd
CY2022Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	0	usd
CY2023Q1	smmt	Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome	419000	usd
CY2022Q1	smmt	Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome	0	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	417000	usd
CY2022Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-17000	usd
CY2023Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-5222000	usd
CY2022Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	761000	usd
CY2023Q1	smmt	Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome	419000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4175000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-542376000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-21397000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	378163980	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	140040370	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	378163980	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	140040370	shares
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.43
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.15
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.43
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.15
CY2023Q1	us-gaap	Share Price SharePrice	1.82
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	26207731	shares
CY2022Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	19097646	shares
CY2023Q1	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	192053000	usd
CY2022Q4	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	286513000	usd
CY2023Q1	us-gaap	Cash Cash	49879000	usd
CY2022Q4	us-gaap	Cash Cash	62094000	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss	169995000	usd
CY2023Q1	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	968000	usd
CY2023Q1	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	0	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest	0	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	170963000	usd
CY2023Q1	us-gaap	Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis	169995000	usd
CY2023Q1	us-gaap	Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue	170963000	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss	169995000	usd
CY2023Q1	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest DebtSecuritiesAvailableForSaleExcludingAccruedInterest	170963000	usd
CY2022Q4	us-gaap	Investments Investments	0	usd
CY2023Q1	us-gaap	Goodwill Goodwill	1839000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	1798000	usd
CY2023Q1	us-gaap	Goodwill Impaired Accumulated Impairment Loss GoodwillImpairedAccumulatedImpairmentLoss	0	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	18654000	usd
CY2023Q1	smmt	Finite Lived Intangible Assets Accumulated Amortization And Impairment FiniteLivedIntangibleAssetsAccumulatedAmortizationAndImpairment	18654000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	0	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	17864000	usd
CY2022Q4	smmt	Finite Lived Intangible Assets Accumulated Amortization And Impairment FiniteLivedIntangibleAssetsAccumulatedAmortizationAndImpairment	17864000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	0	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	248000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	3928000	usd
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	346000	usd
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	212000	usd
CY2023Q1	us-gaap	Variable Lease Cost VariableLeaseCost	43000	usd
CY2022Q1	us-gaap	Variable Lease Cost VariableLeaseCost	10000	usd
CY2023Q1	us-gaap	Lease Cost LeaseCost	389000	usd
CY2022Q1	us-gaap	Lease Cost LeaseCost	222000	usd
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	367000	usd
CY2022Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	297000	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P3Y1M6D
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P4Y1M6D
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.057
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.027
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	19476359	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	3.55
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	918950	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	2.75
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	38250	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	3.74
CY2023Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	177237	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	2.26
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	20179822	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	3.53
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	3920110	shares
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	5.08
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	5115000	usd
CY2023Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	63000	usd
CY2023Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2775000	usd
CY2022Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3996000	usd
CY2022Q4	us-gaap	Purchase Obligation PurchaseObligation	0	usd
CY2023Q1	us-gaap	Purchase Obligation PurchaseObligation	0	usd

Files In Submission

Name	View Source	Status
0001599298-23-000054-index-headers.html	Edgar Link	pending
0001599298-23-000054-index.html	Edgar Link	pending
0001599298-23-000054.txt	Edgar Link	pending
0001599298-23-000054-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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FilingSummary.xml	Edgar Link	unprocessable
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R7.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
smmt-20230331.htm	Edgar Link	pending
smmt-20230331.xsd	Edgar Link	pending
sum-ex311_20230331xduggan.htm	Edgar Link	pending
sum-ex312_20230331xzanganeh.htm	Edgar Link	pending
sum-ex313_20230331xdhingra.htm	Edgar Link	pending
sum-ex321_20230331x10q.htm	Edgar Link	pending
smmt-20230331_cal.xml	Edgar Link	unprocessable
smmt-20230331_def.xml	Edgar Link	unprocessable
smmt-20230331_lab.xml	Edgar Link	unprocessable
smmt-20230331_pre.xml	Edgar Link	unprocessable
smmt-20230331_htm.xml	Edgar Link	completed

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$SMMT
Summit Therapeutics Inc. Stock $smmt

2023 Q2 Form 10-Q Financial Statement

#000159929823000054 Filed on May 11, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMMT Summit Therapeutics Inc. Stock $smmt

2023 Q2 Form 10-Q Financial Statement

#000159929823000054 Filed on May 11, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMMT
Summit Therapeutics Inc. Stock $smmt