2024 Q1 Form 10-K Financial Statement
#000159929824000031 Filed on February 20, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $11.60M | $30.30M | |
YoY Change | 53.07% | 13.3% | |
% of Gross Profit | |||
Research & Development | $30.87M | $24.80M | $59.47M |
YoY Change | 212.38% | 360.45% | 14.37% |
% of Gross Profit | |||
Depreciation & Amortization | $27.00K | $30.00K | $198.0K |
YoY Change | -70.0% | -90.16% | -43.27% |
% of Gross Profit | |||
Operating Expenses | $42.60M | $36.20M | $610.7M |
YoY Change | -92.08% | 205.98% | 600.21% |
Operating Profit | -$42.39M | -$609.7M | |
YoY Change | -92.11% | 745.69% | |
Interest Expense | -$253.0K | -$5.026M | |
YoY Change | -96.87% | -214.2% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$1.084M | -$400.0K | -$5.278M |
YoY Change | -79.24% | -104.37% | -21.14% |
Pretax Income | -$36.60M | -$614.9M | |
YoY Change | 90.34% | 680.54% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$43.47M | -$36.60M | -$614.9M |
YoY Change | -91.98% | 90.34% | 680.54% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.06 | -$0.99 | |
Diluted Earnings Per Share | -$0.06 | -$0.05 | -$0.99 |
COMMON SHARES | |||
Basic Shares Outstanding | 701.7M shares | 700.8M shares | 619.6M shares |
Diluted Shares Outstanding | 701.8M shares | 619.6M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $156.7M | $186.2M | $186.2M |
YoY Change | -35.24% | -46.58% | -46.58% |
Cash & Equivalents | $61.29M | $71.43M | $71.43M |
Short-Term Investments | $95.39M | $114.8M | $114.8M |
Other Short-Term Assets | $5.640M | $181.0K | $2.622M |
YoY Change | 1278.97% | -62.76% | -99.13% |
Inventory | |||
Prepaid Expenses | $2.441M | ||
Receivables | $0.00 | $0.00 | |
Other Receivables | $848.0K | $848.0K | |
Total Short-Term Assets | $163.3M | $189.7M | $189.7M |
YoY Change | -34.17% | -71.11% | -71.11% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $181.0K | $204.0K | $6.063M |
YoY Change | -56.07% | -77.48% | 19.33% |
Goodwill | $1.875M | $1.893M | |
YoY Change | 1.96% | 5.28% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.875M | $4.322M | $4.322M |
YoY Change | 1101.92% | 649.05% | 649.05% |
Total Long-Term Assets | $13.52M | $13.24M | $13.24M |
YoY Change | 96.74% | 77.53% | 77.53% |
TOTAL ASSETS | |||
Total Short-Term Assets | $163.3M | $189.7M | $189.7M |
Total Long-Term Assets | $13.52M | $13.24M | $13.24M |
Total Assets | $176.8M | $202.9M | $202.9M |
YoY Change | -30.65% | -69.44% | -69.44% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $6.371M | $2.667M | $2.667M |
YoY Change | 797.32% | 651.27% | 651.27% |
Accrued Expenses | $6.547M | $8.783M | $17.02M |
YoY Change | -46.79% | -17.64% | -5.41% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $23.44M | $20.41M | $20.41M |
YoY Change | 34.37% | -47.39% | -47.39% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $100.0M | $100.0M | $100.0M |
YoY Change | 0.0% | -79.78% | -79.78% |
Other Long-Term Liabilities | $3.310M | $1.562M | $4.852M |
YoY Change | 123.5% | 9.31% | 15.74% |
Total Long-Term Liabilities | $3.310M | $1.562M | $104.9M |
YoY Change | 123.5% | 9.31% | -78.98% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $23.44M | $20.41M | $20.41M |
Total Long-Term Liabilities | $3.310M | $1.562M | $104.9M |
Total Liabilities | $132.6M | $125.3M | $125.3M |
YoY Change | 9.19% | -76.7% | -76.7% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.037B | -$993.3M | |
YoY Change | 12.6% | 162.54% | |
Common Stock | $7.020M | $7.017M | |
YoY Change | 0.63% | 232.56% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $44.21M | $77.69M | $77.69M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $176.8M | $202.9M | $202.9M |
YoY Change | -30.65% | -69.44% | -69.44% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$43.47M | -$36.60M | -$614.9M |
YoY Change | -91.98% | 90.34% | 680.54% |
Depreciation, Depletion And Amortization | $27.00K | $30.00K | $198.0K |
YoY Change | -70.0% | -90.16% | -43.27% |
Cash From Operating Activities | -$30.13M | -$19.46M | -$76.76M |
YoY Change | 129.49% | -474.86% | 84.6% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $4.000K | $2.000K | $128.0K |
YoY Change | -92.45% | -120.0% | -79.49% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $19.88M | $60.57M | -$587.6M |
YoY Change | -103.08% | ||
Cash From Investing Activities | $19.87M | $60.57M | -$587.8M |
YoY Change | -103.08% | 605580.0% | 94094.55% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $104.7M | ||
YoY Change | 4.69% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $485.0K | 6.252M | $86.51M |
YoY Change | -99.39% | -98.8% | -86.05% |
NET CHANGE | |||
Cash From Operating Activities | -$30.13M | -19.46M | -$76.76M |
Cash From Investing Activities | $19.87M | 60.57M | -$587.8M |
Cash From Financing Activities | $485.0K | 6.252M | $86.51M |
Net Change In Cash | -$9.814M | 47.36M | -$577.2M |
YoY Change | -98.3% | -90.98% | -200.06% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$30.13M | -$19.46M | -$76.76M |
Capital Expenditures | $4.000K | $2.000K | $128.0K |
Free Cash Flow | -$30.14M | -$19.46M | -$76.89M |
YoY Change | 128.6% | -474.18% | 82.17% |
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CY2022 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
8468000 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-609650000 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-72089000 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-614928000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-78782000 | usd |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.99 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.99 | |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
619646180 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
619646180 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
193336063 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
193336063 | shares |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-172000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
304000 | usd |
CY2023 | 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 |
CY2022 | 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 |
CY2023 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
36000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
0 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-615483000 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-78478000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
83284000 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
111000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
99889000 | usd |
CY2022 | smmt |
Stock Issued During Period Value Issued For Related Party Interest
StockIssuedDuringPeriodValueIssuedForRelatedPartyInterest
|
7594000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
399000 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
11948000 | usd |
CY2022 | smmt |
Adjustments To Additional Paid In Capital Imputed Interest Expense Related Party
AdjustmentsToAdditionalPaidInCapitalImputedInterestExpenseRelatedParty
|
2018000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
304000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
619000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
929000 | usd |
CY2023 | smmt |
Stock Issued During Period Value In Lieu Of Cash For Collaborative Arrangement
StockIssuedDuringPeriodValueInLieuOfCashForCollaborativeArrangement
|
45900000 | usd |
CY2023 | smmt |
Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
|
1203000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
14108000 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
36000 | usd |
CY2023 | 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 |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-172000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-614928000 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
77692000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-614928000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-78782000 | usd |
CY2023 | smmt |
Business Combination Assumed Contingent Liability Remeasurement Gain Loss
BusinessCombinationAssumedContingentLiabilityRemeasurementGainLoss
|
0 | usd |
CY2022 | smmt |
Business Combination Assumed Contingent Liability Remeasurement Gain Loss
BusinessCombinationAssumedContingentLiabilityRemeasurementGainLoss
|
1265000 | usd |
CY2023 | smmt |
Interest Expense Income Noncash
InterestExpenseIncomeNoncash
|
6253000 | usd |
CY2022 | smmt |
Interest Expense Income Noncash
InterestExpenseIncomeNoncash
|
4303000 | usd |
CY2023 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
1924000 | usd |
CY2022 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
0 | usd |
CY2023 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
812000 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-2616000 | usd |
CY2023 | smmt |
Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income
CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome
|
419000 | usd |
CY2022 | smmt |
Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income
CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome
|
0 | usd |
CY2023 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
474000 | usd |
CY2022 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd |
CY2023 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1852000 | usd |
CY2022 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1251000 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
198000 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
349000 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
914000 | usd |
CY2023 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
0 | usd |
CY2022 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
8468000 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
14108000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11948000 | usd |
CY2023 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
109000 | usd |
CY2022 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | usd |
CY2023 | smmt |
In Process Research And Development Expense
InProcessResearchAndDevelopmentExpense
|
520915000 | usd |
CY2022 | smmt |
In Process Research And Development Expense
InProcessResearchAndDevelopmentExpense
|
0 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-359000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-975000 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
914000 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-5107000 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
3421000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-215000 | usd |
CY2023 | smmt |
Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
|
-4168000 | usd |
CY2022 | smmt |
Increase Decrease In Research And Development Tax Credit Receivable
IncreaseDecreaseInResearchAndDevelopmentTaxCreditReceivable
|
-8437000 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
0 | usd |
CY2022 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-7278000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2263000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-4132000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-2377000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
4782000 | usd |
CY2023 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-235000 | usd |
CY2022 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
1609000 | usd |
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-2211000 | usd |
CY2022 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-1099000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-76760000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-41582000 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
128000 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
624000 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
226000 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd |
CY2023 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
321022000 | usd |
CY2022 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
0 | usd |
CY2023 | us-gaap |
Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
|
208165000 | usd |
CY2022 | us-gaap |
Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
|
0 | usd |
CY2023 | smmt |
Payments For Collaborative Arrangement
PaymentsForCollaborativeArrangement
|
475015000 | usd |
CY2022 | smmt |
Payments For Collaborative Arrangement
PaymentsForCollaborativeArrangement
|
0 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-587774000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-624000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
104686000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
100000000 | usd |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
619000 | usd |
CY2022 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
111000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
5000000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
0 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
1203000 | usd |
CY2022 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
929000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
399000 | usd |
CY2023 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | usd |
CY2022 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
545000000 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
24686000 | usd |
CY2022 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
25000000 | usd |
CY2023 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | usd |
CY2022 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
44000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
86513000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
620244000 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
839000 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-1222000 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-577182000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
576816000 | 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 |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71425000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
648607000 | usd |
CY2023 | us-gaap |
Interest Paid Net
InterestPaidNet
|
10650000 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
434000 | usd |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
52000 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2023 | smmt |
Debt Issuance Costs Incurred But Not Yet Paid
DebtIssuanceCostsIncurredButNotYetPaid
|
0 | usd |
CY2022 | smmt |
Debt Issuance Costs Incurred But Not Yet Paid
DebtIssuanceCostsIncurredButNotYetPaid
|
31000 | usd |
CY2023 | smmt |
Deferred Transaction Costs Incurred During Noncash Or Partial Noncash Transaction
DeferredTransactionCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
0 | usd |
CY2022 | smmt |
Deferred Transaction Costs Incurred During Noncash Or Partial Noncash Transaction
DeferredTransactionCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
425000 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
4245000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2860000 | usd |
CY2023 | 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><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. (</span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">we”, </span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">Summit” or the </span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">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</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">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%">The Company’s current lead development candidate is ivonescimab, a novel, potential first-in-class bispecific antibody intending to combine the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects of an anti-VEGF compound into a single molecule. On December 5, 2022, the Company entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc. and its affiliates (“Akeso”) pursuant to which the Company has in-licensed ivonescimab. Through the License Agreement (as defined in Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">6)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company 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. The Company’s 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%">The Company has begun its development for ivonescimab in non-small cell lung cancer (</span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">NSCLC”), specifically launching Phase III clinical trials in the following indications:</span></div><div><span><br/></span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a) ivonescimab combined with chemotherapy in patients with epidermal growth factor receptor (</span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">EGFR”)-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with a third-generation EGFR tyrosine kinase inhibitor (</span><span style="color:#2c2c2c;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">TKI”) (“HARMONi”); and</span></div><div><span><br/></span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b) ivonescimab combined with chemotherapy in first-line metastatic squamous NSCLC patients (“HARMONi-3”)</span></div><div style="padding-left:36pt"><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%">As of the date of these financial statements, both studies are enrolling patients.</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 with Akeso represents a significant change in the Company’s strategy and its future operations will be focused on the development of ivonescimab and other future activities as the Company determines. The Company’s portfolio includes ridinilazole, a product candidate for treating patients suffering from </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Clostridioides difficile </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">infection, also known as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">C. difficile </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">infection, or CDI. All prior development and marketing activities related to ridinilazole have been terminated. The Company’s anti-infectives portfolio includes SMT-738, the first of a novel class of precision antibiotics for combating multidrug resistant infections, specifically carbapenem-resistant Enterobacteriaceae (“CRE”) infections. The Company will continue to pursue partnerships for further development of SMT-738. </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:120%">In addition to the events detailed in the Company Overview section above, the following other recent developments have occurred. </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%">As noted above, on December 5, 2022, the Company entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso pursuant to which the Company is in-licensing breakthrough bispecific antibody, ivonescimab (Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">6).</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </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 entered into a Note Purchase Agreement (the “Note Purchase Agreement”), with Mr. Robert Duggan and Dr. Maky Zanganeh, pursuant to which the Company agreed to sell to each of Mr. Duggan and Dr. Zanganeh unsecured promissory notes in the aggregate amount of $520,000 (Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </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 7, 2023, the Company commenced its previously announced rights offering (“2023 Rights Offering”). On March 1, 2023, the Company closed the 2023 Rights Offering, which was fully subscribed. The Company received aggregate gross proceeds from the 2023 Rights Offering of $500,000 from the sale of 476,190,471 shares of its common stock at a price per share of $1.05. Issuance costs associated with the 2023 Rights Offering were approximately $619. In connection with the closing of the 2023 Rights Offering, $400,000 of the unsecured promissory notes, issued by the Company to Mr. Duggan, matured and became due and the Company repaid the principal amount and all outstanding accrued interest thereunder using a portion of the proceeds from this 2023 Rights Offering (Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</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, $20,000 of the unsecured promissory notes, issued by us to Dr. Zanganeh, matured and the Company repaid the outstanding principal balance.</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 its 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 its Chief Executive Officers, Mr. Robert Duggan and Dr. Mahkam Zanganeh, respectively, as payment of prepaid interest in connection with the Note Purchase Agreement dated December 6, 2022 between Mr. Duggan, Dr. Zanganeh and the Company (Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). On April 27, 2023, the SEC issued a Notice of Effectiveness for the registration statement on Form S-3 filed with the SEC.</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 October 12, 2023, the Company held a Special Meeting of Stockholders (the “October Special Meeting”) whereby an amendment to the Summit Therapeutics Inc. 2020 Stock Incentive Plan (the “Plan”) to increase the number of shares of the Company</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">s common stock issuable under the Plan by 70,000,000 shares was approved by a vote of the Company’s stockholders at the Special Meeting and subsequently ratified by the Board of Directors.</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 October 16, 2023, the Company announced the appointment of Mr. Manmeet Soni as its Chief Operating Officer, effective immediately. Mr. Soni has been a part of the Company</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">s Board of Directors since 2019. He will remain a member of the Board of Directors. In conjunction with his appointment, Mr. Soni entered into a share purchase agreement with the Company to purchase $5,000 of its common stock via a private placement. The transaction was effective October 13, 2023 with a closing price of $1.68, resulting in the purchase of 2,976,190 shares of the Company</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;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%">s common stock.</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 17, 2024 the Duggan February Note was amended to extend the maturity date from September 6, 2024 to April 1, 2025. For all applicable periods commencing February 17, 2024, interest shall accrue on the outstanding principal balance at the greater of 12% or the US prime interest rate, as reported in the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Wall Street Journal </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">plus 350 basis points, as adjusted monthly, compounded quarterly (Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). Interest shall be paid upon maturity of the loan.</span></div> | |
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 |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
Basis of Presentation, Use of Estimates, and Risks and Uncertainties <div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 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. Any reference in these notes to applicable guidance is meant to refer to authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The preparation of these 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 the 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 </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</span></div> | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
The preparation of these 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 the 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 <div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</span></div> | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-614928000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-76760000 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-993258000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
186242000 | usd |
CY2023Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
100000000 | usd |
CY2023 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
613000 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-4109000 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1064000 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk and of Significant Supplier</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-weight:400;line-height:120%">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of short-term cash deposits and accounts and other receivables. The Company’s cash is comprised of short-term cash deposits at a variety of financial institutions with strong credit ratings in amounts that may exceed federally insured limits and has not experienced any losses on such accounts. Cash balances maintained during the year have been principally held with reputable U.K.-based and U.S.-based banks. The Company does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</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-weight:400;line-height:120%">The Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</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 credit risk with respect to customers and funding bodies is limited as the Company has only a small number of these arrangements. </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 Company relies, and expects to continue to rely, on a number of vendors to conduct its clinical trials and preclinical studies, manufacture drug product and supply clinical trial and preclinical study materials for its development programs. These programs could be adversely affected by a significant interruption in these services or the availability of materials.</span></div> | |
CY2022Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
300000000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
300000000 | usd |
CY2023 | smmt |
In Process Research And Development Expense
InProcessResearchAndDevelopmentExpense
|
520915000 | usd |
CY2023 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2023Q4 | us-gaap |
Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
|
2 | country |
CY2023Q4 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
6062000 | usd |
CY2022Q4 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
5081000 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
0 | usd |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
705000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
CY2021Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
7939000 | usd |
CY2023 | smmt |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
0 | usd |
CY2022 | smmt |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
1397000 | usd |
CY2023 | smmt |
Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
|
0 | usd |
CY2022 | smmt |
Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
|
8790000 | usd |
CY2023 | smmt |
Contract With Customer Liability Foreign Currency Translation
ContractWithCustomerLiabilityForeignCurrencyTranslation
|
0 | usd |
CY2022 | smmt |
Contract With Customer Liability Foreign Currency Translation
ContractWithCustomerLiabilityForeignCurrencyTranslation
|
-546000 | usd |
CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
CY2023 | smmt |
Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
|
946000 | usd |
CY2022 | smmt |
Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
|
4523000 | usd |
CY2023 | smmt |
Other Operating Income Other
OtherOperatingIncomeOther
|
10000 | usd |
CY2022 | smmt |
Other Operating Income Other
OtherOperatingIncomeOther
|
0 | usd |
CY2023 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
1001000 | usd |
CY2022 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
14416000 | usd |
CY2023Q4 | smmt |
Research And Development Tax Credit Receivable
ResearchAndDevelopmentTaxCreditReceivable
|
1807000 | usd |
CY2022Q4 | smmt |
Research And Development Tax Credit Receivable
ResearchAndDevelopmentTaxCreditReceivable
|
5766000 | usd |
CY2023 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
613000 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-4109000 | usd |
CY2023 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
16461000 | usd |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
4401000 | usd |
CY2022 | us-gaap |
Investment Income Nonoperating
InvestmentIncomeNonoperating
|
1513000 | usd |
CY2023 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-252000 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5278000 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-6693000 | usd |
CY2023Q1 | smmt |
Cumulative Currency Translation Gains Losses Realized Upon Sale Or Liquidation Reclassified From Other Comprehensive Income
CumulativeCurrencyTranslationGainsLossesRealizedUponSaleOrLiquidationReclassifiedFromOtherComprehensiveIncome
|
419000 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
-499810000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
-46868000 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-115118000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-31914000 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-614928000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-78782000 | usd |
CY2023 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
58975000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
52948000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
4522000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
1723000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
4128000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
3879000 | usd |
CY2023Q4 | smmt |
Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
|
15982000 | usd |
CY2022Q4 | smmt |
Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
|
3553000 | usd |
CY2023Q4 | smmt |
Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
|
1143000 | usd |
CY2022Q4 | smmt |
Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
|
737000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1260000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
2053000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
86010000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
64893000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
|
1085000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
|
651000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
174000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
226000 | usd |
CY2023Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
1259000 | usd |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
877000 | usd |
CY2023Q4 | smmt |
Deferred Tax Assets Liabilities
DeferredTaxAssetsLiabilities
|
84751000 | usd |
CY2022Q4 | smmt |
Deferred Tax Assets Liabilities
DeferredTaxAssetsLiabilities
|
64016000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
84751000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
64016000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
64016000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
51746000 | usd |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
20735000 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
12270000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
84751000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
64016000 | usd |
CY2023Q4 | smmt |
Research And Development Expense Capitalized Amount
ResearchAndDevelopmentExpenseCapitalizedAmount
|
73129000 | usd |
CY2023Q4 | smmt |
Research And Development Expense Amortizable Amount
ResearchAndDevelopmentExpenseAmortizableAmount
|
65816000 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.034 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.168 | |
CY2023 | smmt |
Effective Income Tax Rate Reconciliation Tax Credit Refundable Research Percent
EffectiveIncomeTaxRateReconciliationTaxCreditRefundableResearchPercent
|
-0.003 | |
CY2022 | smmt |
Effective Income Tax Rate Reconciliation Tax Credit Refundable Research Percent
EffectiveIncomeTaxRateReconciliationTaxCreditRefundableResearchPercent
|
0.036 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
-0.170 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.021 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
|
-0.001 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
|
-0.022 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.008 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.005 | |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | |
CY2023 | smmt |
Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
|
946000 | usd |
CY2022 | smmt |
Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
|
4523000 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1064000 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
|
610000 | usd |
CY2022 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
|
0 | usd |
CY2023 | us-gaap |
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
|
0 | usd |
CY2022 | us-gaap |
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
|
0 | usd |
CY2023 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
454000 | usd |
CY2022 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
0 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
1064000 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-614928000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-78782000 | usd |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
619646180 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
193336063 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
619646180 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
193336063 | shares |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.99 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.41 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.99 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.41 | |
CY2023Q1 | us-gaap |
Share Price
SharePrice
|
1.82 | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
59380094 | shares |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
25526971 | shares |
CY2017Q4 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
1500000 | gbp |
CY2023Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
0 | usd |
CY2023Q4 | us-gaap |
Goodwill
Goodwill
|
1893000 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
1798000 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
14582000 | usd |
CY2023Q4 | smmt |
Finite Lived Intangible Assets Accumulated Amortization And Impairment
FiniteLivedIntangibleAssetsAccumulatedAmortizationAndImpairment
|
14582000 | usd |
CY2023Q4 | 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 |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
914000 | usd |
CY2023Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
175174000 | usd |
CY2022Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
286513000 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
11068000 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
62094000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
|
114781000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
36000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
0 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
|
0 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
|
114817000 | usd |
CY2022Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
0 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1246000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2203000 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1042000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1297000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
204000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
906000 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
198000 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
349000 | usd |
CY2023 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
474000 | usd |
CY2022 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | usd |
CY2023Q4 | smmt |
Research And Development Prepaid Expenses Current
ResearchAndDevelopmentPrepaidExpensesCurrent
|
1466000 | usd |
CY2022Q4 | smmt |
Research And Development Prepaid Expenses Current
ResearchAndDevelopmentPrepaidExpensesCurrent
|
442000 | usd |
CY2023Q4 | smmt |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
7289000 | usd |
CY2022Q4 | smmt |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
8911000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
5859000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
4175000 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2214000 | usd |
CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1384000 | usd |
CY2023 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
83000 | usd |
CY2022 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
137000 | usd |
CY2023 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
0 | usd |
CY2022 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
31000 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
2297000 | usd |
CY2022 | us-gaap |
Lease Cost
LeaseCost
|
1552000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.066 | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y4M24D | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.057 | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y4M24D | |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
2208000 | usd |
CY2022 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1092000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
2810000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
2886000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
893000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
0 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
6589000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
490000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
6099000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
2809000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
3290000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
6099000 | usd |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q4 | smmt |
Business Combination Assumed Contingent Liability Noncurrent
BusinessCombinationAssumedContingentLiabilityNoncurrent
|
1356000 | usd |
CY2022Q4 | smmt |
Business Combination Assumed Contingent Liability Noncurrent
BusinessCombinationAssumedContingentLiabilityNoncurrent
|
1209000 | usd |
CY2022 | smmt |
Business Combination Assumed Contingent Liability Remeasurement Gain Loss
BusinessCombinationAssumedContingentLiabilityRemeasurementGainLoss
|
1265000 | usd |
CY2023 | smmt |
Business Combination Assumed Contingent Liability Remeasurement Gain Loss
BusinessCombinationAssumedContingentLiabilityRemeasurementGainLoss
|
0 | usd |
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 |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
5821137 | shares |
CY2022Q4 | smmt |
Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
|
1.56 | |
CY2022 | smmt |
Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerm
|
P6Y11M26D | |
CY2022Q4 | smmt |
Class Of Warrant Or Right Aggregate Intrinsic Value Outstanding
ClassOfWarrantOrRightAggregateIntrinsicValueOutstanding
|
15640000 | usd |
CY2023 | smmt |
Class Of Warrant Or Right Exercises In Period
ClassOfWarrantOrRightExercisesInPeriod
|
805495 | shares |
CY2023 | smmt |
Class Of Warrant Or Right Weighted Average Exercise Price Exercises In Period
ClassOfWarrantOrRightWeightedAverageExercisePriceExercisesInPeriod
|
1.49 | |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
5015642 | shares |
CY2023Q4 | smmt |
Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
|
1.57 | |
CY2023 | smmt |
Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerm
|
P5Y11M1D | |
CY2023Q4 | smmt |
Class Of Warrant Or Right Aggregate Intrinsic Value Outstanding
ClassOfWarrantOrRightAggregateIntrinsicValueOutstanding
|
5194000 | usd |
CY2022Q3 | smmt |
Common Stock Shares Authorized Increase Decrease
CommonStockSharesAuthorizedIncreaseDecrease
|
100000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
350000000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.41 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.87 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
474000 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
142000 | usd |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
1 | shares |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
14108000 | usd |
CY2022 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
11948000 | usd |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
14108000 | usd |
CY2022 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
11948000 | usd |
CY2023Q4 | us-gaap |
Purchase Obligation
PurchaseObligation
|
0 | usd |
CY2022Q4 | us-gaap |
Purchase Obligation
PurchaseObligation
|
0 | usd |
CY2023Q4 | us-gaap |
Other Commitment
OtherCommitment
|
37700000 | usd |
CY2023Q4 | smmt |
Other Commitment Period For Which The Majority Of Commitments Are To Be Paid
OtherCommitmentPeriodForWhichTheMajorityOfCommitmentsAreToBePaid
|
P1Y | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 |