Summit Therapeutics Inc 2025年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted postedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying Large accelerated filer☒Non-accelerated filer☐ with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). The aggregate market value of the voting common stock held by non-affiliates based on the closing stock price on June 30, 2025, was$2,483.8 million. For purposes of this computation only, all executive officers and directors have been deemed affiliates. The number of outstanding shares of the registrant’s common stock, par value $0.01 per share, as of February 17, 2026 was 775,372,700. Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement relating to the registrant’s 2026 annual meeting of stockholders to be filed hereafter areincorporated by reference into Part III of this Annual Report on Form 10-K. The registrant’s definitive proxy statement will be filed with theU.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates. TABLE OF CONTENTS Cautionary Note Regarding Forward-Looking StatementsSummary of Risk Factors PART IItem1.Business1Item1A.Risk Factors31Item1B.Unresolved Staff Comments66Item 1C.Cybersecurity66Item2.Properties67Item3.Legal Proceedings67Item4.Mine Safety Disclosures68PART IIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities69Item6.[Reserved]70Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations70Item 7A.Quantitative and Qualitative Disclosures About Market Risk82Item 8.Financial Statements and Supplementary Data82Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure82Item 9A.Controls and Procedures83Item 9B.Other Information83Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections83PART IIIItem 10.Directors, Executive Officers, and Corporate Governance84Item 11.Executive Compensation84Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters84Item 13.Certain Relationships and Related Transactions, and Director Independence84Item 14.Principal Accounting Fees and Services84PART IVItem 15.Exhibits, Financial Statement Schedules85Item 16Report Summary89Signatures90 This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of the Private SecuritiesLitigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended (the "Exchange Act"), regarding the future financial performance, business prospects andgrowth of Summit Therapeutics I