Summit fund raise in January 2021 but no RNS21 Jan 2021 22:35
Please note SEC filings this month - am I missing something or is this not a further fund raise unannounced ?????
https://www.nasdaq.com/market-activity/stocks/smmt/sec-filings
Edit: Just part of the SEC
'We believe that our existing cash and cash equivalents, as well as the remaining committed amounts receivable that we have been awarded under our contract with the Biomedical Advanced Research and Development Authority, or BARDA, for the development of ridinilazole, will be sufficient to enable us to fund our operating expenses and capital expenditure requirements until the fourth quarter of 2021. While these capital resources have allowed us to initiate our two Phase 3 clinical trials of ridinilazole, we do not expect to be able to complete these trials without additional capital. These circumstances led management to conclude that substantial doubt on our ability to continue as a going concern for a period of one year from the issuance of our consolidated financial statements exists. Our failure to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on our business, results of operations and financial condition.'
Edit: They clearly are looking for a 12 month cash runway when they issue their 12 month accounts to 31st December in order to have a clean Audit Report - just hope they succeed !!!!!!!!!