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By Evie LiuSummit Therapeutics stock jumped about 15% in after-hours trading Monday after pharmaceutical giant AstraZeneca announced a $2 billion investment in the cancer-drug developer, alongside an agreement to collaborate on experimental cancer treatments.AstraZeneca will purchase convertible pr…
By Elias SchisgallAstraZeneca is investing $2 billion into Summit Therapeutics as part of an expanded partnership between the two companies.Summit said Monday that AstraZeneca will buy $2 billion of convertible preferred shares, representing a common stock price of $18.36 a share, a 10% premium to…
By Elias SchisgallAstraZeneca is investing $2 billion into Summit Therapeutics as part of an expanded partnership between the two companies.Summit said Monday that AstraZeneca will buy $2 billion of convertible preferred shares, representing a common stock price of $18.36 a share, a 10% premium to…
Summit said AstraZeneca will buy preferred shares at an equivalent $18.36 a share and the transaction is expected to close by week-end.
Summit Therapeutics NASDAQ:SMMT said on Monday that British drugmaker AstraZeneca LSE:AZN would invest $2 billion in the company and collaborate on a series of studies testing their cancer treatments together.Summit's shares rose over 15% in extended trading following the announcement.Here are some…