SMMTSummit Therapeutics Inc.
Pharmaceutical Preparations
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $12.7B
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 0.1
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes3 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.1 per 10K words · 8th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$12.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$104M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2M | $705K | $0 | $0 | — | |
| Operating income | −$86M | −$72M | −$610M | −$226M | — | |
| Net income | −$89M | −$79M | −$615M | −$221M | −$1.1B | 388% |
| Operating cash flow | −$73M | −$42M | −$77M | −$142M | −$323M | 127% |
| Capex | $306K | $624K | $128K | $139K | $657K | 373% |
| Stock-based comp | $13M | $12M | $14M | $51M | $732M | 1337% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 13, 2024 | DUGGAN ROBERT W | SC 13D/A | 75.2% | Passive |
| Mar 13, 2023 | Zanganeh Mahkam | SC 13D/A | 5.3% | Passive |
| Feb 16, 2023 | DUGGAN ROBERT W | SC 13D/A | 78.1% | Passive |
| Dec 9, 2022 | DUGGAN ROBERT W | SC 13D/A | 81.8% | Passive |
| Aug 18, 2022 | DUGGAN ROBERT W | SC 13D/A | 81.2% | Passive |
| May 14, 2021 | DUGGAN ROBERT W | SC 13D/A | 70.8% | Passive |
| Apr 22, 2021 | DUGGAN ROBERT W | SC 13D/A | 69.4% | Passive |
| Mar 26, 2021 | DUGGAN ROBERT W | SC 13D/A | 69.4% | Passive |
| Nov 25, 2020 | Zanganeh Maky | SC 13D/A | 6.6% | Passive |
| Nov 10, 2020 | Zanganeh Maky | SC 13D/A | 6.6% | Passive |
Insider trading
- Open-market buys, 12 mo
- $104M · 6
- Open-market sells, 12 mo
- $0 · 0
- Net
- $104M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 372 | 120 |
| FY2024 | — | — | 380 | 114 |
| FY2023 | — | — | 56 | 116 |
| FY2022 | — | — | 90 | 112 |
| FY2021 | — | — | 57 | 126 |