Finance Watch: Summit Raises $500m For Shift From Anti-Infectives To Oncology
Proceeds Will Repay Debt, Fund Phase III Trials
Public Company Edition: Summit initiated the big rights offering earlier this year as promised in December when it licensed Akeso’s PD-1/VEGF bispecific. Also, Teva sold $2.49bn in sustainability-linked notes to pay down debt, while MorphoSys, Novavax and others restructured and cut jobs.
