Summit Therapeutics Inc. has entered into a significant sub-sublease agreement with Ascendis Pharma, Inc., effective June 16, 2025. The agreement involves 36,406 square feet of office space located in Palo Alto, California. The lease term is set to begin on January 1, 2026, and will last until October 28, 2033. Summit Therapeutics Inc. anticipates making average annual lease payments of approximately $2.8 million. The execution of this agreement was contingent on obtaining consent from both the landlord and the sublandlord. Further details of the agreement will be available in the company's upcoming Quarterly Report on Form 10-Q for the period ending June 30, 2025.
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