Summit Therapeutics (LSE:SUMM) Long-Term Capital Lease Obligation : £4.58 Mil (As of Mar. 2024)

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What is Summit Therapeutics Long-Term Capital Lease Obligation?

Summit Therapeutics's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was £4.58 Mil.

Summit Therapeutics's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (£3.13 Mil) to Dec. 2023 (£2.60 Mil) but then increased from Dec. 2023 (£2.60 Mil) to Mar. 2024 (£4.58 Mil).

Summit Therapeutics's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (£1.27 Mil) to Dec. 2022 (£2.27 Mil) and increased from Dec. 2022 (£2.27 Mil) to Dec. 2023 (£2.60 Mil).

Summit Therapeutics Long-Term Capital Lease Obligation Historical Data

The historical data trend for Summit Therapeutics's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Summit Therapeutics Long-Term Capital Lease Obligation Chart

Summit Therapeutics Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.66

0.06

1.27

2.27

2.60

Summit Therapeutics Quarterly Data
	Apr19	Jul19	Oct19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.05	3.43	3.13	2.60	4.58

Summit Therapeutics (LSE:SUMM) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Summit Therapeutics (LSE:SUMM) Business Description

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SMMT:USA

Address

2882 Sand Hill Road, Suite 106, Menlo Park, CA, USA, 94025

Website

https://www.smmttx.com

Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases. Its lead CDI (Clostridiodes difficile infection) product candidate is ridinilazole, an orally administered small molecule antibiotic. It has two geographical segments: the United States and the United Kingdom.

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