Summit Therapeutics Share Discussion Threads

[freedosh] 09/11/2016 10:00

Trump plans to make America grate again - bigly
He clearly has the right skill set

[bahiflyer] 09/11/2016 09:46

Amazing to see SUMM down so much in comparison with other sectors especially as the DOW futures have healthcare and Pharma's as the chief risers. UK mm's missing a trick?

[hugus maximus] 09/11/2016 09:22

Agree Waterloo ... the only redeeming news is that Clinton had a desire to take down the price of expensive drugs on her agenda!

In so much as I clearly don't have a clue about the world order any more, I thought we'd wake up to news of a Clinton victory and Summit shares taking a nose dive in response!

(???)

[football] 09/11/2016 09:03

waterloo01 Le pen's odds have been slashed from 6/1 to 7/2 and I think they are too generous, does look like the MM's have marked everyone down today to stop a sell-off or get cheap shares from stop losses

[waterloo01] 09/11/2016 08:59

Seems democracies are rejecting the status quo. What next? French and German elections next!

Should be 'good' for healthcare and biotech if that is any consolation.

[hugus maximus] 09/11/2016 08:55

Well then? The only cheerful news seems to be that today looks like a good the day to buy Summit shares.

[chrisatrdg] 08/11/2016 09:27

Well done guys some great posts maybe we might get an update later in the week we have conference details but no formal RNS (see tweet below).

ACTION DUCHENNE ANNUAL CONFERENCE
11-12 November 2016, London, UK

Edit: Final agenda released for the Action Duchenne International Conference!
previously posted.

Recently Tweeted
Summit Therapeutics ‏@Summitplc 4h4 hours ago
We're excited for @ActionDuchenne this Fri and Sat. Come meet the team and ask us about #utrophin and PhaseOut DMD! #Duchenne

Edit: In addition this week as previously reported by waterloo01 see below:




11 November 10:45 – 11:15 3:45 – 4:15 Richard Vickers, PhD

[waterloo01] 08/11/2016 08:52

or Canada, China, India, Africa ++

[freemoney1] 08/11/2016 08:47

Yes, that's a possibility, but as we were reminded at an AGM, any takeover is subject to a shareholder vote. With such well informed shareholders it will need to be a very good offer indeed.

I've been trying to read through the small print of the redacted agreement at the end of the report:



Some interesting stuff and it certainly looks like a good deal. As you say, close to $1bln for the agreed territories not including the US, Japan or Australia.

Just need to prove it works now, GLA

[waterloo01] 08/11/2016 08:02

freemoney, they have plenty of cash and that's before they start getting revenue from sales. More likely they will attempt to buy us outright if EZD looks like it works.

[freemoney1] 08/11/2016 07:31

Great information Waterloo.
I see that the $522m initially reported comes from the upfront payment and regulatory milestone payments on EZD and second and future generations.
But as you say the number goes well beyond $522m once EZD hits the market.
I also not that Summit could receive large cash payments before EZD gets to market based on the second and future generation development. I guess the first of which would be something like 2nd generation compounds hitting P1 and P2.... maybe next year ?
Summit is certainly very much derisked now... just need Sarepta to keep milking it's shareholders to make the payments, but maybe if they cannot make all the payments do we get the rights for EU and other territories back?

[abergele] 07/11/2016 18:55

We can't quite get our act together here,,
Our last day trading Friday ,yanks up ,,us down,
today,us up,,the yanks are proving the idiots selling.
ahh well,we know how good we are with our products, so lets hold em eh.

[waterloo01] 07/11/2016 15:24

Just looking at SRPT quarterly filing. Territories they have are EU (inc UK?), Switzerland, Norway, Turkey, Iceland and CIS (Russia). The rest of the world remains Summits.

Milestone payments, including on 2nd /3rd + generation products amounts to $852m (not $550m as quoted before) plus low to high teen royalties on net sales

Edit: Sorry it's actually up to $934m plus royalties. Someone should post that on the US boards as they are basing their valuations on the lower number.


-------------------------------------------
On October 3, 2016, the Company entered into an exclusive Collaboration and License Agreement (the “Collaboration Agreement”) with Summit (Oxford) Ltd (“Summit”;) which grants the Company the exclusive right to commercialize products in Summit’s utrophin modulator pipeline in the E.U., Switzerland, Norway, Iceland, Turkey and the Commonwealth of Independent States (the “Licensed Territory”).

Under the terms of the Collaboration Agreement, the Company made an up-front payment of $40.0 million to Summit, with additional payments of up to $192.0 million based on achievement of certain development and regulatory milestones for ezutromid. For Summit’s second generation and future generation small molecule utrophin modulators, the Company may be required to make up to $290.0 million in development and regulatory milestone payments. Additionally, on a product-by-product basis, the Company may be required to make up to $330.0 million in sales milestone payments.

The Collaboration Agreement also grants the Company an option to expand the Licensed Territory. If the Company exercises this option, it will be liable for a one-time $10.0 million option fee as well as up to $7.0 million in regulatory milestone payments. For each licensed product, the Company may be liable for up to $82.5 million in sales milestone payments.

Additionally, the Company may be required to make tiered royalty payments ranging from a low to high teens percentage of net sales on a product-by-product basis in the Licensed Territory.

Under the Collaboration Agreement, Summit will be solely responsible for all research and development costs for the licensed products until December 31, 2017. Thereafter, Summit will be responsible for 55.0% of the budgeted research and development costs related to the licensed products in the Licensed Territory, and the Company will be responsible for 45.0% of such costs. Any costs in excess of 110.0% of the budgeted amount are borne by the party that incurred such costs. Summit is also obligated to spend a specified minimum amount on the research and development of certain licensed products prior to the end of 2019.

[tightfist] 07/11/2016 08:58

Waterloo,Many thanks for the endpts.com link, superb insight into very controversial decision making. The anticipation of "a stroke of brilliance" is exactly the source of investment funding that rapidly found its way to SUMM; for that we should be thankful!However, I do wonder about what FDA regime will confront us when EZD Phase 3 is mature [and how the competitive landscape will have developed with Etelpirsin having been out in the market for a couple of years?]I certainly will still be on-board to find out. Cheers, tightfist

[football] 06/11/2016 23:19

just wish there was someone out there looking into this

[waterloo01] 04/11/2016 19:22

Hence Freedosh's comment about us derisking them (SRPT).

RDZ news might be waiting the trial results (can't be long) but all rather unknown. We'll know when we know!

[luminoso] 04/11/2016 19:05

Hope news will follow Glyn's return, waterloo. Would be good to get something on RDZ soon.
Interesting article that, I am glad we have SRPTs money as I am not sure if they will be able to raise any more in the future on the back of Ex51. Slowly but surely we will replace them as the No1 go to DMD hope.
So relaxed about this share now !

[waterloo01] 04/11/2016 11:23

I suspect news flow will start again next week, especially re RDZ. I understand Glyn has been on holiday, so assuming he's back Monday.....

[football] 04/11/2016 11:13

all the good bits are missing or blanked out

[waterloo01] 04/11/2016 11:05

Anyone fancy digging through this (FDA & SRPT email exchanges).

Lot's of stuff like this:

Your decision seems to say that the “reasonably likely’ standard for accelerated approval need have no quantitative component at all. We all agree that making a reasonable amount of dystrophin would provide a sound basis for accelerated approval. But the amount here – a median value of one part in a thousand that is not perceptibly greater than none – fails to meet the “reasonably
likely” test.

[waterloo01] 03/11/2016 15:57

IF EZ works, this could be very helpful in proving it. (Natural history of 6MWT with clear groups and rate of expected decline based on over 1000 DMD boys)

[football] 03/11/2016 12:00

just put H at the front of the link instead of h




--------------------------------------

[freemoney1] 03/11/2016 11:58

Something to read and comment on while we wait. A nice Summary of where we are but with one or two small typo's and/or errors as far as I'm aware right now. Interesting read though :

hxxps://riskybearinvesting.com/2016/10/28/research-note-summit-therapeutics-aim-summ/

P.S. how do you guess post the links as clickable ?

[chrisatrdg] 03/11/2016 11:48

Action Duchenne ‏@ActionDuchenne 28m28 minutes ago
Final agenda released for the Action Duchenne International Conference!