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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Port Erin | LSE:PEBI | London | Ordinary Share | IM00B6QH1J21 | ORD 0.0001P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.50 | 4.00 | 5.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPEBI
RNS Number : 8262S
Port Erin Biopharma Investments Ltd
27 June 2018
27 June 2018
Port Erin Biopharma Investments Limited
("PEBI")
Investee Company Update
Summit Therapeutics plc: Ezutromid Trial Fails Primary and Secondary Endpoints
The Board notes that investee company and NASDAQ listed, Summit Therapeutics plc ("Summit") has announced today that their PhaseOut DMD trial has not met its primary or secondary endpoints after 48 weeks of treatment of ezutromid in patients with Duchenne muscular dystrophy ('DMD') and it will therefore discontinue the development of ezutromid. PhaseOut DMD was a multi-centre, open-label Phase 2 clinical trial of the utrophin modulator, ezutromid. As a result, the market capitalisation of Summit has fallen considerably.
PEBI, however, took the decision in mid-May this year to substantially reduce its exposure to Summit by selling 60,975 shares at an average price of GBP1.95 per share, generating GBP118,701.87 net cash now sitting on the balance sheet, thereby realising a profit, based on the original cost of investment, of GBP75,599.08.
PEBI still holds 60,966 shares in Summit at a cost of GBP43,081.22. This holding will form part of the quarterly Net Asset Valuation due to be released at the beginning of July, 2018.
For further information, please contact:
Hot Features
Premium
Port Erin Biopharma Beaumont Cornish Limited Optiva Securities
Investments Limited Limited
The Company Nomad Broker
Denham Eke Roland Cornish/James Jeremy King/Ed McDermott
+44 (0) 1624 639396 Biddle +44 (0) 203 137 1904
+44 (0) 207 628 3396
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
UPDEAPKXAEFPEFF
(END) Dow Jones Newswires
June 28, 2018 02:00 ET (06:00 GMT)
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