Summit Therapeutics Share Discussion Threads

[hugus maximus] 25/10/2017 11:36

Interesting how some have indeed turned this into a great buying opportunity.
Today so far on AIM:

51,000 BUYS 29,000 SELLS

[tilly99] 25/10/2017 08:55

WildbunchWhy buy shares when they issue themselves with shed loads of options?Why do high placings when your mates are the buyers?With names like terry and Griffiths you know they are going to be looked after before us shareholders When I got small amount in book you'd even though I was bidding 30pct more I knew this company was crooked Placing at 9p was nearly subscribed yet they did it at 6.5p at the time More fool me for not selling !! No wonder hybridan resigned at the time Wish Glyn would resign Total shambles!!

[tightfist] 25/10/2017 08:47

Hugus,Many thanks for your out-takes from yesterday (must go back and listen for myself) and the F3 status. Calm nerves required on DMD.It's a pity that C.Diff has seen slow progress this year, I had been hoping that by now the C.Diff value proposition would have provided some ballast to the share price Cheers, tightfist

[luminoso] 25/10/2017 08:45

Agree Hugus and the slippages in timings have not helped. Nothing unusual in the life of a biotech.

[hugus maximus] 25/10/2017 06:42

I agree completely luminoso. After finally listening through the R & D day webcast yesterday, I do think Glyn could have handled the DMD Q&A better. I suspect that it was that which initially sent the share price downward trend ... followed by lemming shareholders.

The contentious webcast question was actually answered perfectly when handed on to the experts: "The billion dollar question is how much utropin is necessary to make the Summit drug work?" ... the answer in essence was "we will find the answer to this question as we analyse the data for release in Q1. We have accurate algorithms in place and using MRI + muscle biopsy data, we will find the quantity of available utrophin versus the effect of changing levels building up as the drug effect progresses."

Sadly Glyn summarised by saying "we don't know the answer to this yet ... nobody in this field does". Folk who didn't understand the detail of the following experts answer, heard Glyn's poor summary and rumours spread like wild fire ... "Crikey - if Summit don't understand at this stage ... what on earth are we investing in?"

This in addition to the fact that F3 has clearly yielded poor (if any) results, causing cancellation of its 24 wk results has added fuel to the fire. I asked a question at the last AGM:- "how long will Summit continue to bother with F3 and focus on the much improved F6?" ... to which a fudged answer "we may still find some useful data in F3" said it all (to me anyway) ... and I've mentioned this several times on this BB. However the results of considerably improved absorption of F6 is what we are waiting for.

To a market that can barely pronounce the word "ezutromid" (and for that matter, I still struggle with "ridinilazole"!) This share is sadly bound to be misunderstood ... so when basic communication about some fundamentals is misconstrued ... the result is what just happened to the share price

EDIT - in addition ALL things DMD in the USA are very much down, partly as a result of "FDA action date 24/10/17 for PTC Therapeutics' "filing over protest" NDA for DMD med Translarna; shares down 5%" It doesn't take much! So - a wonderful buying opportunity presents itself today.

[chrisatrdg] 24/10/2017 21:59

Well put luminoso.

[luminoso] 24/10/2017 20:51

I am not too worried about the Nasdaq losing its love for SUMM in the short term. The perception is that there will be no earth shattering news for some time now, so they are selling off. This can change in a flash with unexpected news as we have seen several times in past year. Apologies if I seem complacent but see nothing to be unduly worried about. Share price is not always a reliable indicator of a company's health, but is a good indicator of the mental health of traders.

[chrisatrdg] 24/10/2017 20:07

Perspective
Hi All - Well I was concerned last Friday but this evening I am very concerned Summit is clearly not flavour of the month & Wednesday does not look good based on current NASDAQ share price There are clearly investors in the US on NASDAQ not Buying into Summit which is dragging down the share price in a big way.Looks to me that US investors see Summit needing yet another year before it makes real progress. I am now down to Hold.

At current NASDAQ share price of $9.85 & at 1.31 exchange rate it takes us to £1.50 for Wednesday not good never ever thought we would ever be down to this level again.

[waterloo01] 24/10/2017 20:05

I've missed a few AGM's since, usually away July. Might have to make the next one though as will have a host of new questions once we get some readout on Utrophin as an approach.

I doubt any of us are happy with the share price performance since the raise, and I did lighten up a bit recently, but hope they will beef up the PR machine and community engagement as they get closer to read-out. Hopefully 'transformational' and not a squib in waiting, but we should recover market cap as that event gets closer. IMO.

Unlikely to go to IMM presentation as I got my questions in directly with them at their AGM but would be interested in your view.

[chrisatrdg] 24/10/2017 19:53

Per BlackTracker7 from the other board at 19.11 this evening.

'Perspective

Not good, not good, not good. SMMT share price on Nasdaq currently just tanked to $10.00. I thought yesterday was bad, but attributed to US Biotech trending down. Now it's gone and done it. Down from $12 earlier this week to now 9.85 on higher than average volume. The recent responses on potential need for new formulations and lack of sufficient evidence to show effectiveness....I will only be holding and selling before DMD Q1 results. Now down to $9.80. Are price targets about to be lowered next? Wind out of the sails and run up it feels like. Finishing off this post before it gets worse.'

[wildbunch] 24/10/2017 18:57

Waterloo-sat next to you-was so impressed when you unfurled your A4 and proceeded to dominate with whole series of great questions! I am not anti anybody-just want to see the return on my investment that these products merit-I hope/believe. You also pointed out recently the issues with the share placement following the great work on the grant. See you are invested in Immupharma-looks very exciting-are you going to presentation next week? ATB.

[waterloo01] 24/10/2017 17:02

Wildbunch you have a good memory.

[football] 24/10/2017 16:58

Why buy shares when you can print them

[wildbunch] 24/10/2017 16:43

OK-here is some perspective from a lth with 30k shares at average of 1.6ish. Not in favour of CEO of non profit making company getting large bonuses based on unspecified corporate objectives and then not investing any of it in shares.

Not in favour of every time a share option is passed the company issues loads more with another horizon.

Not in favour of mis-handled share placements, of which they there have been several. If the recent Barda grant was made conditional on the following share placement-then say so. Instead there was, rightly so, a lot of momentum following the grant-immediately followed by an obvious fall to earth following the placing. Why not wait-for say the share price to get £3 before getting a placement away at say £2.50

I go to AGM's etc and follow this closely. Of course, the company are involved in 2 high un met need drugs which will save/transform lives. Of course, pharma development co's need to be cut slack. But, take the decision to cancel the interim results of current DMD trial. If it was obvious to cancel them it must have been obvious not to say you would have them in the first place.

The time taken taken to get phase 3 c diff trial off the ground is far, far longer than forecast.

This company is not a charitable institution or a pure r and d laboratory in a university. It is a commercial organisation owned by it's shareholder. It is noteworthy that not many of the BOD have dipped their hands very far in their pockets. Some years ago Waterloo asked the Chairman why he had not bought many shares. I think he was bemused by his response as I was!

Goodnight.

[football] 24/10/2017 16:19

$12.00? lol I think most here are expecting a lot more than just, we can't be in a closed period so if the board think things are going so well and they can sell the dream to institutions and get a placing away surely the company is good enough to put their hands in their pockets and spend some of their cash and shares just like everyone else is doing apart from them.

[waterloo01] 24/10/2017 15:23

Whenever the price goes down, out come the anti Glyn brigade. He earned his money a number of times over with the Barda grant. I'm not uncritical, but prefer some balance!

The Nasdaq price can as quickly go back above $12.00. The volume has been low.

[tilly99] 24/10/2017 15:12

Glyn Edwards has done a great job here When u have a CEO who is more concerned about his own pocket and loading up with share options than he is creating value for us shareholders them you know we are in trouble How many share options has he got? He is only a PR man and figurehead..does he deserve all his compensation ?

[phowdo] 24/10/2017 08:29

Uptrend is broken on both UK and US charts.

[football] 24/10/2017 00:03

Summit Therapeutics plc – Ameri (NASDAQ:SMMT) Shorts Down -19.18% – Shares Trading Down

By Jack Tautman - October 22, 2017

[chrisatrdg] 23/10/2017 21:04

Does anyone have any idea what on earth in happening to the Summit share price which is slowly dropping day by day NASDAQ close of $10.86 (although finally caused by a 1 unit at $10.86).

[algernon2] 23/10/2017 01:30

It does look great, a whole different world.

[algernon2] 21/10/2017 17:10

Was this on a screensaver or are you actually there Al?