Summit Therapeutics Share Discussion Threads

[rumobejo] 17/8/2018 14:56

Buckle up, fallen too much!

[the canadian mounted] 17/8/2018 07:00

Me for one!

[someuwin] 16/8/2018 21:57

...But then who's buying?

[phowdo] 16/8/2018 21:49

No point shorting this as its near cash levels.
Its the funds who were in for the DMD drug exiting their large positions.

[the canadian mounted] 16/8/2018 21:06

Let’s hope so we deserve it.
Criminal how this has been kept down.

[kirk 6] 16/8/2018 20:59

Look at that desperate attempt to sell into close pretty big trades as well. Surely an announcement rns to come?

[someuwin] 16/8/2018 20:43

Yup something very big is happening. This is the second highest daily volume for Summit on NASDAQ ever!

[multiplural] 16/8/2018 20:35

At this moment 2.648.000 ADS or 13.240.000 shares have traded in New York. With around 35% of the capital held firmly we are talking almost 25% of float here. I am totally sure illegal naked shorting is taking place, and I can't wait for the moment where the regulators in New York demands the shorts to be covered. Wow that will be fun.

[kirk 6] 16/8/2018 20:05

Can't believe the volume on the Nasdaq where are these shares coming from? Such a small Mkp for what is now a business in an extremely good position. What's to say we won't have more grants? This is a serious buy now

[luminoso] 16/8/2018 17:28

Ha ha I did say I might be wrong ! Been out all day and back to see this.

[multiplural] 16/8/2018 16:13

We now have 1,9 million ADR's traded in New York, thats some 13% of the total sharecapital. I doubt that the sellers are legit here, but merely some traders shorting this naked. It will be interesting to see when they are forced to cover. The float in this stock is not great, so we could see an explosive move upwards any day imo.

[stealive] 16/8/2018 14:59

Up 16% on the NASDAQ

[maturo] 16/8/2018 13:34

Nice award to use on the new mechanism antibiotic for the treatment of C.
difficile infection ('CDI').

[waterloo01] 16/8/2018 13:21

Lucky top up yesterday for me. Not quite sure if this is new money though as looks like its just firming up a further $12m of the $62m?

Still think we'll see someone make a play for the company, probably before the actual RDZ trial even starts!

[chrisatrdg] 16/8/2018 13:12

NASDAQ currently up 39.36% likely to go down but shows that todays RNS has finally woken up lets hope AIM follows.

[kirk 6] 16/8/2018 12:26

Fantastic news! One of the most undervalued stocks on the markets

[someuwin] 16/8/2018 12:18

Phase 3 trial imminent.

New class of antibiotic

Market cap covered by cash.

Plus...

"It brings the total committed BARDA funding to $44 million, which includes the base package of $32 million announced in September 2017. If BARDA exercises its remaining options in full, the total funding under the contract would increase up to $62 million."

[pre] 16/8/2018 12:14

can buy way under the offer

[someuwin] 16/8/2018 12:13

This is amazing value now.

[the canadian mounted] 16/8/2018 12:10

Like I said patience!

[someuwin] 16/8/2018 12:10

Summit Therapeutics plc

('Summit' or 'the Company')

Summit Awarded Additional $12 Million by BARDA for Phase 3 Development
Programme of Ridinilazole for the Treatment of C. difficile Infection


-- Brings Total Committed Funding Under BARDA Contract to $44 Million


Oxford, UK, and Cambridge, MA, US, 16 August 2018 - Summit Therapeutics
plc (NASDAQ:SMMT, AIM:SUMM), a leader in antibiotic innovation, today
announces that it has been awarded an additional $12 million under its
contract with the Biomedical Advanced Research and Development Authority
(BARDA), a division of the U.S. Department of Health and Human Services,
Office of the Assistant Secretary for Preparedness and Response. The
funds will support the Phase 3 development programme for ridinilazole,
the Company's precision new mechanism antibiotic for the treatment of C.
difficile infection ('CDI').

"BARDA's continued support underlines the promise ridinilazole has as a
potential front-line CDI treatment option which can treat the initial
infection and address the key clinical issue of recurrent disease,"
commented Mr Glyn Edwards, Chief Executive Officer of Summit. "We look
forward to the planned initiation of the Phase 3 clinical trials which
remains on track for the first quarter of 2019."

Today's award represents the first of three optional awards to be
exercised under the BARDA contract. It brings the total committed BARDA
funding to $44 million, which includes the base package of $32 million
announced in September 2017. If BARDA exercises its remaining options in
full, the total funding under the contract would increase up to $62
million. The $12 million in funding will be drawn down to specifically
support drug manufacturing activities required for the submission of
marketing approval applications and other regulatory activities.