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SUMM Summit Therapeutics Plc

20.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Summit Therapeutics Plc LSE:SUMM London Ordinary Share GB00BN40HZ01 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 20.50 18.00 23.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Summit Therapeutics Share Discussion Threads

Showing 40576 to 40594 of 41850 messages
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DateSubjectAuthorDiscuss
17/12/2018
09:44
Isn't this brilliant news ? Not only substantial cash raised at a 30% premium, long term investor on board and if trials are successful in 2019 this is back in the £s. 2019 should be transformational
kirk 6
17/12/2018
09:41
I hope Erik's departure was not connected to the rights issue
luminoso
17/12/2018
09:23
Glyn's tweet this morning:

Great to have a new investor who is committed to out antibiotic vision.

My reply:

But Glyn at a huge discount half the company for an extra 4 months added to the cash run way.However I will be supporting the motion in January & now holding half of my % of the company now looking to double up when cash allows.Bitter sweet RNS.

chrisatrdg
17/12/2018
08:22
I guess I will see a number of you at the meeting in January & yes I will be supporting the motion.The RNS does at least Buy us some time & the current share price will still allow me to top up next year.Regards to all.
chrisatrdg
17/12/2018
07:50
Excellent news. 32% premium. Funding sorted and all into sticky hands.
waterloo01
17/12/2018
07:46
The RNS is effectively a sale of the Company at 25p which for me is giving the company away & only takes the company to January 2020 (Only another 4 months) so will still need funds beyond that point my holding % has now halved (I think we have been here before).Clearly the Directors must have felt the Company was in 'The last chance saloon'.

Edit: Currently the markets look favourably on the RNS up 19.44 % (Good for some who have recently Bought well done to you all).

chrisatrdg
17/12/2018
07:39
Wow that's got to be good news surely
kirk 6
17/12/2018
07:36
"It is expected that Mr Duggan will have a shareholding of approximately 48.81% of the total voting rights of the Company immediately following completion of the Subscription."
phowdo
17/12/2018
07:26
Fund raising RNS

Well I am not surprised at the news as Summit needed funds to get them into 2020 & at current exchange rates values the shares at 25p (approx).Well lets see what happens at 8.00 this morning.At the moment I have it as Hold.GLA.

PS Ironically I was going to ring Summit this morning to clarify the issue of funding for the C-Diff trials for next year.

chrisatrdg
16/12/2018
17:46
No idea but if you like it.
waterloo01
16/12/2018
15:33
Sure, well most of it. Why?
waterloo01
11/12/2018
16:11
Hi waterloo01 I accept your comments but to have balance on what has been published today by Summit the 'Qualification' within the notes to the accounts needs mentioning.I also hope that they find the additional funds & by starting the trial next Qtr it is encouraging.

I need to average down & if I have funds from my other investments I am looking to Buy between 25,000 shares & 50,000 shares but will think hard before I do (likely by March next year).

I have been here before with INFA an investment which was in 'the last chance saloon' a year or so ago & is now flying hopefully Summit will be the same - further assurance of funds could take us back to £1 a share (I hope so as that is my current break even point).

chrisatrdg
11/12/2018
15:54
These were some of the concerns that spooked the market at dropped this down to so low levels. We should now see a reversal as those concerns have been firmly put to bed. 1) The trial is going ahead 2) They have funds to fund a the whole trial. 3) Hold £13M cash.
zen12
11/12/2018
15:43
Chris, I spoke to them and they are quite confident they will fund the gap. I'd be very surprised if this isn't in place well before the trial starts.

They have lots of options (as highlighted in the statement) but rights and or further grant would be my best guess.

waterloo01
11/12/2018
15:38
Todays RNS - My comments

Below is an extract from the notes to the accounts & reflects that the Company does not have a 12 months cash runway & puts Summit back to a part qualified position a situation Summit have been in before.Within the paragraph below are the following words :

'These circumstances represent a material uncertainty which may cast and raise substantial doubt on the Groups ability to continue as a going concern.' see included below:

'The Group is evaluating various options to finance its cash needs, through a combination of some, or all, of the following: equity offerings, collaborations, strategic alliances, grants and clinical trial support from government entities, philanthropic, non-government and not-for-profit organisations and patient advocacy groups, debt financings, and marketing, distribution or licensing arrangements. Whilst the Group believes that funds would be available in this manner before the end of September 2019, there can be no assurance that the Group will be able to generate funds in this manner, on terms acceptable to the Group, on a timely basis or at all, which would impact the Group’s ability to continue as a going concern. The failure of the Group to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Group’s business, results of operations and financial condition. These circumstances represent a material uncertainty which may cast and raise substantial doubt on the Group’s ability to continue as a going concern. The interim financial statements do not contain any adjustments that might result from the outcome of this uncertainty'

The cash forecast has not been extended beyond September 2019 as also reported in the previous quarters accounts and this will look even worse if as at 31st January 2019 this remains the same.In the belief that Summit will find additional funds before next September the current share price makes for a Strong Buy.However Summit,in my opinion, has some 6 months to find additional funds or it will be in 'the last chance saloon'.

chrisatrdg
11/12/2018
15:31
Trading in US at 21p
multiplural
11/12/2018
15:30
Should be in the 20s tomorrow gla
zen12
11/12/2018
13:46
What’s up with markets - full of derampers at the minute lol. No bad news and CEO has said have enough cash for trial but still you get these guys trying to bash..an already bashed share!
zen12
11/12/2018
13:37
Agreed, impossible for any small pharma to bring a drug to market - they don't have the infrastructure and sales force on the ground for starters.

Summ needs a licensing deal - can't see any big pharma interest being likely until P3 readouts available ( August 2021 earliest), so funding is going to become a real issue.

They said they were 'on track' and also that they 'expected' - typical Glyn wording with a get out built in if not achieved.

As per US Clinical Trials.gov website

hxxps://clinicaltrials.gov/ct2/show/NCT03595553?term=Ridinilazole&rank=1

680 participants, recruitment status is not yet recruiting

Estimated study start date March 2019

Estimated Primary & Study Completion date May 2021.


I don't know much about Discuva - but am intrigued as to why the platform was let go for a lowly £10m if my memory serves me correctly.

lagosboy
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