Summit Therapeutics Share Discussion Threads

[kirk 6] 18/12/2018 17:01

Would would Duggan want to own 49% share then ?

[waterloo01] 18/12/2018 16:04

Chelverton (UK growth fund) likes it enough to buy 5%

Don't underestimate the power of this investor, especially in the States. High profile and hopefully vocal on Summit's behalf.

IF they ever need to raise more, he could probably just bring in a few mates but his reputation is for creating significant value.

[waterloo01] 18/12/2018 15:06

It's quite a stake and the $25m gets them a lot further than I think some here are suggesting. Good to see a new II on the roll as well. I understand he's been interested in SUMM for sometime, but was less keen - wisely as it turns out- on the DMD drugs. Now it's a pure play antibiotic company and now funded to do the phase 3, it's all to play for.

Surprised that the share price is still over 25% below the price he's bought in at. I suspect it's a lack of buyers rather than a seller, as of the 4 trades so far today, 2 are mine.

Next news will hopefully be about deals or grants, the start of the phase 3 and further progress with the main targets.

Regardless and this is a major blessing in these markets, we are now funded at least until 2020.

[football] 18/12/2018 14:40

Top Gun calling the shots now




Bob Duggan: Meet the US biotech billionaire taking a 49% stake in Summit


Mates with Tom Cruise (possibly)
His money has also gone into one of his other passions: the Church of Scientology.

[lagosboy] 18/12/2018 14:40

That is correct - issued share capital is currently 82,264,881 shares, 4,250,000 acquired by Northern Trust which is 5.17% of issued share capital.

[football] 18/12/2018 14:38

Fighting Resistance: How “Antibiotic Stewardship” is Shaping the Utilization of Antibiotics with a focus on antibiotics with new mechanisms of action in development

[luminoso] 18/12/2018 14:28

Possibly from Lansdowne ?

[kirk 6] 18/12/2018 14:19

So northern trust bought 4.5m shares ?

[lagosboy] 18/12/2018 14:02

De-listing on the way, further funding is still needed in not too distant future.

Why would Duggan want to carry a bunch of shareholders on his back in a company , which without his intervention would be finished anyway.

Too many buying into romanticism, not the way it works in the real world.

[kirk 6] 18/12/2018 13:26

Holding rns out

[kirk 6] 18/12/2018 13:10

What's the total cash position once there receive 25m? Agree we should be trading much higher will pick up Q1 2019

[waterloo01] 18/12/2018 12:20

A new II on-board and still trading 25% below the Mr Duggan $25m investment.

[waterloo01] 17/12/2018 20:48

Hopefully cleared. Point 72 or Lansdowne? Great timing in the raise. Tomorrow would have been an issue. Not up as much as it should be but still up on Nasdq on a very bleak day.

[chrisatrdg] 17/12/2018 20:01

Late Sells

I wonder if we will see a shareholdings change RNS following the two very large Sells today & who it will be.

17-Dec-18 11:19:5818.00 1,375,000 Sell* 18.00 21.00 247.50k O



17-Dec-18 11:19:4718.00 1,125,000 Sell* 18.00 21.00 202.50k O

[luminoso] 17/12/2018 19:07

Well let’s hope Duggan does for us what he did for Pharmacyclics. Luck or not !
I am certainly holding but doubt I’ll be buying more.

[waterloo01] 17/12/2018 14:08

Have a great Xmas. Given current market conditions, and the volatility ahead, it seems they have raised just at the right (and maybe last) moment for awhile.

Added a few times today and hope to see Nasdaq up to or over the 25p level of the raise.

[freedosh] 17/12/2018 13:30

Hi waterloo01. I know Noosa well and it’s still in Queensland! It’s really nice. I’m in Claremont (Perth) for Christmas with one of my sons who lives here. He was also a SUMM investor got out ahead of crash. That just leaves 4 of my family trapped here!

[waterloo01] 17/12/2018 12:59

Your quite correct. Only a few miles apart!

[solomon] 17/12/2018 12:56

Noosa is in Queensland, Eastern Oz

[waterloo01] 17/12/2018 12:46

Freedosh, who's friends with whom?

Where are in in WA as my daughter is also there in a town called Noosa. Sounds lovely.

[kirk 6] 17/12/2018 12:32

How long do you think this will take to recover? Are we taking Q1 2019

[freedosh] 17/12/2018 12:27

Greetings from scorching W Australia. Robert Duggan is both an astute and a lucky investor. I tried to convince my old company to buy Pharmacyclics very early on in their clinical development of Ibrutinib, but failed. It has gone on to become a blockbuster and may well become one of the biggest oncology drugs of all time.
Mr Duggan walked away with $3.5B having invested about $50M. He actually invested for a different drug that bombed. Hence the lucky.
I suspect fireworks - but for us long term holders we may at least recover some of our investment.
There is an interesting “social” aside but I’ll leave it to others to discover that.

[waterloo01] 17/12/2018 11:46

Proactive piece on Duggan

"Duggan was the boss of Pharmacyclics and oversaw the company’s US$21bn sale to US pharma giant AbbVie back in 2015"

[football] 17/12/2018 09:56

If you was a potential investor looking at biotech companies would you pay a premium of 32% if you hadn't done due diligence and being to see the company and get hands-on information of our trials are going and what the likelihood of success will be? $25 million is a lot of money in anyone's books and isn't invested on a whim I'm not saying the trials will be 100% successful is always a chance of some reaction but you wouldn't invest that sort some of money without some pretty strong evidence from the company if not insider knowledge from someone.

But anyhow gives us More years to prove the science is right.

[waterloo01] 17/12/2018 09:52

I fundamentally disagree, but guess that makes a market. 32% premium. How that's negative I don't know. Naturally it would be great if the share price was higher, but now funded phase 3 in RDZ (the cash coming in will also release more of the Barda money).