Summit Therapeutics Share Discussion Threads

[lagosboy] 02/1/2019 11:41

Its a fund not a multi millionaire and he didn't become a multi millionaire by throwing money at businesses for the benefit of all.

Majority investor has no bearing whatsoever on securing grant money and if chooses to make further investments exiting shareholders will suffer from dilution.

Being dependent upon a majority shareholder for future funding does not help shareholders , it exposes them to adverse corporate actions.

There will be no mega sale of rights as you imply. A licence agreement more likely with a pharma with sales network, typically for a modest upfront milestone payment and further royalties and milestones dependant upon sales. Although I doubt this can be achieved for C-Diff drug in current climate.

[waterloo01] 02/1/2019 10:05

New holder in Polar capital with over 6% to add to Chelvertons 5%

[waterloo01] 01/1/2019 23:10

Cash runway should be longer than that but the new majority investor means it's both easier to get further grant funding or further investment if needed without selling rights too cheaply. They can start because they can now assure they will have access to funds, regardless. The gap at this point isn't big, but if new drugs have traction, future funding isn't a big issue, not with a multi-millionaire in the background . Stupid price given the premium investment. imo.

[wildbunch] 01/1/2019 20:08

Waterloo-I thought that they have cash runway to January 2020. I also thought that these phase 3 trials take 2 years to complete. They won't start until Q1 2019 so complete Q1 2021. What have I got wrong?

HNY all

[chrisatrdg] 28/12/2018 21:18

Looking at this evening's NASADQ 5.93% up on good volume 34,993 $1.25 = £0.20 hopefully a positive sign for next year.

[chrisatrdg] 28/12/2018 15:28

About to go online.

[waterloo01] 28/12/2018 15:04

Don't forget to vote your shares in favour of the investment at a premium. You need to instruct your brokers.

[lagosboy] 28/12/2018 14:49

Deal with SRPT, that as way to late as you well know and was merely a punt heavily favouring SRPT for their own shareholders. In any event its dead now anyway, so how you reach the conclusion that is was a good deal is beyond my logic.

By the time Summ get anything to market the bacteria will have mutated and it will be ineffective or have such a short useful life that no pharma will be interested anyway.

Barda is a driven by political considerations as much as medical ones. Whoopee for Glyn, such a great deal that the share price has roared.

As for cash- my point is $25m or whatever the figure is now for Summ is irrelevant in the context of the future funding that will be necessary. If Summ was sitting on a cash runway of $250m plus that would be a different matter.

$25m will barely cover Glyn's salary, air travel and conference attendance!

[chrisatrdg] 28/12/2018 14:42

Hi All - waterloo01 is spot on.

In particularly I agree with the second paragraph repeated below & it is Summits C-Diff ace in the pack i.e. aiming for 1st & 2nd line treatment & that is what the findings to date tells us & will create real share price value.

'As for your 2nd point, re value in C.diff, I'd again disagree with you. They are going for superiority, not just equivalence, and aiming it at 1st and 2nd line. If they get the right pricing model, it could quickly become standard of care and a $1bn drug.'

In addition although we are all feeling sore with the large paper losses we are sitting on & actual losses I do expect a gradual increase in the share price in 2019 as progress is made with the C-Diff trial & as I expect further news coming from Discuver.

[waterloo01] 28/12/2018 14:06

Well yes of course cash will be spent, it's not a bank, as far as cash level being irrelevant, that is just a daft statement. If they didn't have cash, then you would have a point, but they have just bought in money at a premium to build on existing cash and the grant monies, enough to run the 2 phase 3 trials and develop the the next target in Gonorrhoea.

As for your 2nd point, re value in C.diff, I'd again disagree with you. They are going for superiority, not just equivalence, and aiming it at 1st and 2nd line. If they get the right pricing model, it could quickly become standard of care and a $1bn drug.

As for your comments on Glyn. Your are entitled to your view but the criticism that he didn't take advantage, he did. He did a deal with SRPT that bought in $20m + and covered 45% of costs, he bought in Barda, potentially $62m of non dilutive cash. He also raised when the price was high, when they didn't need to but it proved rather prudent.

Obviously not one for you though.

[kirk 6] 28/12/2018 13:58

How is cash position irrelevant in Valuing a company ? They hagfish just raised another 25m and if success there is a high chance of partnering with a larger pharmaceutical company! What's more is risk reward now is massively in favour of the upside so warning people seat is risky not that many people take much much notice of posters !??Take it your gong to vent your frustration to the company

[lagosboy] 28/12/2018 13:13

Cash position is irrelevant as it will be spent and is drop I the ocean in comparison to what will be needed to get a drug to market.

The market clearly does not ascribe much if any value to the C-Dif drug, a view I share, not because it is a por drug, but it is one that will not work on a commercial basis sufficient for big pharma to get interested.

Not someone, a fund speculative fund and a modest investment in the bigger schema of things. I suspect first move in gaining overall control of the company.

Anyone attending should be questioning why Glynn is still involved and still issuing himself millions of options despite a track record of complete failure.

My beef is that when my holding was much greater Glyn did not take advantage of a bio pharma bubble and funding frenzy to partner with a larger pharma or sell out altogether but that would have meant giving up his CEO, control and option printing.

I have no idea how Glyn has gotton away with it, airmiles attending conferences throughout the globe have achieved diddly squat but are always subject to an RNS for some reason. His reputation is poor within the industry and yet he remains so have to give him some credit when it comes to savvy playing the corporate game despite never ever delivering any shareholder value.


One to steer well clear of now in my view.

[kirk 6] 28/12/2018 12:37

I'm hoping by end of Q1 we are over 40p minimum

[waterloo01] 28/12/2018 12:07

And someone just bought almost 50% of the company at 25p. All these shares amongst others won't enter the market so free float is even lower. Once it moves it should quite quickly.

[kirk 6] 28/12/2018 12:02

Why is the share price so incomprehensibly low? We now have a much greater cash position than mkp and a huge amount of news to look forward to in Q1 2019.?

[chrisatrdg] 28/12/2018 09:07

Is anyone going on the 4th January for the Summit shareholders meeting in London - I will be supporting the motions but will not be going.I see it as just a legal necessity & the motions will get passed. I only had wished that they had delayed to after the launch of C-Diff phase 3 for fund raising & maybe been able to negotiate a higher price than 25p.Hey Ho.

[kirk 6] 26/12/2018 19:29

Moving up on the Nasdaq

[chrisatrdg] 19/12/2018 17:06

Summit tweet:
Dr. Martinello (Yale) described his views on #antimicrobialstewardship, #Cdiff & #ridinilazole in our @Slingshot_Invst call: "Once you know the bacteria that is causing the problem, you use the most focused antibiotic possible." transcript available at hxxp://summitplc.com .

Link:

[algernon2] 19/12/2018 10:16

Ah well if he's a Scientologist then I think we will find the way ahead is "clear":

............"WHAT IS THE STATE OF CLEAR?

Clear is the name of a state achieved through auditing and describes a being who no longer has his own reactive mind, the hidden source of irrational behavior, unreasonable fears, upsets and insecurities. Without a reactive mind, individuals regain their basic personality, self-determinism and, in essence, become much, much more themselves.

The full glory of the state of Clear has no comparable description in any writings existing in our culture. It is a goal Man has dreamed of achieving for more than 2500 years, yet the state of Clear is far above anything anyone even conceived of previously. Indeed, that one could become something far higher and better than a human being, personally and in a single lifetime, is a brand-new concept.

The state of Clear does exist today and is attainable by all. Thousands upon thousands of Scientologists all over the world are Clear and more achieve this state with every passing day."



[waterloo01] 19/12/2018 07:58

Thanks for that.

Summit Therapeutics (SUMM)

What have shares done?

Summit has not had a good year. Shares fell off a cliff in June from 195p to 36.9p. They have recovered slightly to sit at 20.3p.

What’s its current market cap?

£14.8m.

What was cash at last count?

The company had cash and cash equivalents of £13m on 31 October 2018. However, earlier this week it announced that it would raise $25m by selling American Depositary Shares in a private placement.

What’s next?

As we have noted before, the biotech firm fell by as much as 80pc in July. This came after it revealed that it had discontinued its treatment for Duchenne Muscular Dystrophy. Despite this setback, the firm has been working to move forward. It is now focusing on the development of the three antibiotics left in its pipeline.

This week, the business announced a whopping $25m placing. The funds will support a critical phase three clinical programme for ridinilazole. This is an antibiotic for colon infection C. Difficile. Unlike similar medications, it does not cause damage to natural gut flora during treatment. The money will also advance studies for the treatment of gonorrhoea.

As Summit has demonstrated, investing in pharma businesses can be a bit like roulette. This is because these businesses often completely hang on the outcome of trials and the whim of regulators. If this is of interest, then Summit’s ambitious work programme could generate some significant share price movement.

[burtond1] 19/12/2018 07:48

https://total-market-solutions.com/2018/12/19/our-outlook-for-2019-part-1/

[freedosh] 19/12/2018 01:07

Correct luminoso.

[kirk 6] 18/12/2018 18:42

Agree but at 20p the risk reward is immense could easily be worth 5 times this price in the summer if not more

[lagosboy] 18/12/2018 18:19

If he loves it so much why didn't he simply make an offer for the whole shooting match once the 30% was breached.

There's always a game plan and its never to make a bunch of shareholders rich. That's just the way it is. Glyn a perfect example.