Summit Therapeutics Share Discussion Threads

[chrisatrdg] 06/10/2020 10:52

Summit Therapeutics files for $200M mixed shelf:

[algernon2] 05/10/2020 20:34

I didn't know our interest had ceased in the 2 Gonorrhoea solutions either, bit of a shocker really. Still a holder here for the foreseeable future.

[chrisatrdg] 05/10/2020 15:31

Hi Folks - I have just checked my II account & the change of shares has now taken place & so far at no cost to me.I can now trade in SMMT just topped up 300 ADD's.

[chrisatrdg] 03/10/2020 14:27

Hi waterloo01 - Understand your stance for me I am going to wait to next April 2021 but I understand that Duggan is interested in the Discuva platform fingers crossed.Regards.

[waterloo01] 03/10/2020 13:30

I missed the gonorrhoea trial detail. Had high hopes for that. Have to say it's currently on my list of stocks to watch only.

[chrisatrdg] 03/10/2020 13:26

Hi someuwin - Thanks for the post I have just returned from holiday in Salcombe & saw it on the e-mail I opened this morning.Never seen an announcement that late before.

There was a strong indication in the results reported above of a further fund raise & it means they will have a clean audit report or should.

It will be interesting to see market reaction on Monday.

I understand that Duggan is fully supportive of Summit pity about the Gonorrhoea results & the stopping of the trials.

I am still holding & now waiting for my new shares following the recent changes as yet my change in shares has not been updated on my II account a few weeks more yet to go for that.

[chrisatrdg] 29/9/2020 12:47

Results Out YE 30th June 2020

Summit Therapeutics Inc.
(‘Summit’;, the ‘Company’; or the ‘Group’)
Summit Therapeutics Reports Financial Results and Operational Progress for the Second Quarter and Six Months Ended June 30, 2020
Cambridge, MA, September 29, 2020 - Summit Therapeutics Inc. (NASDAQ: SMMT) today reports its financial results and provides an update on its operational progress for the second quarter and six months ended June 30, 2020.
Ridinilazole for C. difficile Infection (‘CDI’)
Summit published data from its Phase 2 clinical trial of ridinilazole evaluating the effects of a narrow-spectrum (ridinilazole) or broad-spectrum antibiotic (vancomycin) on intestinal bile acid profiles. This was the first study to demonstrate in humans the relationships between Clostridioides difficile antibiotic treatment choice and bile acid metabolism both during therapy and after treatment cessation. The results indicated that ridinilazole maintained an intestinal bile acid profile associated with a lowered risk of recurrence. The data were published in the American Journal of Physiology – Gastrointestinal and Liver Physiology.
As of August 31, 2020, Summit had enrolled a total of 369 patients into its Phase 3 Ri-CoDIFy clinical trials of ridinilazole. Below is a table outlining the enrollment statistics by calendar quarter and for this past July and August since the opening of the trials in February 2019.
Quarter Number of patients enrolled Cumulative Patients Enrolled
Q1 2019 9 9
Q2 2019 21 30
Q3 2019 43 73
Q4 2019 78 151
Q1 2020 101 252
Q2 2020 73 325
July 2020 22 347
August 2020 22 369
Due to the uncertainties surrounding COVID-19, Summit is withdrawing public commentary on the timing of completion of the Phase 3 Ri-CoDIFy clinical trials. The Company plans to publicly update stakeholders quarterly as to enrollment status.
The Ri-CoDIFy clinical trials aim to support application for marketing approval of the precision antibiotic ridinilazole in the United States and other territories and the goal of it being used as a first-line treatment for CDI by:
testing for superiority over the current standard of care, vancomycin, in the primary endpoint of sustained clinical response at 30 days after treatment has ended;
generating health economic data to support ridinilazole's commercial launch, when as and if approved by regulatory authorities; and
undertaking microbiome and metabolome analysis that aims to show ridinilazole’s impact on the gut microbiome and bile acids composition
BARDA is supporting the Phase 3 clinical trials and regulatory development of ridinilazole with a financial award of potential funding of up to $72.5 million. As of June 30, 2020, an aggregate of $46.6 million had been received.
Discuva Platform
Enterobacteriaceae
DDS-04 compound series is a new class of precision antibiotics, with new mechanism of action, which is in lead optimization that acts via the novel bacterial target LolCDE with the potential to treat multidrug resistant infections caused by the Gram-negative bacteria Enterobacteriaceae.
Gonorrhoea
Based on results from recent preclinical studies, the DDS-01 series of antibiotics against Neisseria gonorrhoeae was determined not to have suitable qualities for further development as it had shown toxicity in animal studies and therefore, Summit is ceasing work on the gonorrhea program. The Company expects CARB-X will cover its remaining share of the work that has been funded under the award.
Corporate Highlights
Mr. Michael Donaldson was appointed as Chief Financial Officer in June 2020. Previously, Mr. Donaldson served as Vice President, Finance, and Corporate Controller for Goldfinch Bio, Inc. from 2018 to 2020 and Vice President, Finance, Corporate Controller and Assistant Treasurer at ARIAD Pharmaceuticals, Inc., which was acquired by Takeda, Inc. in 2017, from 2016 to 2017. Prior to that, he was the Corporate Controller for Hittite Microwave Corporation, which was acquired by Analog Devices in 2014. Mr. Donaldson spent the first 11 years of his career at PricewaterhouseCoopers
Dr. Jos Houbiers was promoted to Chief Medical Officer in July 2020. Dr Houbiers brings to Summit over 20 years of experience in pharmaceutical clinical development, where he’s implemented clinical development strategies, creative trial design and comprehensive medical safety monitoring across therapeutic areas, including functional urology, immunology and transplantation. He was most recently at Astellas, where he served in roles of increasing responsibility in clinical development from the Global Development hub, where he ended as Executive Medical Director and Group Head for the Medical Science Urology department. Dr. Houbiers received his MD from Leiden University Medical Center and PhD (immunology) and MSc in medicine from Leiden University.
Ms. Ujjwala Mahatme was appointed as a Director in July 2020.
Mr. Robert W. Duggan was appointed as Chief Executive Officer and Dr. Ventzislav Stefanov was appointed Executive Vice President and President of Discuva, the Company's discovery engine employing 14 people, in April 2020. Mr. Glyn Edwards stepped down as Chief Executive Officer in April 2020 and from the Board of Directors in June 2020.
Summit has redomiciled to the United States, effective September 18, 2020.
COVID-19
In light of the ongoing COVID-19 pandemic, Summit's employees continue to work remotely, enabling the majority of day to day business operations to continue. Summit's own laboratory facilities have begun to reopen to resume work on key projects; site access by staff is being monitored closely and is limited to ensure the safety of Summit researchers. There continues to be a negative impact on patient enrollment into the Ri-CoDIFy clinical trials. We are working to implement a number of initiatives and considering alternative courses of action to mitigate the impact of the COVID-19 pandemic on our clinical trials, although there can be no assurance that such actions will be successful.
Financial Highlights
Cash and cash equivalents at June 30, 2020, of $36.4 million compared to $63.8 million at December 31, 2019.
The Company's existing cash and cash equivalents and committed external funding are expected to be sufficient to enable the Company to fund its operating expenses and capital expenditure requirements through January 31, 2021. The Principal shareholder of the Company, Mr. Robert W. Duggan, has given his intention to the Board of Directors to participate in a future fundraise as required in order to support the Company with its clinical operations and planned research and development efforts.
Loss for the six months ended June 30, 2020, of $21.6 million compared to a loss of $13.7 million for the six months ended June 30, 2019.

[chrisatrdg] 29/9/2020 08:48

Summit Therapeutics +3.8% as Zanganeh reports 7.8% stake

[chrisatrdg] 24/9/2020 09:34

Hi All - We just all need to wait & we will be rewarded.

PS I have by some miracle this morning Sold my VAL shares £1k to £6 but only made a small return of £700 but I had previously written it off.I will let others go for the multi bagger of 2 to 3.Hey ho.

[euroto] 24/9/2020 07:39

Thanks to you both for sharing information.

[clarkey26] 23/9/2020 22:06

Umm,HL now saying awaiting completion of corporate action and will be exchanged for stock. Likewise can't trade at the moment. Certainly nothing as detailed as your response from II and nothing to suggest I need to do anything.

[chrisatrdg] 22/9/2020 20:11

Hi euroto - The reason for the 100% down is because the shares we have are no longer traded I am in the same position.

I strongly suggest that you speak to II tomorrow but I will also keep this board up to date.

I have requested a reason for the time frame detailed above & they are ringing me tomorrow.

I would also add that I tried Buying a few token shares in SMMT through II & was not allowed to I have also brought this matter up as well.

[euroto] 22/9/2020 17:32

I too am with II, but have received no communications on this matter , although I note that I am listed as being 100% down now on my SMMT investment. That is clearly not correct so I await events.( 50% down might be more accurate !!! ).

[chrisatrdg] 22/9/2020 12:58

Below is the message I got this morning from II did anyone else have a similar message

re: re: Conversion of Summit Shares into new Company
Reply Archive
12:53 today corporate actions, dividends and ipos
Dear Mr XXXXX,



Thank you for your secure message.



Effective from the 18th of September Summit
Therapeutics PLC is re-domiciling from the UK to the US and is listing on the
NASDAQ. As they're listing in the US the new shares aren't eligible for UK
settlement so they're being issued as paper statements, which will take around
14 days to be received from the effective date of the 18th of September. Once
we receive the paper statements we will need to deposit them with our
international custodian. This can take up to 6-8 weeks to complete due to the
involvement of third parties.



We trust that we have answered your
questions, however please do let us know if we can do anything else for you.
You can continue to write to us by secure message. Our response time is usually
within a few days, however, in times of high volume, we can take up to 5 days.
If your enquiry is more urgent, please call us on 0345 607
6001.



We are open between 7:45am and 5:30pm, Monday
to Friday, and 5:30pm to 9pm, Monday to Friday for international trading
calls.



Best regards,

[clarkey26] 18/9/2020 21:59

Hi Chris, Hargreaves Lansdown notified a few days ago that transfer automatic and charges will be deducted from cash in account. Transfer seems to have completed today.

[chrisatrdg] 18/9/2020 21:44

Hi All - I am with Interactive Investors & waiting to be able to exchange my shares into the new company for some £121. Has anyone been contacted by their investment provider yet ?

Edit: Until I phoned today II had not been notified by their 'provider' this is now being put in place I await their secure message.

[chrisatrdg] 05/9/2020 09:55

They are still working on this stuff:

[football] 03/9/2020 18:58

Are they still working on this stuff? Https://www.bbc.co.uk/news/newsbeat-54011133

[chrisatrdg] 25/8/2020 20:33

Seres Therapeutics@SeresTX·4h
#ICYMI Last week, Seres joined a podcast with the @cdiffFoundation.

Members of our team talked with CDF's executive director and founding president, Nancy Caralla, about the promising results of our company's SER-109 study. Click here to listen:



Fuller details below:



Edit: Where does this leave Summit & our investment in the company ???

PS: This was first brought to our attention by waterloo01

A good summary:

[algernon2] 20/8/2020 17:44

Thanks Chris and Hello Waterloo.

[chrisatrdg] 20/8/2020 12:20

All resolutions passed:

[waterloo01] 20/8/2020 06:59

are we there yet?

[chrisatrdg] 19/8/2020 21:18

Update this evening link below:

[algernon2] 19/8/2020 18:21

Chris, also heard nothing of this till just now reading the above comments; can you also email me please with the news and thoughts. Thank you.

P.S. I have had nothing re this " Court and General Meeting" today from the holders of my shares, should I/we not have been notified of this? I appear to have been effectively dis-enfranchised by my Nominee account holders.