Summit Therapeutics Share Discussion Threads

[chrisatrdg] 13/9/2017 11:40

Here we go again - the traders are selling & the share price now starts to fall again hopefully this will reverse at least the science is not.Moan over.

[football] 12/9/2017 14:04

I guess we are waiting for the USA markets to open so we know what we are going to be doing

[waterloo01] 12/9/2017 07:55

Nasdaq closed at £2.43 (equivalent). More to come I hope!

[algernon2] 11/9/2017 21:32

" HHS spurs new antibiotic development for biodefense and common infections

To combat potentially deadly Clostridium difficile infections that can occur in patients being treated for bacterial infections including anthrax, tularemia and other biothreats, the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response (ASPR) is partnering with Summit Therapeutics on late-stage development of a new antibiotic............"

[chrisatrdg] 11/9/2017 18:42

I now fear looking at mine & now my wife's share accounts with 'Barclays' following recent posts but thanks for the insight.I did at least,in fear of what might happen,forward 'sell' a while back a few Summit shares in my wife's name.

[luminoso] 11/9/2017 18:40

I'm happy enough with Charles Stanley Direct, hugus, but there are charges for not dealing in any given month. If you don't trade much it can be costly. However can't fault their accessibility and customer service.

[hugus maximus] 11/9/2017 17:31

I've actually done a bed and ISA myself this year ... selling stock whilst the price was slipping, then buying into an ISA a couple of weeks later, rather than trust their competance. Barclays also no longer allow joint access to nominated accounts (i.e. a wife or elderly relative)

I think their arrogance is unbelievable and as someone suggested recently, it's not even as if their share price wobbled terribly when they had such dreadful press about this mess ... why should they care?

As you're intimating, and another friend just emailed me (thanks - A)with the same notion, it's a question of letting the dust settle and moving things in a wee while over to HL.

[waterloo01] 11/9/2017 16:59

Hugus, also very annoyed with Barclays. The biggest thing for me is transaction history. Not only can you now now click on a stock to see your history but and this is where they have really lost it, they only have 5 years worth of information online. I've owned this stock longer, but they don't keep full history! Doing a tax return will be a pain if not impossible

I've moved a couple of accounts already to Hargreaves Lansdowne (who I've also had accounts with for some years are are reliable) and will move the lot at some point. Trouble is they have so many customers leaving it's taking 6-9 weeks to do and while ongoing you have no access online.

They have badly messed up and will lose a great many long term HNW individuals.

Edit: I did a bed and isa on Summit a few weeks back and they made NO attempt to match the trade and the difference in spread cost me £300. Shocking

[hugus maximus] 11/9/2017 16:54

Please forgive this slight off piste for a mo.

I've finally come through and out the other side of the Barclays Stockbroker re-boot (aka "Barclays SmartInvestor"!)... after a couple of weeks of unbelievable agony, I wasn't actually allowed access to my account until Friday, and the new site works like some dreadfully designed platform for selling clothes for Marks & Spencers, involving all sorts of distractions.

Basic transactions that once took moments, now mean scrolling through pages of unwanted stuff and the simplicity of seeing your portfolio, then buying and selling accordingly is impossibly messy and longwinded. The thought of ever being in a rush to make a transaction fills me with horror.

The internet is full of complaints and yet Barclay's have no interest whatsoever. It seems they are not listening and after years of having our bank account and stockbroker account ... PLEASE does anyone have any recommendations?

[waterloo01] 11/9/2017 16:23

I think the Yanks need to get up to speed re RDZ. If they start both trials next year, should get readout and approvals 2019/20. Estimated to be worth close to $1bn a year in revenues by 2021/22

With this sort of funding it will make a partnership deal for the rest a great deal easier (understatement).

[luminoso] 11/9/2017 13:59

Great news but not all the funding for RDZ so a little of box 1 may still be needed ! Boxes 2 and 3 can go in the garbage. Brilliant work by the team.

[football] 11/9/2017 13:31

Summit Therapeutics soars after securing funding from US government agency
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13:02 11 Sep 2017
The award underlines the high regard for Summit's C. difficile infection treatment

Drug discovery and development company Summit Therapeutics PLC (LON:SUMM, NASDAQ:SMMT) has secured up to US$62mln of funding from the US government.

The Biomedical Advanced Research and Development Authority (BARDA), an agency of the US government's Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, awarded the contract to support the clinical and regulatory development of ridinilazole for the treatment of the C. difficile infection (CDI), including Summit's planned Phase 3 development programme.

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We've been awarded a grant from BARDA worth up to $62M to support development of ridinilazole in #cdiff …
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Ridinilazole is a highly selective, novel class antibiotic aimed at both treating the initial infection and reducing recurrent disease, which is the key clinical issue in the treatment of CDI, Summit said.

In a Phase 2 proof of concept clinical trial conducted in North America, ridinilazole was shown to be highly preserving of the microbiome of patients compared with the standard of care, vancomycin, and achieved a substantial reduction in rates of recurrent disease.

The Centers for Disease Control and Prevention highlighted C. difficile as one of three pathogens that pose an immediate public health threat. The economic impact of CDI is significant with one study estimating annual acute care costs at US$4.8bn in the USA alone.

BARDA will fund a specified portion of estimated costs for particular activities related to the continued clinical and regulatory development of ridinilazole for CDI.

Initially, it will stump up US$32mln to partly finance the journey towards regulatory approval, including enrolment and dosing programmes in two planned Phase 3 clinical trials of the drug.

In addition, Summit is eligible for additional funding under the contract pursuant to three independent option work segments, which may be exercised by BARDA in its sole discretion upon the achievement of certain development and other milestones for ridinilazole.

If the three option work segments are exercised in full, Summit would be eligible for an additional US$30mln from BARDA.

"CDI is a serious public health threat that is a significant burden on the US population, and BARDA has committed to the development of innovative treatments capable of addressing all aspects of this serious illness, including recurrent disease,” said Glyn Edwards, chief executive officer of Summit.

“BARDA's selection of ridinilazole for an award is testament to ridinilazole's promising clinical and preclinical data package that indicate its potential as a front-line treatment of CDI that could reduce recurrent disease," he added.

Summit announced at the end of last month that it was considering funding options for a CDI trial, raising the possibility of a dilutive share issue, but today’s announcement appears to have allayed those fears, though Summit said it continues to explore various funding options for completion of its Phase 3 clinical development programme, with these options including entering into a collaboration with a third party, equity financing or securing additional non-dilutive funding from government entities and philanthropic, non-government and not for profit organizations.

READ Summit Therapeutics DMD trial underway; mulls funding options for c. diff trial
"This non-dilutive funding award begins to deliver on our strategy of maximizing the value of ridinilazole for patients with CDI, Summit and our shareholders, and we look forward to initiating the Phase 3 clinical programme of ridinilazole," Edwards said.

The shares of Summit were up 20% at 246.67p in London trading.

[waterloo01] 11/9/2017 13:13

Well humble pie from me. Seems they didn't open box 1/2 or 3! Non-dilutive funding. Who would have thought they would pull it off (apart from Glyn of course)

For many Nasdaq investors this will confuse them as it hadn't really registered that they had another drug in late stage aka EZT

[chrisatrdg] 11/9/2017 13:03

I have 3,500 shares in my wife's name on forward sale at £2.90 in anticipation of a C-Diff RNS & as a long termer that is my minimum & part of my de-risk policy.

[hugus maximus] 11/9/2017 12:51

Many UK investors who've been here for some years will want to take profit ... but I should imagine the NASDAQ will have more continued enthusiasm. This is a great foundation for things to come in 2018.

[joeblogg2] 11/9/2017 12:43

Hopefully US open will give this more oomph as they see the potential unfold here!!

[poseidon2] 11/9/2017 12:33

Been in here for many, many years, oft tempted to sell, but it would seem that, at last, patience is paying off.
Well done to Glyn and the team.

[abergele] 11/9/2017 12:27

Still pleased with my topup though,moving up nicely now,
a good few days for me and patience here and at EME last week and now,,gla

[freedosh] 11/9/2017 12:25

Brilliant News. I always had faith in Ridinilazole, Glyn and the antibiotic team at Summit. Well done. It's a baby elephant (comment for Waterloo01, who understands elephants much better than me!)
There was an interesting speculative link to GSK the other day which I think we all missed. I will try to find it and post.

[maurillac] 11/9/2017 12:24

good news, that`s put a smile on my face given some of my other holdings atm !
m

[chrisatrdg] 11/9/2017 12:23

Good RNS & its still 'Summer' but it does not fund the full Phase 3 costs but it is a start.Would be interesting to see Summits cash flow now for the next 2 years & will be interesting to see UK & US response.

[football] 11/9/2017 12:22

Re-rate £3.30ish deal was well over 50% of the market cap?

[sweetnodude] 11/9/2017 12:21

Managed to pick some up at 220 just after the news :o)
GLA