Summit Therapeutics Reports Financial Results for the Fourth Quarter and Fiscal Year Ended 31 January 2018 and Operational Progress

Summit Therapeutics (NASDAQ:SMMT) (AIM:SUMM) reports its financial results for the fourth quarter and fiscal year ended 31 January 2018 and provides an update on operational progress.

As quoted in the press release:

Mr Glyn Edwards, Chief Executive Officer of Summit, commented: “This was a landmark year for Summit’s Duchenne muscular dystrophy programme where we saw a statistically significant reduction in muscle damage and inflammation in patients after just 24-weeks of ezutromid treatment. This provides evidence that ezutromid is reducing the severity of the disease for these patients.

“Strongly encouraged by these findings, we are accelerating preparatory activities for a placebo controlled trial of ezutromid and also preparing for a potential regulatory filing of ezutromid based on top-line data from the full 48-week results, which are expected in the third quarter of 2018.

“Our infectious disease business has also made major strides over the past year. With funding support from BARDA, we are preparing to initiate our Phase 3 trials for ridinilazole, a precision antibiotic for the treatment of C. difficile infections. Based on the discovery and development platform we acquired in 2017, we are also building a pipeline of new mechanism antibiotics as we position ourselves as leaders in the field of antibacterials.

Click here to read the full press release.