Summit Tumbles 80% On Phase 2 DMD Failure, But The Stock Is Still Worth A Look [Seeking Alpha]
Summit Therapeutics Inc. (SMMT)
Last summit therapeutics inc. earnings: 6/12 07:00 am
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US:NASDAQ Investor Relations:
summitplc.com/investors/investor-centre
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Source: Seeking Alpha
Summary Recently, Summit Therapeutics ( SMMT ) announced that it had failed its phase 2 Duchenne Muscular Dystrophy (DMD) trial. This caused the stock to close lower by 80% down to $2.55 per share. While the DMD study failed, it is important to note that it still has a pipeline full of other clinical candidates. That means I expect a bounce to occur, since the stock had fallen so much on the news. That's why I think it is worth a look as a buy. Phase 2 Data The phase 2 study is known as PhaseOut DMD, and it had recruited about 40 boys with DMD. It was noted that after the trial went on to completion, only 38 out of the 40 boys had finished treatment. Patients in the study were dosed with either Summit's drug Ezutromid twice a day at either 1,000 mg or 2,500 mg. The primary endpoint was to see if the drug could improve upon leg muscles for these patients. In other words, the primary endpoint was looking to see if there was a change in baseline in the magnetic resonance
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SMMT
News
- Summit Therapeutics to Host First Quarter 2024 Financial Results & Operational Progress Call on May 1, 2024Business Wire
- Summit Therapeutics Appoints Dr. Mostafa Ronaghi, Renowned Executive and Genomicist, to its Board of DirectorsBusiness Wire
- Summit Therapeutics to Present at the Stifel 2024 Targeted Oncology Forum [Yahoo! Finance]Yahoo! Finance
- Summit Therapeutics to Present at the Stifel 2024 Targeted Oncology ForumBusiness Wire
- Illumina CFO Goswami to depart, Summit Therapeutics' Dhingra named successor [Yahoo! Finance]Yahoo! Finance
SMMT
Sec Filings
- 4/25/24 - Form DEF
- 4/15/24 - Form 4
- 4/15/24 - Form 3
- SMMT's page on the SEC website