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Summit Therapeutics Reports Financial Results and Operational Progress for the Third Quarter and Nine Months Ended September 30, 2020
Summit Therapeutics Inc.(‘Summit’, the ‘Company’ or the ‘Group’) Summit Therapeutics Reports Financial Results and Operational Progress for the Third Quarter
About this update from Summit Therapeutics Inc.
[{"type":"text","content":"Summit Therapeutics Inc.(‘Summit’, the ‘Company’ or the ‘Group’)\n Summit Therapeutics Reports Financial Results and Operational Progress for the Third Quarter and Nine Months Ended September 30, 2020 Cambridge, MA, November 16, 2020 - Summit Therapeutics Inc. (NASDAQ: SMMT) today reports its financial results and provides an update on its operational progress for the third quarter and nine months ended September 30, 2020. Ridinilazole for C. difficile Infection (‘CDI’) As of November 15, 2020, Summit had enrolled a total of 448 patients into its Phase 3 Ri-CoDIFy clinical trials of ridinilazole. Below is a table outlining the enrollment statistics by calendar quarter since the opening of the trials in February 2019. QuarterNumber of Patients EnrolledCumulative Patients EnrolledQ1 2019 9 9Q2 2019 21 30Q3 2019 43 73Q4 2019 78 151Q1 2020 101 252Q2 2020 73 325Q3 2020 64 389Q4 2020* 59* 448 *Q4 2020 includes quarter to date enrollment through November 15th Due to the uncertainties surrounding COVID-19, Summit has withdrawn public commentary on the timing of completion of the Phase 3 Ri-CoDIFy clinical trials.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 and for reduction of recurrence of 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; andundertaking 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 September 30, 2020, an aggregate of $47.0 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 ...