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Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter and Three Months Ended March 31, 2020
Summit Therapeutics plc(‘Summit’, the ‘Company’ or the ‘Group’) Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter
About this update from Summit Therapeutics Inc.
[{"type":"text","content":"Summit Therapeutics plc(‘Summit’, the ‘Company’ or the ‘Group’)\n Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter and Three Months Ended March 31, 2020 Oxford, UK, and Cambridge, MA, US, June 2, 2020 - Summit Therapeutics plc (NASDAQ: SMMT) today reports its financial results and provides an update on its operational conditions for the first quarter and three months ended March 31, 2020. Ridinilazole for C. difficile Infection (‘CDI’) As of May 31, 2020, the Company had enrolled a total of 291 patients into its Phase 3 Ri-CoDIFy clinical trials. Below is a table outlining the enrollment statistics by calendar quarter and for this past April and May since the opening of the trials in February 2019. QuarterNumber of patients enrolledCumulative Patients EnrolledQ1 201999 Q2 20192130 Q3 20194373 Q4 201978151 Q1 2020101252 April 202016 268 May 202023 291 Due to the uncertainties surrounding COVID-19, Summit Therapeutics is withdrawing public commentary on the timing of completion of the Phase 3 Ri-CoDIFy clinical trials. The Company will be updating stakeholders quarterly as to enrollment status.The Ri-CoDIFy clinical trials aim to support registration of the precision antibiotic ridinilazole in the US and other territories resulting in its intended adoption 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; andundertaking microbiome analysis that aims to show ridinilazole’s impact on the gut microbiome. BARDA is supporting the Phase 3 clinical and regulatory development of ridinilazole with a financial award of potential funding of up to $72.5 million. As of March 31, 2020, an aggregate of $42.4 million had been received. Discuva Platform Enterobacteriaceae DDS-04 compound series is a new class of precision antibiotics in lead optimisation that acts via the novel bacterial target LolCDE with the potential to treat infections caused by the Gram-negative bacteria, Enterobacteriaceae. Gonorrhoea DDS-01 compound series is a new class of precision antibiotics in lead optimization against Neisseria gonorrhoeae, and is sup...