Business
Summit Therapeutics Reports Financial Results for the Fourth Period and Eleven Months Ended December 31, 2019, and Operational Progress
Summit Therapeutics plc(‘Summit’, the ‘Company’ or the ‘Group’) Summit Therapeutics Reports Financial Results for the Fourth Period and Eleven Months Ended
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 for the Fourth Period and Eleven Months Ended December 31, 2019, and Operational Progress Oxford, UK, and Cambridge, MA, US, April 30, 2020 - Summit Therapeutics plc (NASDAQ: SMMT) today reports its financial results for the fourth period* and eleven months ended December 31, 2019, and provides an update on its operational progress. Program Highlights Ridinilazole for C. difficile Infection (‘CDI’)• As of March 31, 2020, the Company had enrolled a total of 252 patients into its Phase 3 Ri-CoDIFy clinical trials. Below is a table outlining the enrollment statistics by calendar quarter since the opening of the trials in February 2019. The Company expects to report quarterly enrollment updates going forward. QuarterNumber of patients enrolledQ1 20199 Q2 201921 Q3 201943 Q4 201978 Q1 2020101 Due to the uncertainties surrounding COVID-19, the Company is withdrawing the expected timing of completion for the clinical trials.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 help support ridinilazole's commercial launch, if approved; andundertaking deep microbiome analysis that aims to show ridinilazole’s preservation of the gut microbiome. BARDA increased the total value of its award in June 2019 and again in January 2020. The total award is now worth up to $72.5 million, with $62.4 million of that committed to date. As of December 31, 2019, an aggregate of £29.1 million ($38.6 million) of the total committed BARDA funding had been received. Discuva Platform Enterobacteriaceae DDS-04 compound series is a new class of antibiotics in lead optimization to treat infections caused by the Gram-negative bacteria, Enterobacteriaceae.Presented in vivo proof of concept data in pneumonia, sepsis and urinary tract infection at medical conferences in 2019. Gonorrhea Developing a new mechanism antibiotic for the treatment of gonorrhea with published preclinical data showing compounds from the se...