http://www.summitplc.com/
Summit is an Oxford, UK based drug discovery company developing novel drug candidates to treat areas of high unmet medical need. Our strategy has evolved to focus on the development of two high-value clinical-stage programmes that target the fatal genetic disease Duchenne Muscular Dystrophy (DMD) and infections caused by the superbug C. difficile

Summit Announces First Patient Dosed in a Phase 1b Clinical Trial of SMT C1100

The Chancellor Masters and Scholars of the University of Oxford > 3%

Has anyone any news about Summit?

:-))

On the up again +11%.

Up another 9%.

Sarepta DMD trial results buoy Summit

By Jamie Nimmo

January 16 2014, 4:37pm
Sarepta and Summit are both working towards a treatment for DMD, a rare but fatal muscle-wasting disease



The latest trial results from America’s Sarepta Therapeutics bode well for AIM-listed Summit (LON:SUMM).

That’s because the pair are both working towards a treatment for Duchenne Muscular Dystrophy (DMD), a fatal muscle-wasting disease that affects boys.

Sarepta revealed at the JPMorgan Healthcare Conference in San Francisco that Eteplirsen trial patients showed continued stability when walking as part of the ongoing Phase IIb study.

Sufferers on the drug were able to walk further than the group of patients given the placebo, confirming the benefits of the drug.

Summit may look like a minnow alongside Sarepta and its $1 billion market capitalisation. But that’s only after a two-year surge that has seen Sarepta’s share price jump from 60 cents to $26.90 – it jumped another 35% today.

Summit, which rose 8% to 12.7p on the back of the news, treated its first patient suffering from DMD last month as part of a phase Ib clinical trial of its own treatment, SMT C1100.

Richard Pye, head of corporate development and communications at Summit, explained that Eteplirsen will only treat 13% of DMD boys since it is specific to a genetic form.

Summit’s treatment meanwhile would treat all sufferers.

Pye says that because of the difference in approach between the two companies, he sees Sarepta less as a rival and more as “complimentary”.

“There is progress being made and there is a better understanding from a clinical trial perspective as to what’s going on and what effect they are seeing in patients. That helps us when we get to do our clinical studies as well,” he said.

“Having an approach that enables us to target all the boys irrespective of the genetic mutation they’ve got puts us in a really strong position.”

Summit’s trial involves twelve boys aged between five and eleven years and is taking place at up to four NHS hospitals in the UK.

this stock has been on the rocks for some time, jam tomorrow? maybe one day

Why this sudden drop?

yesterdays news 323m new shares to be issued @6.5p

Oh. Not good news short time. Thanks Hal.

Summit funded to do 'comprehensive job' on two drug programmes

By Jeremy Naylor

February 12 2014, 2:39pm



Glyn Edwards, chief executive of Summit (LON:SUMM), tells Proactiveinvestors it is now 'really well funded' on two exciting drug programmes. He also reveals the group has attracted new shareholders from the US, a hotbed for biotech investment.



http://www.proactiveinvestors.co.uk/companies/stocktube/2537/summit-funded-to-do-comprehensive-job-on-two-drug-programmes--2537.html

RESULT OF OFFER FOR SUBSCRIPTION TO QUALIFYING SHAREHOLDERS

Oxford, UK, 26 February 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announced on 11 February 2014 it had conditionally raised £21.0 million (before expenses) through the placing of 323,076,924 new Ordinary shares at 6.5 pence per share. In addition, the Company provided Qualifying Shareholders with the opportunity to subscribe for new Ordinary shares on the same terms. This Offer for Subscription was not underwritten.

The Offer for Subscription has now closed and, in accordance with its terms, the Company has received valid acceptances in respect of 111,265,720 Ordinary Shares from Qualifying Shareholders. The Offer for Subscription was more than seven times over-subscribed. The directors of the company have undertaken a scaling back process. The Company has raised gross proceeds of £1.0 million from the Offer for Subscription making a total of £22.0 million ($36.0 million) from the Placing and Offer for Subscription.

Shareholder authority is required to allot the new Ordinary Shares and therefore the Placing and the Offer for Subscription are conditional on the passing of the resolutions that have been proposed at a General Meeting of shareholders to be held at 10:00am on 28 February 2014, at the officers of Fasken Martineau, 17 Hanover Square, London, W1S 1HU.

- END -

CHANGE OF BROKER

Oxford, UK, 4 March 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announces that Hybridan has resigned as broker to the Company. N+1 Singer has been appointed sole broker to the Company. Both these changes take place with immediate effect.

- END -

Summit primed for positive momentum - N+1 Singer

By Giles Gwinnett

March 11 2014, 1:08pm
Meanwhile, SMT 19969 for C.dif will begin a Phase II proof of concept clinical trial during the first half of 2014



Summit Corporation (LON:SUMM) is at an interesting stage with phase II patient clinical trials on the horizon, highlighted broker N+Singer on Tuesday.

And its recent £22mln fundraise provides the necessary funds to progress its two development programmes - for Duchenne Muscular Dystrophy (DMD) and C.difficile.

The firm's lead candidate is SMT C1100 for the treatment of DMD, is the most advanced utrophin modulator in Summit’s modulator portfolio, noted the broker.

It is currently in Phase Ib with top line results expected in the second quarter of 2014, said analyst Sheena Berry.

"Phase II is scheduled to begin in Q3. The group also aims to identify a next generation utrophin modulator this year for clinical progression."

Meanwhile, SMT 19969 for C.dif will begin a Phase II proof of concept clinical trial during the first half of 2014.

Berry notes that most of its fair valuation on the group is generated from the DMD opportunity, which is the programme which provides Summit with the greatest opportunity, reckons the broker.

"As the programmes progress through development and additional next generation modulators introduced, our intrinsic value of 11p per share will clearly increase," said the analyst.

With the additional funding the group is in a strong position to maintain its positive momentum and capitalise on game changing opportunities. In our view, Summit is a high quality business in a strong position to penetrate its target markets.

Shares are currently unchanged at 8.625p.

The offer for SUBSCRIPTION for share holders was 48.7M and the valid acceptances were 111.6M that is 2.2 times over oversubscribed, yet the company says 7 times ( below )

but ..............

Qualifying Shareholders will also be given an opportunity to participate in an Offer for Subscription of up to 15,384,616 new Ordinary Shares of Summit at 6.5 pence per new Ordinary Share to raise up to £1.0 million, in addition to the funds raised from the Placing.


The company did not say how many shares the shareholders are receiving on any RNS, and my broker could not explain either, I made a phone call to the company and are saying the Offer for Subscription was more than seven times over-subscribed so shareholders will get 8.50% of their shareholding - not for shares applying for -


The Offer for Subscription has now closed and, in accordance with its terms, the Company has received valid acceptances in respect of 111,265,720 Ordinary Shares from Qualifying Shareholders. The Offer for Subscription was more than seven times over-subscribed.

more to come I wonder, shareholders allways lose to large investors than most times will sell soon for a large profit.

Summit Receive FDA Clearance of IND Application for Phase 2 Study of SMT19969 to Treat CDI

SUMMIT ANNOUNCES FDA CLEARANCE OF IND APPLICATION FOR PHASE 2 STUDY OF SMT19969 TO TREAT C. DIFFICILE INFECTION

Initiation of the Phase 2 trial expected during H1 2014

£1.9m milestone payment from Wellcome Trust received

Oxford, UK, 18 March 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection ('CDI'), announces clearance by the US Food and Drug Administration ('FDA') of its Investigational New Drug application ('IND') to initiate a Phase 2 proof of concept study of the novel antibiotic SMT19969 for the treatment of CDI. The submission of this application has resulted in a £1.9m milestone payment to Summit by the Wellcome Trust, proceeds of which will support the study. This payment is part of a £4.0m Translational Award from the Wellcome Trust for the development of SMT19969.

"SMT19969 has demonstrated high selectivity for only clostridia in a Phase 1 study of healthy volunteers," commented Glyn Edwards, Chief Executive Officer of Summit. "If this profile is replicated in future studies, SMT19969 could potentially offer a differentiated and more beneficial option to current CDI treatments, which continue to undermine the natural balance of the gut flora and lead to recurrent disease. We are excited about initiating a Phase 2 proof of concept clinical trial with the continued support of the Wellcome Trust."

The Phase 2 study, named CoDIFy, will be a double blind, active controlled trial comparing the efficacy of SMT19969 to vancomycin (the current standard of care) in CDI patients through assessment of both initial cure rates and absence of recurrent CDI within 30 days of the end of treatment. The Phase 2 trial will recruit 100 patients with CDI and enrolment is expected to commence during H1 2014 at sites in the US and Canada.

SMT19969 is a novel, oral small molecule antibiotic that is being developed specifically for the treatment of CDI. Results from non-clinical efficacy studies show that SMT19969 combines potent bactericidal activity against C. difficile with exceptionally high levels of antibacterial selectivity. This targeted antibiotic has displayed efficacy in two key disease models while showing complete protection from recurrent disease. A Phase 1 trial conducted in healthy volunteers showed SMT19969 to be safe and well tolerated at all doses tested. In addition, a significant reduction in total clostridia but not in other bacterial groups was reported which demonstrated that SMT19969 was highly sparing of gut flora.

- END -

Some large volume for the last couple days as the share price is moving higher

up to 10.25p today, the volume has played a good part on the rise

Summit on BBC Breakfast 14 March 2014...

Some good early morning buys and the shares spiked, it has now settled