Summit Therapeutics Priced, Nasdaq: SMMT

Developing novel therapies for muscular dystrophy and bacterial infections.

Industry: Health Care

Latest Trade: $13.04 0.00 (0.0%)

First Day Return: +2.9%

Return from IPO: +31.7%

Industry: Health Care

We are a biopharmaceutical company focused on the discovery, development and commercialization of novel medicines for indications for which there are no existing or only inadequate therapies. We are conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy and the infectious disease Clostridium difficile infection. Our DMD program is based on utrophin modulation, an approach to treating DMD that is independent of the underlying mutations in the dystrophin gene that cause the disease. We are a leader in the field of utrophin modulation, an approach that we believe has the potential to address the entire population of DMD patients. Other DMD approaches, such as exon-skipping and suppression of nonsense mutations, only address subsets of this population. Our lead DMD product candidate is SMT C1100, an orally administered small molecule. We expect to report top line results from our second Phase 1b clinical trial of SMT C1100 in the third quarter of 2015. Our lead CDI product candidate is SMT19969, an orally administered small molecule antibiotic. SMT19969 is designed to selectively target Clostridium difficile bacteria without causing collateral damage to the gut flora and thereby reduce CDI recurrence rates, which is the key clinical issue in this disease. We expect to report top line results from our ongoing Phase 2 clinical trial of SMT19969 in the second half of 2015.
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IPO News for Summit Therapeutics
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IPO Data
IPO File Date 01/30/2015
Offer Price $9.90
Price Range $9.90 - $9.90
Offer Shares (mm) 3.5
Deal Size ($mm) $34
IPO Data
IPO Date 03/04/2015
Offer Price $9.90
Price Range $9.90 - $9.90
Offer Shares (mm) 3.5
Deal Size ($mm) $34
Underwriters
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Company Data
Headquarters Abingdon, United Kingdom
Founded 2003
Employees 23
Website www.summitplc.com