17th Dec 2015 12:28
LONDON (Alliance News) - Summit Therapeutics PLC on Thursday reported a widened pretax loss for its third quarter, as it continued to drive its two development programmes forward.
It is currently focused on two development programmes, for SMT C1100 in Duchenne muscular dystrophy, and for SMT19969 in C.difficile infection, or CDI. The company recently announced positive clinical trial results for both programmes, which means it can move them to the next stage of development.
SMT C1100 is set to enter a phase II proof of concept trial, and the company expects to enrol the first patients to be dosed in this trial in early 2016.
Its CDI antibiotic, SMT19969, is currently in an on-going phase II clinical trial in the UK, with top-line results expected in the first half of 2016. Results from this trial are expected to help inform the design of planned phase III trials.
For the quarter to end-October, Summit reported a pretax loss of USD8.4 million, widened from a pretax loss of USD5.4 million a year before, as a result of higher administrative and research and development costs.
Shares in Summit Therapeutics were down 1.8% at 139.00 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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