Summit Therapeutics reports Q1 EPS (3 pence) vs. (8 pence) last year
Reports Q1 revenue GBP0.2M vs. GBP3.9M last year. "As global leaders are sounding the alarm for new antibiotics, we are proud to be taking a leadership role in discovering and developing new classes of antibiotics with the potential to help combat the rising threat posed by antibiotic resistance," said CEO Glyn Edwards. "We believe these new class antibiotics have the potential to transform patient lives and that it is possible to show clear advantages over standard of care treatments and cost effectiveness during development. With this differentiated approach, we believe we will have the opportunity to be commercially successful. Ridinilazole is the exemplar of this strategy. It is a precision, microbiome preserving antibiotic that aims to sustain cures of C. difficile infection to improve outcomes for patients. We were excited to initiate our landmark Ri-CoDIFy Phase 3 clinical programme in February 2019. If successful, we believe our two Phase 3 clinical trials of ridinilazole will deliver clinical and economic data to support ridinilazole as the new standard of care for patients with C. difficile infection. Our Discuva Platform is enabling us to expand our leadership role as innovators in infectious disease. In April 2019, we announced the addition to our pipeline of another new class antibiotic programme targeting Enterobacteriaceae infections. With this new discovery-stage programme, our preclinical programme for N. gonorrhoeae and ridinilazole for C. difficile, our pipeline now targets the three most urgent bacterial threats as defined by the US Centers for Disease Control and Prevention with new classes of antibiotics."