Trade Summit Therapeutics Inc - SMMT CFD

Summit Therapeutics Inc. Company profile

About Summit Therapeutics Inc

Summit Therapeutics Inc. is a biopharmaceutical company. The Company is focused on discovering, developing, and commercializing novel antibiotics for serious infectious diseases. Its lead CDI product candidate is ridinilazole is an orally administered small molecule antibiotic. The Company's preclinical candidates include SMT-738, from the DDS-04 series for development in the fight against multidrug-resistant infections, specifically carbapenem-resistant Enterobacteriaceae (CRE) infections. The Company is conducting a Phase III clinical program focused on the infectious disease C. difficile infection (CDI). The Company is also seeking to expand its product candidate portfolio through the development of a new mechanism, precision antibiotics using its proprietary Discuva Platform.

Financial summary

BRIEF: For the nine months ended 30 September 2021, Summit Therapeutics Inc revenues increased from $675K to $1.6M. Net loss increased 57% to $61.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Research & Development - Balancing value increase of 49% to $59M (expense), Income recognized in respect of BARDA decrease of 48% to $4M (income).