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HI EP Currently SMMT on the NASDAQ is $8.31 which at $1.37 to the £ equates to £1.21 old money.I sold earlier in January approx 75% of my holdings fearing a drop then bought back in 25% into an ISA .Currently I am in profit for the retained shares & those I bought back in.
It is a mystery why the gradual increase in SP which does not seem to stop & I guess that some people are 'gambling' on positive results for the year end results 31.12.2020.I also think that the fact that a 'multibillionaire' is funding the Company has given some investors comfort.
I am now finally sticking for this tax year & will think again post 5/04/21 with regards my Non ISA shares currently up over 50%.
It is all a gamble & I wish you well.
Assuming sentiment and the recent fund raise, which should in theory mean little risk of dilution.
The only risk now being poor results ... but this is matched obviously by the opportunity of success !
Fingers crossed
Loving this sp push .
My original 10,000 SUMM shares were transferred to 2,000 SMMT shares; so yes, I believe your understanding is correct.
Thanks Daz.
So say 5000 original UK shares ÷ 5 =1000 × $7 =$7000 .
So worth $7000 today? Bar exchange rates.
Have I that correct?
By 5!
Unsure what is taking this share price so high in recent months, no doubt due to belief in Robert Duggan and he's track record. I very happy to see this rise, as Ive been here for longer then originally planned. But would be nice to know why the take up? I dont believe phase 3 trials are expected for some time.
Wow nice push again for summit
Can't remember the ratio of US shares to 1 UK at the time .
Anyone know?
But great to see .
Exciting times indeed!
This has a recent $50M funding, so one would assume no further risk of dilution.
So what then is driving this up at such a rate? Are we expecting any news or just positive sentiment?
In any case, I am now back in profit for the first time since the fateful crash of Summer 2018 !!
Some great gains made in the last few months.
Still pushing up.... $10 anyone?
My reply from Summit this afternoon
It would appear all is ok but I have today Sold 3,900 shares at a small loss & now retain 1,400 shares.My Sales were on the basis that I could not risk loosing a substantial part of my investment.
I would add that after all these years (many) I have made a loss of £144 but now I will just sit back & watch.
Reply below:
Chris,
I hope you are well, and thank you for your note.
The filings with the SEC in January are mainly to finalize the process regarding the shares that were issued in November based on our capital raising efforts at that time. I’ve included the link to our press release that was issued to announce the closing of this funding here: hxxps://www.summittxinc.com/app/uploads/2020/11/2020_PR_22_Financing-closed.pdf
The filings in January register the shares that were issued to those who participated in the fundraising, and also covers some shares as a part of previous fundraisings in late 2019 and 2020 to complete the process. This is not a new fundraising effort beyond what we’ve previously disclosed.
Please let me know if you have any further questions, as I am happy to help.
Best,
Dave
Dave Gancarz
Vice President, Investor Relations & Corporate Strategy
A picture containing object, lamp, drawing, light Description automatically generated
January Fund Raise
I also note from the SEC schedules that Duggan is not buying in it is now up to the market to fund Summit primarily only Polar Capital are shown as buying in to date.
I note the market SP so far is not dropping like a stone fingers crossed !!!!!
Please note SEC filings this month - am I missing something or is this not a further fund raise unannounced ?????
https://www.nasdaq.com/market-activity/stocks/smmt/sec-filings
Edit: Just part of the SEC
'We believe that our existing cash and cash equivalents, as well as the remaining committed amounts receivable that we have been awarded under our contract with the Biomedical Advanced Research and Development Authority, or BARDA, for the development of ridinilazole, will be sufficient to enable us to fund our operating expenses and capital expenditure requirements until the fourth quarter of 2021. While these capital resources have allowed us to initiate our two Phase 3 clinical trials of ridinilazole, we do not expect to be able to complete these trials without additional capital. These circumstances led management to conclude that substantial doubt on our ability to continue as a going concern for a period of one year from the issuance of our consolidated financial statements exists. Our failure to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on our business, results of operations and financial condition.'
Edit: They clearly are looking for a 12 month cash runway when they issue their 12 month accounts to 31st December in order to have a clean Audit Report - just hope they succeed !!!!!!!!!
Answer from freedosh on ADFN
'The microbiome is critical to the immune system. Bacterial derived LPS will drive an inflammatory response and is best corrected by eliminating CDiff ( not an LPS producer but does cause an inflammatory response) and E Coli etc (makes Covid hyper inflammation worse) but needs to also be replaced by good clostridia, lactobacilli etc
So curates egg.'
Answer from waterloo01 on ADVFN
'Chrisatdrg, no. That's the whole point it's 'exquisite' in that it only kills C.diff. Note SRPT have run into trouble with their DMD treatments. Latest gene trial fail and they still haven't done proper follow up trial on the exon skipping, despite earning $$$$ from it. Only 10 boys were in the actual trial........'
Intestinal bacteria may affect severity of COVID-19, researchers find - see link below:
http://nypost.com/2021/01/12/intestinal-bacteria-may-affect-severity-of-covid-19-study/?utm_medium=SocialFlow&utm_campaign=SocialFlow&utm_source=NYPTwitter
Edit: For the remaining posters who understand the science does the above give an inroad for Summit ????
Hi EP Good to see your post & yes good to see the SP rise.I have had to Sell this year to pay off early a car loan & recently for teeth implants but as the SP continued I Sold a number of my other Biotech shares at a loss & bought back into Summit now I am back to half of my original holdings now hold 5,300 shares up 11.66%.
With regards the SP it has been a gradual rise which is good & I see that it has gained further momentum since the latest funding & demonstrates that the market can see Bob Duggan is prepared to dig deep.I also understand talking to Richard a month or so ago that Duggan is also supportive of Discuva.
Lets hope next year will be our year & season greetings to you all.
Yes indeed ,mighty run up to Christmas .
Happy holidays.
Exciting times !
Also, Seems some of the old cohort are on ADVFN, FYI.
Keep safe
- EP
Thanks for that, so my old 50,000 shares is now 10,000 as it stands with Nasdaq?
There has not been a consolidation since 2014 but the ADSs represent 5 old shares. For me, Halifax managed to convert my holding with them to ADSs 5/1 no bother but it was completely beyond HSBC to manage that and I am still trying to have that holding sorted out.
Good recovery so far.
There it is .......$5.
Well ,well, well great to see you on board Danawinner I am still with INFA.With regards Summit I was there during their troubled days July 2008 to June 2009 & during October 2008 to February 2009 I was 'Interim FC' keeping the seat warm for two CFO's as the first one left after a short period of time.This is not something I have mentioned before but feel that I can now reveal this.I have been invested with Summit since February 2010.
I had to Sell 50% of my holding earlier this year to pay off a car debt with VW a year early ( thought that was a good move but would have been better to have Held as I made a 50% loss not expecting the SP to rise but over 3 years I have broken even).In addition I had to Sell in November a further 1,500 shares for dental bills once again at a loss but a smaller loss.
I currently Hold 4,025 shares after a small top up of 25 shares into a new Stock ISA this week for the same reasons as you have indicated & yes I truly believe that Summit is back on the up & I will be Buying a further £500 worth this week following expecting receiving a draw down from my Standard Life Stock ISA this week (remainder of dental work next year so will gamble for now).
Would be good to stay in contact but I truly believe that Summit is again worth a punt.
I took a small 5,000 initial holding as this seems to be one of the few Pharma Cos that hasn't jumped.
I think that it is only a matter of tome.....
Dana
Nice to see it knocking on the $5 again.