The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Agreed with the concern.
Summit as a whole including Discuva - a long shot.
My concern is the hold up on rolling out the recruitment & the requirement for funds this year.
Sell off the CDiff work?
Or Summit as a whole, including the Discuva?
All well here thank you
- EP
Looks like the market currently likes today's RNS NASDAQ currently up 1.7% rather than what has been a gradual SP reduction since last weeks 1st Qtr's results.
Edit: Thinking about EP's post it could be that Bob Duggan could be looking to Sell on positive phase 3 results for C-Diff next year.
Hi EP - I do not think that Bob Duggan is looking to be taken over it is something he does but not something that is done to him.The appointment is to add credibility to SMMT on the NASDAQ for the next fund raise which I expect by the end of Qtr 3.
It is disappointing about the C-Diff drug trials but having sold 50% of my shares at a 50% loss I am now going for broke & waiting to next year.
I hope all is ok with you in Paris.Regards.
The new FCO has overseen previous takeovers
Are we next?
Discuss.
- EP
Keeping well thanks.
After the 80% drop nearly 2 years ago ... I quietly walked away from AIM for a while to think about what I should perhaps have done differently over the years (not just here, but for my whole portfolio) ... then with the delisting, I transferred everything to NASDAQ and patiently away $6 to get back in the black (assuming it's still a 1:5 + £:$ exchange rate, calculation), at which point I will see what's going on ..
I have been having a look at ADFVN here and there and saw that someone had had the smart idea of investing whilst the SMMT shares were cheap in the UK prior to the US price explosion ... clever!
I hope it will find its way and the CDiff and Discuva be of use to people.
I was bitterly disappointed with the DMD stuff having followed it for so long and seen what the kids go through. Especially also after the optimism from the famous 24 week results
And of course Glyn is NED now ...
Fingers crossed! Otherwise all in Paris remain 'fun' with the confinement; although it's a little better than the UK have it currently
Good to hear from you
- EP
Hi EP - Good to see your post - I posted the item below yesterday on ADVFN which may also be behind the SP surge.
'Summit on the move again on the NASDAQ possible assisted by the following article:
https://old.nasdaq.com/article/summit-therapeutics-plc-smmt-stock-moves-043-what-you-should-know-cm1332432'
Edit: I hope you are well for me I sold 50% of my stock in April at a 50% loss in order to pay off my car loan on my new Golf clearly should have waited but will now hold my remaining shares 5,200 ADD's until next year now going for broke.Regards. PS Hoping my INFA shares will start to rebound soon.
I did wonder myself.
This got released yesterday: https://newsfilter.io/a/43d525d90d3c0c82b543ef9af3f7a7a6
Appears to be:
"An S-8 filing is an SEC filing required for companies wishing to issue equity to their employees. The S-8 form outlines the details of an internal issuing of stock or options to employees similar to filing a prospectus".
So perhaps news on the horizon for which SMMT wishes to have its staff benefit from?
Who knows?
- EP
Up 16%.
?
Positive report yesterday seems now being reflected in Summits resurge on the NASDAQ today:
Summit Therapeutics PLC (SMMT) Gains As Market Dips: What You Should Know
May 06, 2020, 05:45:16 PM EDT By Zacks.com
'In the latest trading session, Summit Therapeutics PLC (SMMT) closed at $3.11, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.92%, and the tech-heavy Nasdaq gained 0.51%.
Investors will be hoping for strength from SMMT as it approaches its nex t earnings release. On that day, SMMT is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 60%. Our most recent consensus estimate is calling for quarterly revenue of $2.84 million, up 787.5% from the year-ago period.
Any recent changes to analyst estimates for SMMT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.26% higher. SMMT is currently a Zacks Rank #1 (Strong Buy).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.'
To follow SMMT in the coming trading sessions, be sure to utilize Zacks.com.'
https://old.nasdaq.com/article/summit-therapeutics-plc-smmt-gains-as-market-dips-what-you-should-know-cm1325373
Hi manversushorse - I was in the same situation as you all you need to do is complete a crest form transferring the shares from Link to ii at which point you then need to move onto the NASDAQ but you have missed the boat when all our shares were moved over at the same time at no cost.
I suggest that once you have the shares with ii ask them how to move to the NASDAQ for which they have the experience also you may wish to seek assistance from the Investor relations representative at Summit.
Good luck any problems post another message.
Has anyone else had issues transferring their shares? I had to close my account with Barclays as they don't deal with Nasdaq, so I've now got a physical certificate (ordinary shares) issued by Link Asset Services. I've opened an account with II, but they claim Link need to initiate the transfer to my account. Link on the other hand insist that I need to initiate the transfer with II, and neither side will budge. If anyone has any ideas, that would be much appreciated!
Market seems to appreciate Robert W. Duggan taking over from Glyn Edwards as CEO.
A proven winner at last taking over from a proven failure who took the share down from 200+ p to below 20p.
Summit up 28% today to US $4.20
https://www.nasdaq.com/market-activity/stocks/smmt
Summit Appoints Robert W. Duggan as Chief Executive Officer https://t.co/Z0G1IViCmE
"Oxford, UK, and Cambridge, MA, US, 14 April 2020 – Summit Therapeutics plc (NASDAQ: SMMT) today announces that Mr Robert (Bob) Duggan has been appointed Chief Executive Officer (‘CEO’) of Summit Therapeutics, effective immediately. Mr Duggan will retain his role as Chairman of the Board. Mr Duggan will serve as CEO without compensation as he is Summit’s leading shareholder.
Mr Glyn Edwards has tendered his resignation, which will be effective immediately."
Good progress up 23% today to US $3.28
1 month rise 42%
3 month rise 85%
Seeking Alpha today :Summit Therapeutics (NASDAQ:SMMT) resumed with Buy rating and $4 (46% upside) price target at H.C. Wainwright.
SMMT on NASDAC today $2.67 for ADR (5 shares).
At current rate 1.15/1 $/£ this equates to 46p per share
New price target $ 4.00 is £3.48 or 70p per share
Trust my maths are correct. There has been a big rise in last few days
Good luck to all - this has been a good ride, and a useful site, but I've made the decision to close out. May turn out to be the wrong one - who knows - but have some concern around the disruption to ongoing clinical studies... Hoping I'm wrong on this..
As everything seems to be related to the coronavirus these days, maybe the stable SP here is in part due to the realisation/understanding of what a world could look like without drugs to treat infections (viral or bacterial), and how much we need to keep developing new antivirals/vaccines and antimicrobials?
Hi All,
Looks like this page is being retained which would be good & to also add great result on the NASDAQ yesterday close of $1.60 = £0.25p.Hopefully this will continue.
Final results must be soon.
Thanks for all your posts. I have read every one.
Good luck
Glyn
Good luck on the Nasdaq !!!
Read the rns:
Takeover code waiver
"The Fundraising is not being underwritten and is conditional (amongst
other things) upon the passing by the Company's shareholders
("Shareholders") of a resolution to approve a waiver (the "Rule 9
Waiver"), which has been granted by the Takeover Panel, of certain
obligations that would otherwise arise on Mr Duggan in connection with
the Subscription pursuant to rule 9 of the City Code on Takeovers and
Mergers (the "City Code"). "
Substantial holdings - Placing. Warrants at 10% above placing price of 21p.
"Robert W. Duggan is a substantial Shareholder and Glyn Edwards is a
director of the Company. Both Mr Duggan and Mr Edwards are therefore
related parties pursuant to the AIM Rules. Mr Duggan's participation in
the Subscription and Mr Edwards' participation in the Placing, by way of
subscription for 452,475 Placing Shares and receipt of 67,870 Investor
Warrants, are deemed to be related party transactions (the "Related
Party Transactions"). "
Takeover waiver no longer applies from 24th Feb
" The Takeover Panel has confirmed that the Company will remain subject to
the Code until such time as both (1) the proposed Board Restructuring
has occurred, resulting in the Company's place of central management and
control no longer being in the United Kingdom, Channel Islands and Isle
of Man and (2) the Company's shares are no longer admitted to trading on
AIM. Subject inter alia to the Cancellation Resolution being approved,
it is expected that the Company will no longer be subject to the Code
from 24 February 2020. "
" For so long as both the Company's place of central management and
control is outside the United Kingdom, Channel Islands and Isle of Man
and the Company's shares are not traded on a regulated market or
multilateral trading facility in the UK, the Code will not apply to the
Company. Therefore in those circumstances Shareholders would not receive
the protections afforded by the Code in the event there is a subsequent
offer to acquire their shares in the Company."
The placing provides funding for 10months.
"The Company's existing cash and funding arrangements will be sufficient
to fund the Company's operating expenses, including the ongoing Phase 3
clinical trial of ridinilazole for the treatment of C. difficile
infection, and capital expenditure requirements through to 31 January
2020. If approved and completed, the Company expects that the
Fundraising will extend this runway by approximately 12 months to 31
January 2021. "
https://www.summitplc.com/app/uploads/2019/12/2019-RNS_42-Proposed-Fundraising-and-Notice-of-GM_FINAL.pdf
I have stayed with SUMM via HL SIP. While a little concerned about the liquidity of the ADD I like the science behind this company. The world needs new antibiotics and if SUMM delivers that drug it could sell for decades.
Tweet today re BARDA investment - all good exposure:
$SUMM Summit Therapeutics pleased with new BARDA partnership investment http://tinyurl.com/rtsxku8 via @proactive_UK@Summitplc #SUMM
https://twitter.com/home