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Anyone have the slightest clue what the sp could do if the CDI phase 3 trials are successful?
Confess I never got my head around the total u-turn on the DMD trials but that seems a long long time ago now!!
Gutted to see that I missed that spike in Feb! The trouble is I put these in the bottom drawer and rarely check in unless I spot a post on here!! I hope that was not my only oportunity to bale out this year with at least a small profit (currently down 40%)
Nice to see some of the old names still hanging in there - I always had such high hopes for prospects here........
I note from todays SEC filing that Polar Capital have increased their holding from 5,000,000 (reported 30/09/20) to 5,800,000 (reported 16/02/21)
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14708317&RcvdDate=2/16/2021&CoName=SUMMIT%20THERAPEUTICS%20INC.&FormType=SC%2013G&View=html
Edit: Shows Polar Capital still showing interest in Summit & may explain todays SP increase.
Good to see it recover again.
Looking good for this year.
Fair enough! Thanks for that update :)
So no later than Mid-March
- EP
Hi EP - I had my e-mail reply yesterday from Summit in the US & the update on trials will be part of the Annual Report & Accounts 31.12.20 to be published within 75 days of the year end - see extract below.
'As we have disclosed in our previous quarterly Earnings Releases (via both Form 8-K on the US SEC website (www.sec.gov) and a Press Release), we update stakeholders as to the status of our trials on a quarterly-basis, including enrollment progress or other indications with respect to our progression. Our annual report on Form 10-K and associated Earnings Releases via Form 8-K are filed within 75 days of our fiscal year end (December 31, 2020), and we expect they will be made available in that timeframe.'
Good to hear from you as always.
I have maintained my initial position all the way. Just need to keep an eye on these large swings and decide whether I hold for "double (read: several multiples) or nothing". Realistically, I will derisk at an appropriate moment and let the rest play out, come what may.
Would just like to understand where the positive sentiment has come from and what we can expect between now and official results read-out in Q3 2022. I wonder whether they will be obliged to release a mid-way report also like they did for DMD (24w vs 48w).
Bonne journée !
- EP
Looks like we have some profit takers today so far and who could blame them.
Looks to be coming back now but may as well hold until phase 3 data out.
Waited this long.
On my ii account at the moment the Bid is $11.19 & the Ask $8.96 all very scary.
Hi EP - I de-risked in January leaving 1,400 shares in my non-ISA account & over the last 3-4 years have Sold some 75% of my shares & over that time achieved 'Break Even'.My 1,400 shares are now worth £11,374 (up 122.30%) & cannot Sell because of CGT limits.
I realised my error in January & bought back in a few days after 1,445 shares now worth £11,739 (up 78.93%) in less than a month but are in a Stock ISA.
I can understand your dilemma EP as I have been in the same position on two occasions & did not Sell at great cost to me.
The sensible thing to do for me is to Sell today my ISA shares & pocket the money but who would have thought the shares would have gone up 24.89% yesterday & will this be repeated today.
I remember talking to the Chief Scientific officer at a Summit AGM 2 years ago & he said that if Summit are successful with C-Diff the SP increase would be significant I guess double or treble & likely more if Summit go to market is my thinking now.
I have e-mailed Summit this week on the issue of the trials & I am awaiting an answer but if the current SP is a blip down it will go back to where we started.
I will await the opening bell with finger at the ready & based on my previous experiences should Sell (Third time lucky).
Regards to all.
I hear you.
Got to ask yourself what's positive phase 3 going to do to sp here.
Not sure if it's anything to do with gamestop like action.
Let's see where we go from here.
I am nearly at that fateful inflexion point I find myself at in June 2018 when this all when wrong ... what to do, what to do?!
Reading online, Phase III results aren’t expected before Sept ‘21.
So what then is driving this??
Aforementioned GameStop effect?
People catching onto the Duggan (read: Midas) touch?
I am keen to avoid itchy finger and derisk when this just might be getting to the “interesting” part ... but have also seen this too many times before ...
GLA
- EP
There is a growing following on Stocktwits with c 1600 followers. Some of them are classing this with Gamestop and AMC..... Been here for years but getting ready to jump. https://stocktwits.com/symbol/SMMT
Something driving it to these gains last few months and especially last few weeks.
Market must like the look of its future and think phase 3 is in the bag after such positive phase 2 data.
Phase 3 initial data could be in June and that's not long away now.
Market loading up maybe.
+31%, 2x average volume traded
Summit is being noticed, it seems.
This share is both exhilarating and worrying, wish I knew the facts behind the rise. I here till at least the phase 3 results are published . So I guess I’ll continue to mutter “what?” Again today.
Well I do not understand it there is further increases in the SP today where is this going to end currently 13.05% increase today on top of last weeks increases now showing $10.1294.
What price are we looking at if fda give approval ?
$15 +
Re: Mention of Reddit.
I don't think SMMT is a share that has a lot of short positions, so it probably wouldn't interest the anti-Wall Street people:
https://docoh.com/company/1599298/SMMT/short-interest
So looks like all done within 2021.
"Estimated Study Completion Date ICMJE September 2021
Estimated Primary Completion Date June 2021 (Final data collection date for primary outcome measure)"
So first news in June this year then ....not long at all.
I have just been looking at the trials website which was updated 28th January 2021 see link below:
Click on changes & you will see that they have changed the dates of completion for trials but they are still in 2021.I think that this complete update suggests momentum has again been created which is why we are seeing the SP improvement unless its the Reddit group.
https://clinicaltrials.gov/ct2/show/NCT03595566
Edit: To be fair I now only own 2,845 shares after having had to Sell for various reasons all of which in retrospect were unfounded & I lost my nerve last month & sold more of my remaining shares & then bought back in a few weeks ago.I am now currently well into profit 48.56% up.
I dough very much that the Reddit group has anything to do with this rise.
Something is up but what is it?
Just conference in the future business maybe.
But keep going please.
RevoltingPeasant I hope you are wrong but something is driving the SP up (see my post below) but some time before US 12.50.
Delighted to see the continued rise but am a bit concerned that the Reddit/wallstreetbets crowd have apparently turned their attention to small pharma. Does anyone have a view on this? I need US D12.50 before I break even!