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GlaxoSmithKline kick-starts first-of-its-kind late-stage antibiotic test
http://www.fiercebiotech.com/biotech/glaxosmithkline-kickstarts-first-its-kind-late-stage-antibiotic-test
Hi All,
There have been some interesting Buys in the last week & the NASDAQ is still ahead of AIM could this be the week we hear of new funding taking Summit beyond Jan 2020.Recent conferences have been of a high standard & I thought that Glyn was particularly chipper in the last interview as if a weight had been taken off his shoulders.
Summit Therapeutics CEO says anti microbial resistance will be as big a problem as climate change
http://www.proactiveinvestors.co.uk/companies/news/218703/summit-therapeutics-well-placed-in-the-race-to-find-next-generation-antibiotic-218703.html
Edit: Worth a read Summit starting to get greater cover just a matter of waiting.
£1.50
My point is that funding s'sorted' in that the big minority shareholder will not less this fold. The danger is that he takes it private. 32p plus a 50% premium would be a good buy for him-a lousy deal for us-given the medium term potential.
Can't make it any clearer!
What price do you need for break even? I think we should keep a close eye on the Nasdaq as that is where I believe the funding will come from. Notice tonight plenty of strength over there and high
Volume. If we get a rise over $2 or 32p equivalent shortly I reckon that will be an insight that funding is sorted. Happened last tome
sorry-finger slopped!
positive news flow about pipeline. I am sure that in any buyout the senior execs share options would be somehow after-but we would not be. We would get some @ above the current sp-unless big pharma upped the ante. We are talking up to £50m to get to the line-our current market cap is £38m. I hope that it all works out-but am pessimistic that we will get our money back.
Chris-should have been more explicit. The full back position must be that the big minority investor will not let this fold. Why should he having invited so much-with a continuous posit
Let me be clear-I consider that there is a reasonable potential for the major product to be a blockbuster. The issue is not their pipeline it is their CASH position. As Chris points out, they run out very soon-and even if they scale back they run out in a year. The danger is we run out of runway and are forced to accept a low price either from our existing large minority shareholder or a pharma. Why should they pay in pounds per share when the sp is in low pence territory? My hope is that we get a big chunk of non dilutive government funding. Any short term buy out without this will be bad news .
Forget stuff like is up in the US overnight and all the rest of that sort of noise-our minority share holder is not going to let this run out of cash-what will he want in return is the issue-it may not be great for long term shareholders.
That's all.
I think the next two paragraphs included in the recent accounts sums up the position well and they have business as usual but funding before end of January 2020 or concentrate on C-Diff & cut back else where takes them to 31st October 2020 hence they have taken on more staff.
'The Group is evaluating various options to finance its cash needs through a combination of some, or all, of the following: equity offerings, collaborations, strategic alliances, grants and clinical trial support from government entities, philanthropic, non-government and not-for-profit organisations and patient advocacy groups, debt financings, and marketing, distribution or licensing arrangements. Whilst the Group believes that funds would be available in this manner before the end of January 2020, there can be no assurance that the Group will be able to generate funds, on terms acceptable to the Group, on a timely basis or at all, which would impact the Group’s ability to continue as a going concern.
Management has identified specific mitigating actions which it would be required to take in the near future should the Group be unable to raise additional funding, including, amongst others, a slow-down of its ongoing Phase 3 clinical trials and suspending its Discuva Platform activities and associated research programmes. Should the Group be required to take these steps, it is currently expected that its current and anticipated cash and cash equivalents would be sufficient through to at least 31 October 2020. The failure of the Group to obtain sufficient funds on acceptable terms when needed would therefore have a material adverse effect on the Group’s business, results of operations and financial condition.'
Not surprised no movement on cash run way but you do not take on staff as announced today if you are not confident of being able to get some form of funding soon.I cannot see they can go much longer without making some form of announcement as from now they only have a few months left so they must come up with something by 31st December.
Based on what I was hearing considering how much Summit needs next year & yet we are so close to the 'cliff edge' clearly they are going for broke with their 'foot hot on the metal' in order to move the project.I can only conclude that they have a fall back position.
Glyn referred to shareholders & that its not done till its done maybe Summit may be going for a float requiring major shareholders to dip further into their pockets & accept heavy dilution & at a premium.
Any thoughts anyone?
NASDAQ listing of SEC Filings usually has more information than we currently have in this weeks RNS - HAPPY HUNTING.
http://old.nasdaq.com/symbol/smmt/sec-filings
Thoughts ?
Thanks Chris some incredibly exciting potential here. Surely this has to unique with the current mkp and potential of a blockbuster.. is it really just full finance keeping us with such a low mkp!? Even the potential based on the recent success should have sent this much much higher ??? Or am I missing something
The last thing we want right now is a buy out-what would we get-40p/50p ish. Maybe a tad more. If we are to hit the giddy heights of a few pounds we need to be much higher-that may come from great news flow on products and also crucially, finance.
Should be a mark up today
Hi Chris, Any link available to the presentation ?
I am currently listening to todays presentation in the US which has new slides & introductions to new staff.Summit is clearly on a roll.It is making for a very positive listen.Well done Summit,
Reckon this will get bought out
These is a great news rns every day here
The RNS Link doesn't seem to be currently working so try below link.
https://www.summitplc.com/app/uploads/2019/10/2019_RNS_36-ID-Week-Microbiome-Data-FINAL.pdf
GLA
Agreed with that fully it’s certainly about perspective and I don’t think the opportunity was for hardly anyone to buy below 20p, it was only there momentarily. Personally feel this will be a big success with all the achievements made and the major finance at 25p. Also the grants have been topping up but still a risk. If this does work out though we should be talking upside towards £5-£6 a share even with dilution.
It depends on your perspective. I go back along way-average around £1.50. This may well go to 40-50p. BUT-the money runs out soon. Do you really think that the big shareholder is going to let share the eventual proceeds of a blockbuster(s) drug(s). We need big news shortly to drive the price much higher-but what could this be?Of course those in at sub 20p will make a nice return-but I don't think that they will be in for a share of £1bn plus market cap.That's all.
After all the positive results and continual good news I can’t see there being any issues on finance !! Some of the recent news has been game changing. I know it’s still up in the air but have you read this article ?
https://seekingalpha.com/samw/article/4294632-summit-therapeutics-upcoming-r-and-d-day-tradeable-event?dr=1#alt1
Nice move again price building and strength gaining each session. Hope it reflects well Monday