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I do like slow and steady. On the other hand, if a blockbuster RNS appeared I would not complain!! 😂
Tell me about it, I had pound signs rolling around behind the eyes … Mortgage, check! Family holiday, check! Holiday home, check! … and then reality kicked in and back to the grindstone. C’est la vie !
Let’s see how things pan out today after a green finish yesterday.
- EP
LOL, E.P. in our dreams, eh!
To be fair … it took a lot of people by surprise particularly after the drop a few days earlier. Friday, prior to the halt, I think it was trading circa 9$ … so don’t be too hard on yourself! Hopefully the beginning of something epic. On another board, I was drawn to the attention of CASSAVA SCIENCES, which went from circa $2 to $100 in around 18 months. Not advocating that this will happen here, but made for fun daydreaming for 5 minutes!
GLA - EP
I kick myself for being too casual about the performance of this share, and gutted to have missed the opportunity to sell around 11 bucks! Not sure how I missed the dialogue here, around the month end, but only just spotted the rise on my actual share account. Even with the drop, I am still now in profit - the question is, are we on a roll? Off on hols to the US on Thursday so unlikely to be keeping this under close observation!! Actually I will be dialling in every night! GLA. This is long overdue a good result.
Mighty news.
Premarket looks good
Https://www.stocktitan.net/news/SMMT/summit-raises-200-million-also-expands-license-territories-for-zimcyqwkvoom.html
UPDATE - sorry for the monologue posting :)
- EP
Potentially bodes well for SMMT
Good luck today and in the coming days/weeks LTH’s
- EP
So I received a news release from Summit at 06.32 today (Saturday) - weird. More excitement anyway - this time about the Harmoni A trial, separate from the Harmoni-2 trial - I won't pretend to understand it in any kind of detail but the words 'Showed Clinically Meaningful and Statistically Significant Benefit' seem relevant :-). Monday morning /afternoon could be rather interesting.
Started: Chrisatrdg, 30 May 2024 20:44
Last post: English_Parisien, 1 Jun 2024 08:41
Interesting turn of events: trading halt pending news. But not before some very chunk in-the-know trades might have gone in at the last minute. Many assuming the halt is because of the content in the press conference Monday.
Wait and see.
Have a good weekend
- EP
Agreed 100% hold for me now.
A year will tell the story now
Always hard to argue against taking a profit, but...remember Keytruda has sales of $25 billion a year. We don't have rights to all markets but if we really do outperform it, and that's what we're saying, then that's a mighty big market to chip away at. I think there's good reason to hold for sometime yet.
Looks like some big profit taken back yesterday after market and premarket this morning.
Probably end up in 4 and 3 dollars again when settled.
Hi EP - Great post & sums the situation up very well .I was not aware that my son had finally got his shares on a site & would have advised him to sell at its peak last night as the SP has now receded more than I had expected.Ian will now still be at a loss thanks to me so he will need to wait.I am expecting a further increase in the SP as more news comes out.
As a rule of thumb having once been invested I would Sell, if in profit, to recover my initial investment & then Hold.
I check every day the SMMT activity so will keep people posted.
Regards
CM
PS I am currently showing Hold
Started: English_Parisien, 8 May 2024 08:23
Last post: Ollieh, 28 May 2024 20:13
Investors reacted negatively to the late-stage data for ivonescimab. However, there was some good news: China's National Medical Products Administration gave the drug its first regulatory approval on Friday as a second-line treatment for patients with epidermal growth factor receptor (EFGR) mutated, advanced or metastatic NSCLC.
Was there any silver lining in the safety data presented by Akeso? Perhaps: Summit noted that the most common serious adverse events were related to chemotherapy rather than ivonescimab.
Not looking like $7 now after last news.
Started: Ollieh, 1 May 2024 16:56
Last post: English_Parisien, 8 May 2024 08:20
And another yesterday!
Is this finally the company’s time to shine?
- EP
Started: Chrisatrdg, 20 Feb 2024 20:24
Last post: Chrisatrdg, 20 Feb 2024 20:31
The Annual Reports & Accounts Yr 31.12.23 now published but showing they do not have a 12 month cash runway hence a 28.5% reduction in the SP.All very depressing as they are totally reliant on Duggan digging deep but at 79 how many more years will he want to continue to invest.The following is the note re cash runway:
'Updated Cash Guidance
With the extension of the $100.0 million note, we updated our cash guidance such that we now have sufficient cash to operate into the first quarter of 2025. Our prior cash guidance was to have sufficient funds going into September 2024.'
It is difficult as to what to do but the SP has not been able to go above $5 my son is still invested but Holding.
Extract from Seeking Alpha
'Shares of Summit Therapeutics (NASDAQ:SMMT) plunged 28% in afternoon trading Tuesday after the company released its Q4 earnings report, filed a mixed shelf registration, and disclosed it had extended its cash runway.
Earlier Tuesday, Summit reported a narrowed Q4 adjusted loss of $0.04 per share with no revenue.
The company added that the maturity date for a $100M note from its chairman and CEO, Robert Duggan, had been extended from Sept. 6 to April 1, 2025, thereby extending its cash runway from September 2024 into Q1 2025.
Summit also filed a mixed shelf registration for the potential sale of up to $450M of its securities.'
Started: Ollieh, 17 Feb 2024 08:42
Last post: Ollieh, 17 Feb 2024 08:42
Great movement again and looking strong for 2024.
Good news on trials will see us back to 2018 share prices eventually.
Started: Chrisatrdg, 24 Jan 2024 16:56
Last post: Ollieh, 24 Jan 2024 20:40
Very impressive last month or 2.
Looks like USA liking the potential here.
Hi All I note the SMMT SP is continuing to rise currently at $4.40 £3.46.
Started: Ollieh, 8 Jan 2024 19:41
Last post: Chrisatrdg, 17 Jan 2024 11:01
Hi EP - Good to see your post this morning & the SP progress is good news.I sold out my remaining shares at $5 which meant over the years I did marginally more than just break even.However I encouraged my son to Buy many years ago & he is at a loss which is why I am still following events.I do believe that based on recent news Summit may actually become a block buster so better to hang on.Take care.Regards CM
Positive news :) the markets appear to be reacting positively to it. Slowly slowly, rather than a big spike.
Fingers crossed - GLA
and Happy New Year also!
- EP
Started: English_Parisien, 6 Dec 2023 08:29
Last post: English_Parisien, 6 Dec 2023 08:29
It would be nice to have a re-run of this time last year! Wishful thinking :D
Hope all are well
ATB - EP
Started: Ollieh, 20 Oct 2023 07:45
Last post: Ollieh, 7 Nov 2023 08:46
Started: Chrisatrdg, 31 Oct 2023 21:09
Last post: Chrisatrdg, 31 Oct 2023 21:09
Started: Ollieh, 17 Oct 2023 16:34
Last post: English_Parisien, 18 Oct 2023 10:10
Nice to see some faces still around.
And the CEO has made a large stock options purchase (circa 12M shares, currently worth $22M yesterday), which appears to have driven up confidence and SP!
Perhaps we are due our annual price run to $6?
The question being: if we make it that way, will that be the inflexion point or will it now go further with 12months of further progress achieved?
GLA - EP
Blimey. That seems a major development.
Started: Ollieh, 9 May 2023 14:24
Last post: Ollieh, 9 May 2023 14:24
Rst Patient Treated in Phase III HARMONi Clinical Trial
https://finance.yahoo.com/news/summit-therapeutics-announces-first-patient-113000584.html
Nice movement again.
Started: Ollieh, 3 May 2023 20:01
Last post: Ollieh, 3 May 2023 20:01
Summit Therapeutics Announces Initial Indications for Clinical Trials for Ivonescimab (SMT112)
https://finance.yahoo.com/news/summit-therapeutics-announces-initial-indications-123000854.html
On the road again
Started: Chrisatrdg, 23 Jan 2023 13:44
Last post: Ollieh, 27 Feb 2023 21:09
I should have sold a $5 ??
Will wait now for test data in China and uk.
Hi All - I recently Sold my shares in SMMT in order to Buy H&W shares but if I were to have held on I would be going for the rights issue in order to average down I cannot believe the SP will drop to the Buy in price.
Looks like a very hefty share dilution. What do people here think? Will the SP recover in the medium term?
SUMMIT THERAPEUTICS INC.
Subscription Rights to Purchase Up to 476,190,476 Shares of Common Stock at the Initial Price
http://portalvhds1fxb0jchzgjph.blob.core.windows.net/press-releases-attachments/1485882/Registration%20statement%20under%20Securities%20Act%20of%201933.pdf
Down premarket a lot.
Any mews?
Started: Ollieh, 27 Jan 2023 17:27
Last post: Ollieh, 27 Jan 2023 17:27
Seeing the return to lows for a while until news on trials in UK snd China come.
Waiting game again.
Started: Chrisatrdg, 20 Jan 2023 14:16
Last post: Chrisatrdg, 20 Jan 2023 14:16
Summit closes license deal for antibody therapy for cancer; $500M rights offering on track
Jan. 20, 2023 8:24 AM ETSummit Therapeutics Inc. (SMMT)By: Ravikash, SA News Editor
https://seekingalpha.com/news/3926304-summit-closes-license-deal-for-antibody-therapy-for-cancer-500m-rights-offering-on-track?mailingid=30308817&messageid=2900&serial=30308817.140&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=30308817.140
Last post: Chrisatrdg, 17 Jan 2023 14:32
Hi Jurado - I am with Interactive Investors & have said to them I want to take part & I am waiting notification so far they have not received the details but for me with a very small holding will be going for it & risk a drop in the SP.
Erm $500m rights offering? To pay for a upfront payment in a deal that could rise to $5bn? Gulp...
Started: Chrisatrdg, 9 Jan 2023 22:05
Last post: English_Parisien, 10 Jan 2023 16:04
Fingers crossed!
Now back on the rise after a swift tumble the last couple of days.
GLA - EP
Link to their Webb page.
https://www.smmttx.com
PS There could be something in Summit once again.
Hi Folks,
Below is the link to Summits latest update see also todays documents on the Nasdaq platform for SMMT.
http://portalvhds1fxb0jchzgjph.blob.core.windows.net/press-releases-attachments/1481933/Current%20report.pdf
Started: Ollieh, 3 Jan 2023 21:07
Last post: English_Parisien, 6 Jan 2023 15:13
I’ve never really played around with “orders” before via the broker.
Food for thought.
I was in the black for all of 10 mins this week before it dropped back. Let’s see how the market reacts to impending news.
GLA - EP
Hi EP - The rights issue is based on holding on a certain date possible 6th Jan but if shares Sold I cannot see how your platform can allocate shares to you but could be wrong.
When the 'Old Summit' was on AIM & before the crash I Sold forward at an ambitious rate & too my amazement the SP did peak for a short while & bang Sold.I decided what would I realistically Sell for as Sell forward avoids the holding over the Sell button.Currently Summit is going up & down like a yo yo so it is difficult to know when to press the button.
Good luck & once again getting to break even may not happen again I know when I got there I Sold & did not regret it.
Question for those who might know better than I:
With the rights offering that will likely be approved, will this come with an eligibility clause for those holding stock before a particular date?
What I mean to say is, were I to sell today and buy back in say in 2 weeks, could this preclude me from eligibility for the rights offering?
Or is it determined on a case-by-case basis, dependent on the offering in question?
Cheers
- EP
I shall be watching the market closely today, finger hovering over the sell button … whether or not I will do it or not remains to be seen.
I don’t know whether tomorrow’s vote is going to have a detrimental effect on the short-term SP or not, and whether there is a chance to sell at break even and buy back in cheaper.
And perhaps also to ISA them.
Summit is presenting next week at one of the large annual conferences but cannot imagine that this will change much in terms of SP.
Trial results won’t be known for a while … but of course in the meantime, other news could be released about CDiff, the platform progress or other external deals that could push the SP north
Hope you’re all safe and well and having a good start to 2023.
GLA - EP
I must admit that I hadn’t understood that like that (Duggan fronting the cost).
Good start to the NY in any case.
Another board has some positive thinking along the lines of a breakaway toward $7.
Let’s wait and see.
GLA - EP
Started: English_Parisien, 29 Dec 2022 16:23
Last post: Chrisatrdg, 31 Dec 2022 12:11
Hi Ollieh - A pragmatic approach. Regards Chris PS I think my son may well think the same.
I need another 5 bucks to break even on 10k in.
But you know what...I'm waiting it out .
Wasn't worth anything a few months ago.
Looks like some profit taking before new year.
Ok here is my 2 cents.
The market knows well the dilution coming but still the sp went up.
Also we have two springboard points to come.
1st is China 3rd phase trial news to come when finished.
2nd will be our own 1st phase trial news when finished.
A while to go but think of it...if our 1st phase fda data matches China 1st phase trial data ( already published ) then the market in the west will be convinced that China data is trustworthy.
This should give the fda process a headwind as regards investor confidence.
The issue is how much dilution can this news balance out?
Don't know the numbers yet.
I was offline for the last hour. Hopefully it will peak back up after the early burst upwards
Thanks for the insight and good luck to your soon
- EP
Hi EP - Yes it is a dilemma & it was at this point last year that I sold when just in profit & I am glad I did.The issue is the 'rights' issue & at the current SP they are a bargain but unlikely the SP will then hold.I have a very small holding & currently 191.99% up value £485.19 & I am thinking of taking up the rights issue.My son's shares are currently valued at £2k & current loss £2k so needs a further 100% to break even.
I was in the same dilemma as you & as I said Sold I will suggest to my son to take up the rights issue as a opportunity to get nearer to break even & then Sell.
As I see it the SP is being driven because of the lure of the rights issue all details are per recent RNS's.
I am not sure this helps but is my current thinking.
My final point is that we have all seen Summit going up & down & not long ago it was below a $ on balance I would Sell in your position for me my investment is so small it is worth the risk of Holding.
Started: Ollieh, 12 Dec 2022 16:49
Last post: English_Parisien, 19 Dec 2022 20:57
It hit $5.40 ?!
This is one balmy ride!!
What will the rest of the week bring ?!
GLA - EP
But straight back up again!
Let’s see how they want to take it forward today
GLA - EP
-28% today.
Rise couldn't last as time to start fda trial is q2 23.
Could see more downward movement until mid 23
Let's see if it drops much more.