SUMM.L Share News (SUMM)

(ShareCast News) - Shares in Summit Therapeutics surged after the company said that its phase 1B clinical trial of SMT C1100 for the treatment of Duchenne muscular dystrophy met its primary objective and will now move on to a Phase 2 trial.The drug discovery and development company said half of the patients who received the higher dose of SMT C1100 achieved the desired plasma levels while following specific dietary guidance.Initial analysis showed six of 12 patients achieved the desired plasma level after receiving a 2,500 mg dose of SMT C1100 twice daily for 14 days. In a prior Phase 1b trial, only two of 12 patients dosed with SMT C1100 achieved the desired plasma level.Summit said SMT C1100 was well tolerated at all doses tested with no serious adverse events reported.The company said it plans to start the Phase 2 open-label trial in the fourth quarter of this year to evaluate the longer-term benefits of the drug on muscle health, function and safety.Summit's chief executive officer, Glyn Edwards, said: "These data clear an important hurdle in the development of SMT C1100 by demonstrating it is a viable drug candidate to bring proof-of-concept for the Company's burgeoning utrophin modulator pipeline and more importantly, hope to all patients and their families living with this devastating disease."Our priority is advancing SMT C1100 efficiently through future patient clinical trials designed to evaluate the potential clinical benefit of this promising treatment, and this will start with an open-label Phase 2 trial that is expected to start by the end of this year."At 1247 BST, Summit shares were up 9.6% at 172.60p.