Contrary to many views as to todays RNS I have just topped up in a modest way Buying 100,000 at £0.1414 cost £141.40 possible some of the Sells are actually Buys based on my recent Buy.Biotech is a ***** but I am hoping that this share will finally come good.
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?
I am sorry fella's but in know way would the EU hold back funds for political reasons.As someone who has dealt with EU organisations on a match funding basis we will receive any due funds when due process has taken place.I will also have to say that we will not be leaving on the 31st October there will be an extension my sources in Brussels tell me they have been thinking of making it 12 months.Finally in my opinion we will never be leaving the EU - sorry to disappoint !!!!!!
With regards the future for INFA the future is good.
The following sentiment could be one of the reasons in the sudden SP increase for which I note further interest on the NASDAQ this evening;
Summit Therapeutics' Upcoming R&D Day Could Be A Tradeable Event:
InfraStrata posts solid gains as it advances Islandmagee project:
stew200 - Summ is currently 14.38 % up at $1.75 = £0.29p which is the highest rise this year.I also note that we have not had the interim results out yet for the 6 months ended 31st July 2019 which are normally out by now - is there something brewing ?
I was disappointed not to see at least an update RNS this morning but I am hoping for one this week.To issue an RNS in the last week of September with September completion dates & no update in or near September is not good enough so hopefully we will get one soon .At the weekend I forward sold 300,000 shares at 0.09p as I need some funds hope to reach that point in the next month or so.
Summit Therapeutics to Host R&D Day 7 October 2019
Summit Therapeutics plc
(‘Summit’ or the ‘Company’)
Summit Therapeutics to Participate in Upcoming Investor Conferences
Oxford, UK, and Cambridge, MA, US, 4 September 2019 – Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), a leader in new mechanism antibiotic innovation, announces that management will participate in several upcoming investor conferences taking place in New York City.
9 September 2019 – Janney Healthcare Conference
10 September 2019 – H.C. Wainwright 21st Annual Global Investment Conference, presentation at 12:05pm EDT
23-24 September 2019 – Oppenheimer Fall Summit
A live webcast of the H.C. Wainwright presentation will be available in the Investors section of the Company's website, www.summitplc.com. A replay of the webcast will be available from the same location soon after the live presentation. There will be no podium presentations at the Janney and Oppenheimer conferences.
About Summit Therapeutics
Summit Therapeutics is a leader in antibiotic innovation. Our new mechanism antibiotics are designed to become the new standards of care for the benefit of patients and create value for payors and healthcare providers. We are currently developing new mechanism antibiotics for infections caused by C. difficile, N. gonorrhoeae and Enterobacteriaceae and are using our proprietary Discuva Platform to expand our pipeline. For more information, visit www.summitplc.com and follow us on Twitter @summitplc.
It maybe just me but I have not been able to find the presentation from the
Canaccord Genuity Growth Conference & so phoned Summit this afternoon it is a matter of clicking on the title per link below:
Per waterloo01 from the other board this morning:
NHS chief says that superbugs could kill us before climate change does
Dame Sally Davies warns 10million people could die every year from superbugs
England's chief medical officer says we are 'underinvesting in sorting it out'
Hi All - I have been following the SP the last couple of days to see if it dips below my top ups last week & so far for the first time since my small Buys going back to March it has not.Are we now at the bottom of the SP looking at the latest Buys some people must think so.