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such a shame for investors but an even bigger blow for those waiting for a cure

£3.978M

Interesting little RNS too oldbadger. If I were putting all my eggs in one basket at the moment this is the basket I would choose. They have floated at a discounted price and have a very sound business in an area that is never going to not be required. It would be good to have a few more people on board obviously but thank heavens it isn't one of those 700 post "hot-air shares"! Fingers crossed for the numbers coming out right tomorrow!

Nice little tick up here ahead of results day!

Spot on badger. What's the old adage "where there's muck there's money". Very true in this case!

oldbadger; I recently told my IFA that I wanted a risk factor of 4 (out of ten), my portfolio screams LIAR! This share was floated under its market value. With decent results will come some nice boring dividend and reasonable dull rise in the SP. Its a long way from being in vogue but does look like safe money!

I will be interested to see the results. Should be very good and hopefully see a rise in the SP. The dividend should be enough to cover any losses that have occurred since launch and realistically this company is worth approx. 70p a share more than they were sold off for. I cant see how this can lose. (famous words of a gambler)

No movement whatsoever and live quotes everywhere saying the same. Google Finance price is last nights close, LSE price is last nights close and HL quote is last nights price. Very strange. I was expecting a lift in line with US. Something is going on.

$13.55 = £2.21

Seems our American cousins like Summit today and have reversed the AIM trend as it was in the red all morning. What do they know that we don't?

I think you will find that this share does not commence trading until Thursday morning (20/10/2016). You should really expect to see a rise at that time but don't expect to be able to get your hands on any shares for a quick profit!

Dips61; Wed 08:08 The Nasdaq price is surely where this will go to today. It is almost inevitable that the two markets will follow each others leads. Yes it would be lovely to see this at £3 but that is for another day. The next big news day! No share ever goes up in a straight line a wise man once said. If you don't already have enough use the retrace to stock up! Not quite nobody!

SUMM would obviously not have done the deal if they had an alternative but it is beyond pointless us debating the merits of the deal when there was no alternative. We are now funded and as such in a very comfortable position. Maybe you would prefer us to still be at £1.30 without funding and running on fumes as you put it.

Pom, you can keep trotting out your assertion that Sarepta have got in cheap here (the market seems not to agree) but please do enlighten us as to what the alternative was for Summit. I am sure we would all love to know what else could have been done. Please do tell.

It couldn't have been that difficult to spot, I said it in real time although I did put a bottom out of 210p on it. I am not that clever so really anyone should have been able to predict this happening!

Sarepta Therapeutics (NASDAQ: SRPT) and Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM) today announced that they have entered into an exclusive license and collaboration agreement granting Sarepta rights in Europe, as well as in Turkey and the Commonwealth of Independent States ('the licensed territory'), to Summit's utrophin modulator pipeline, including its lead clinical candidate, ezutromid, for the treatment of Duchenne muscular dystrophy ('DMD'). As part of the agreement, Sarepta also obtains an option to license Latin American rights to Summit's utrophin modulator pipeline. Summit retains commercialization rights in all other countries. So.....Sarepta have stumped up the cash and basically bought the rights to various regions (crucially not USA). Thus one assumes that the deal looks good to Sarepta and they will recoup their stake when this goes to market in those regions that they have acquired. Surely then this means they expect to be making a tidy profit....any offers on when this will be. I am sure the cleverer ones among us have a timeline for this!

Is that the same market that has seen SUMM go up by 80p a share this week and seen Sarepta remain unchanged?

We were £1.30 before the RNS news, we are now £2.05 so where is the loss? There was always going to be a retrace. If you want to be a day-trader sell when you are happy. Otherwise stick with your belief and see where it may take you. The next good news is probably going to take us over £3. As with all shares, decide on your position and stick with it.

I fail to see the conclusion that this is a bad deal for SUMM. Without the deal funding may possibly have dried up and they and us would have been left with nothing! As it stands we now have funding to take this to its conclusion whilst retaining the largest sector for its use. We have given up half of a few regions but will receive milestone payments that will obviously be funded by Sareptas profit from the deal...what is there not to like? On the day the deal was announced Sarepta rose by 1% whereas SUMMIT rose by 100%. I know what the City thinks about the deal. We are now hovering around the 210 mark again and in my humble opinion this share is an absolute steal at that price. Other than PII failure there is nothing to stop this share going to £3+ in the next six months.

15.456 = £2.43 AIM currently £2.34 Pretty much aligned and slightly better than my £2.27 predicted finish (still time yet and the walkdown after hours)