Member Info for Walkley

"We look forward to updating shareholders on our continued progress in the near future." all moving forward but can sense some frustration at not being able to quite announce completion of smelter land lease and finance.

More steady progress for ezutromid trial, so that boys on the drug can keep taking after the trial period and before final approval is given.

Thanks for that FM, glad to hear there is a dialogue, just disappointed there have been no programmes started. Perhaps Summit now has the resources to do things using the Seglin technology on their own.

In April 2014 Summit licensed its Seglin technology to Bristol-Myers Squibb . Does anyone know if we have ever had anything from it? Or did B-M S just take it to stop a competitor using it? If B-M S don't use it surely there is a clause for Summit to take it back in house, or sell it to someone else. If of course it is actually worth anything. Quote from Summit - April 2014: "We remain enthusiastic about the potential of the Seglin(TM) technology, and where possible, alternative ways of realising value from the Seglin platform will be sought. This approach was highlighted by the technology license agreement with Bristol-Myers Squibb. The license provides the US biopharmaceutical company with access to our proprietary technology to identify and develop drug candidates for up to ten targets across multiple therapeutic areas. Bristol-Myers Squibb is responsible for all research, with Summit eligible for research, development and regulatory milestones of up to $30 million per product, plus royalties on worldwide sales."

I would have hoped that the expected deal to take ridinilazole through Stage 3 testing would be the news that propels Summit into the next league and the share price signifantly higher. With pressure on the large pharmas to develop antibiotics I would have thought a c Difficile treating antibiotic would be very attractive to them. The US Food and Drug Administration, or FDA, has designated ridinilazole as a Qualified Infectious Disease Product or QIDP. The QIDP incentives are provided through the US GAIN Act and include an extension of marketing exclusivity for an additional five years upon FDA approval. Ridinilazole has also been granted Fast Track designation by the FDA.

From Google: 220p in London and $13.33 in New York (equivalent to 218p). And Sarepta up 6% too. A better week but on tiny volumes.

Price strong before the AGM tomorrow - perhaps expecting a positive trading statement.

Answering own post, I tried a dummy buy with Selftrade - offered 193p. So just no buyers or seller around

Is the fact that there have been no trades this morning significant? Do market makers shut up shop if something big is pending? The c. Diff phase 3 details are very encouraging but would not expect a deal for a while yet.

Not sure it is traders - there is no volume just a few people who need to sell for whatever reason.The huge spread is the problem any sale moves the SP by 10%!

I know £100,000 is small beer to Giles Clarke but good to see the directors putting up as well.

Looking at GW Pharmaceuticals briefly (I had never heard of them) they have almost no income (around £30m pa for each of the last 5 years), some cash, about £200m, and some cannabis derived candidate drugs. But their market cap is, ........ wait for it,........£2.5bn Summit's market cap is a twentieth of GW's with two very exciting drug developments in different areas. This is probably a bit simplistic but why is Summit's value so low compared to its peers?

Total investment is £48m of which this is £14m. From the feasibility study: "Study shows the ability of the Project to deliver an annual turnover of GBP 26.4 million with an EBITDA of GBP 8.1 million per annum (based upon current costs and commodity values)" Study done when pound 15% higher. and this is only phase one. Has taken longer than hoped but all very positive.

Sarepta and Summit both have considerable experience of DMD - combining their efforts is only going to help finding drugs that help sufferers and benefit both companies. Re C.Diff as the pressure for a deal,any deal, is now off they can negotiate a fair price with one of the big pharma's who are under pressure to develop new antibiotics, instead of giving in to the first offer that comes along

Sarepta's valuation is about 18 times as much as Summit -they have a bit more cash - well not so much more now that they have given some to Summit and spend more on R and D. Both companies have no real income yet, other than grants. As Summit is rapidly becoming a US company - look at the volume (x5) on Nasdaq compared to AIM, perhaps a closer correlation of the valuation between the two operations is warranted.

Can someone in "the trade" tell me why the spread is so huge on Summit. Tried some dummy trades and was quote 224p to 233p. Is this because market makers are worried that further big movements are likely?

RNS by Bushveld (BUSH)- - trying to develop market for vanadium in South Africa. iron veld will be a major source of Vanadium soon. "Bushveld Energy continues to make progress in executing its stated strategy to build a leading energy storage company for Africa utilising Vanadium Redox Flow Batteries ("VRFBs"). As articulated in the announcement dated 18 January 2016, BE believes the commercial utility scale energy storage opportunity in Africa and globally is very significant and that VRFBs are well placed to capture a considerable share of this market. As an integrated Group, Bushveld is well placed to address two key hurdles of VRFB adoption: a) availability of vanadium supply, and b) the vanadium input costs." Sirius and Summit have done the business -just waiting for IRON!!!

No great volume this morning 160,000 shares is less than £400,000

plus royalties

A good deal is when both parties are happy! Summit now has the funds to progress its C. Difficile candidate and look for potential drugs in other areas. Goodness knows what the right price is , but I don't think we are there just yet!!! Good to see some names of long term Summiteers here!