The company posted a pretax loss of
Summit had a cash position of
During the half year the company completed its Phase 1b clinical trial for Duchenne Muscular Dystrophy treatment SMT C11000, and has begun planning its next patient trial, which it expects to begin by the end of the year. Data from the trial was encouraging, and the trial achieved its primary endpoint.
Next it will undertake a trial to establish the optimal diet to improve the uptake of the treatment in patients, and if this is successful, it will enrol the patients into a Phase 2 open-label study to generate long-term efficacy and safety data.
During the period it began a Phase 2 clinical trial for its C. difficile bacteria treatment SMT19969. C. difficile bacteria infects the colon, causing serious illness, and is typically contracted by patients being treated with antibiotics which disrupt the normal gut flora.
In March the company's investigation new drug application for the compound was cleared by the
In July, the
"We look forward to an exciting period as we generate more data from clinical trials that we hope will provide a fuller understanding about the potential of these life-changing treatments for two serious diseases," said Chief Executive
Shares in Summit were trading down 0.7% at
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