Summit Therapeutics has posted an H1 loss of $17.9m, from a loss of $13.5m a year ago. Most of the losses were due to research and development expenses, followed by those for general and administration.
"Strong progress has been made in the clinical development of ezutromid. With two promising formulations of ezutromid in clinical development, Summit is focused on the efficient evaluation of the efficacy and safety of this utrophin modulator which has orphan drug status in the US and Europe," it said.
"The Company's plans are designed to support early submissions for accelerated and conditional approvals while continuing to build a broad and robust body of clinical evidence and working towards obtaining regulatory approval of ezutromid and making it available to all patients with DMD.
"Given the potential benefit of ezutromid for all patients with DMD, the Company believes that it represents a very compelling product candidate with the potential to generate value for shareholders.
"The Company further believes that the comprehensive data from the CoDIFy clinical trial support the positioning of ridinilazole as a selective antibiotic with the potential to treat C. difficile infection, while simultaneously preserving the microbiome to help protect against recurrent disease.
"The additional data recently reported underline the commercial opportunity for ridinilazole, and the Company's preference is to partner with a third-party collaborator on the development and commercialisation of the product candidate."
At 12:23pm: (LON:SUMM) Summit Therapeutics PLC share price was 0p at 102p