Summit Therapeutics (SMMT) Surges 80% on Sarepta (SRPT) Deal

October 4, 2016 8:56 AM EDT

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Summit Therapeutics (NASDAQ: SMMT) is trading up 80% in pre-open trade after the company entered an exclusive license and collaboration agreement granting Sarepta (NASDAQ: SRPT) 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.

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