Summit Therapeutics (NASDAQ: SMMT) reported Q1 EPS of (GBP0.06), versus (GBP0.08) reported last year.

Mr Glyn Edwards, Chief Executive Officer of Summit commented: "During the first quarter, we substantially expanded our shareholder base with a successful NASDAQ listing, which has provided significant support for the on-going patient clinical trials of our lead product candidates for the treatment of DMD and CDI. We look forward to reporting data from these studies as we seek to establish the potential of our two programmes as life-changing treatments."

HIGHLIGHTS

DUCHENNE MUSCULAR DYSTROPHY PROGRAMME

• Enrolment complete in Phase 1b modified diet clinical trial of SMT C1100; dosing on-going with top-line data expected to be reported in Q3 2015
• Plan to initiate Phase 2 open label clinical trial of SMT C1100 in H2 2015 and randomised placebo-controlled Phase 2 clinical trial of SMT C1100 in early 2016

C. DIFFICILE INFECTION PROGRAMME

• Enrolment and dosing of patients on-going in Phase 2 proof of concept clinical trial with top-line data expected in H2 2015
• Grant of key patent in the United States protecting the use of SMT19969 for the treatment of CDI

OPERATIONAL HIGHLIGHTS

• Initial public offering of American Depositary Shares in the United States and listing on the NASDAQ Global Market completed in March 2015; gross proceeds of $39.3 million raised
• Mr David Wurzer appointed to the Board of Directors as a Non-Executive Director
• Change of registered name to Summit Therapeutics plc in February 2015

FINANCIAL HIGHLIGHTS

• Cash and cash equivalents at 30 April 2015 of £29.4 million compared to £11.3 million at 31 January 2015
• Loss for the three months ended 30 April 2015 of £3.4 million compared to £2.6 million for the three months ended 30 April 2014

For earnings history and earnings-related data on Summit Therapeutics (SMMT) click here.