Summit Therapeutics posts wider first quarter losses

(MENAFN- ProactiveInvestors)Summit Therapeutics (LON:SUMM) unveiled wider first quarter losses but said it was expecting data on a flagship muscular dystrophy treatment later this year. Summit said it made a loss for the three months ended 30 April 2015 of £3.4mln compared to £2.6 mln for the three months ended 30 April 2014. The group said it had completed enrolment in a phase 1b clinical trial of its SMT C1100 treatment for Duchenne muscular dystrophy (DMD). Dosing is on-going with top-line data expected to be reported in third quarter of this year it said. It is also expecting top-line data from a phase 2 proof of concept clinical trial of a drug to treat C Difficile (CDI) in the second half of 2015. Chief executive Glyn Edwards said: "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."