Summit Therapeutics' Infection Candidate Flunks In Head-To-Head Trial

Summit Therapeutics Inc SMMT shares are trading lower after disappointing results from the Phase 3 Ri-CoDIFy study of ridinilazole for C. difficile infection (CDI). 

• The study showed that ridinilazole resulted in a higher observed Sustained Clinical Response (SCR) rate than vancomycin but did not meet the study's primary endpoint for superiority. 
• Patients treated with ridinilazole, a precision antibiotic, experienced substantially less recurrence of C. diff. Infection as compared to patients administered vancomycin.
• Related: FDA Not In Favor Of Summit Therapeutics' Endpoint Change To Pivotal Infection Trials.
• Full results from the Ri-CoDIFy study will be presented at upcoming medical conferences and published in a peer-reviewed medical journal. 
• The Company will continue to evaluate the underlying data and perform additional analyses, including analyses specific to the microbiome.
• The Company is also announcing that it anticipates commencing rights offering in January 2022. 
• It is expected that the record date for the distribution of rights will be in mid-January.
• Price Action: SMMT shares are down 46.4% at $2.67 during the market session on the last check Monday.