logo-loader

Summit Therapeutics shares jump on 'exciting' interim results of ezutromid study

Last updated: 15:00 25 Jan 2018 GMT, First published: 12:15 25 Jan 2018 GMT

Summit
Duchenne Muscular Dystrophy is a rare muscle-wasting disease that affects boys

Shares in Summit Therapeutics PLC (LON:SUMM,NASDAQ:SMMT) shot higher today after it released encouraging data for its treatment for Duchenne Muscular Dystrophy (DMD).

The interim results for the PhaseOut study revealed a “statistically significant and meaningful” reduction in muscle damage in patients taking the company’s treatment, ezutromid.

READ: The release in detail

WATCH: CEO Edwards hugely excited after DMD 'breakthrough'

"The significant reduction in muscle damage coupled with the increase in utrophin expression seen in PhaseOut DMD trial patients at 24 weeks is very encouraging as it suggests ezutromid may slow the relentless cycle of muscle fibre degeneration and regeneration that is a hallmark of DMD," said Professor Francesco Muntoni.

He is a director of the Dubowitz Neuromuscular Centre, at the UCL Institute of Child Health and Great Ormond Street Hospital for Children, London, UK, and the principal investigator in Summit Phase II clinical trial.

"These favourable interim results are certainly a step forward in the development of utrophin modulation as a treatment approach for this fatal disease in all patients with DMD," he added.

The headlines from the study ... 

  • Treatment with ezutromid resulted in a statistically significant and meaningful reduction in muscle damage as measured by a 23% decrease in mean developmental myosin in muscle biopsies at 24 weeks compared to baseline (11.37% to 8.76%, 95% CI, -4.33, -0.90). Developmental myosin is a biomarker of muscle damage and is found in repairing fibres.
  • A total of 14 of 22 patients showed a decrease in developmental myosin, with five of those showing a greater than 40% reduction.
  • Increase in mean utrophin protein intensity levels of 7% in biopsies at 24 weeks compared to baseline (0.370 to 0.396, 95% CI, -0.005, 0.058).

Duchenne Muscular Dystrophy is a rare muscle-wasting disease that affects boys.

Summit’s research into the role of utrophin in DMD was based on the work of Dame Kay Davis, who made the link 30 years ago.

Dystrophin replacement

The protein is functionally and structurally similar to dystrophin, which is lacking in children with the disease.

Preclinical studies revealed the continued expression of utrophin had a meaningful, positive effect on muscle performance. The current trial appears to bear out the current findings.

The surprise is that its effects of ezutromid have been detected so early in the process. Investors will be updated next on the trial in the third-quarter, when PhaseOut hits the 48-week stage.

On the back of the interim data, the shares shot 21% higher to 215p, valuing Summitt at around £180mln.

Hugely excited 

The company’s chief executive, Glyn Edwards, on a conference call said he was “hugely excited by the data” as he announced plans to accelerate preparations for a pivotal clinical trial.

He said he wanted to “apply steroids” to the current plans to make them “bigger, better and faster”.

Analysts were taken through a presentation by David Roblin, the company’s chief medical officer. “This data set is strong and we are really pleased with it,” he said.

-- updates share price --

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

2 hours, 25 minutes ago