Summit Therapeutics PLC (LON:SUMM, NASDAQ:SMMT) chief executive Glyn Edwards believes the company’s phase II drug could be the new standard of care for children with Duchenne muscular dystrophy, a fatal muscle-wasting disease that affects boys.
His assessment of the potential of ezutromid followed the release of 24-week data from the company’s clinical study of the treatment, which revealed a statistically significant and meaningful reduction in both muscle damage and inflammation.
“The strength of the interim data from our PhaseOut DMD trial has bolstered our belief that ezutromid could become a new standard of care for all patients with Duchenne muscular dystrophy,” Edwards said in an update alongside the company’s first-quarter results.
The read-out from the completed second-phase trial is expected in the third-quarter.
The company’s second drug, next-generation antibiotic ridinilazole, is expected to undergo a phase III trial in the first three months of next year.
Financially, Summit is in a strong position. A £15mln share placing helped bolster Summit’s bank balance, which was £27.7mln at the end of April. The company posted a loss of £5.8mln for the three months ended April 30.