Summit Therapeutics PLC (NASDAQ:SMMT) (LON:SUMM) shares soared higher on Monday as the firm trumpeted the early success of a pre-clinical antibiotic that may help overcome drug resistance to a potentially deadly infection.
The group said it presented data at a leading healthcare conference that showed its treatment, DDS-04, had successfully tackled bacteria called Enterobacteriaceae in animals with urinary tract infections.
Antimicrobial resistance means people contracting the gram-negative bacterial strain, which also affects the lungs and bloodstream, “are increasingly at risk for poor outcomes”, said Dr David Roblin, Summit’s head of research and development.
“Mainstay treatments are losing their effectiveness, and patients do not have the luxury of time to fail antibiotic therapy,” he explained. “There is a pressing need for new, targeted Enterobacteriaceae antibiotics that can serve to improve patient outcomes.”
The data were presented at the European Congress of Clinical Microbiology & Infectious Diseases, taking place in Amsterdam.
In early afternoon trading in London, Summit shares were 17.3% higher at 32.25p.
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