Summit Therapeutics Inc. (SMMT)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Summit Therapeutics Inc. (“Summit” or the “Company”) (NASDAQ: SMMT). Investors who purchased Summit shares are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Summit and certain of its officers and/or directors have violated federal securities laws.
In a filing with the U.S. Securities and Exchange Commission on September 21, 2021, Summit disclosed that it “received feedback from the United States Food and Drug Administration (the ‘FDA’) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies [evaluating the Company’s investigational new drug ridinilazole] when combining the studies.” On this news, Summit’s stock price fell $1.30 per share, or 20.06%, to close at $5.18 per share on September 22, 2021. Then, on December 20, 2021, Summit issued a press release “announc[ing] topline results for the Phase III Ri-CoDIFy study”, reporting “that ridinilazole resulted in a higher observed SCR rate than vancomycin but did not meet the study’s primary endpoint for superiority.” On this news, Summit’s stock price fell $2.39 per share, or 47.99%, to close at $2.59 per share on December 20, 2021.
If you are aware of any facts relating to this investigation or purchased Summit shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.