Summit Therapeutics PLC (ADR) (NASDAQ: SMMT) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced solid findings from a key clinical study, leading to excitement among investors, and sending the stock screaming for the top. Below, we’ll talk about the results, what we’re seeing from SMMT as a result, and what we’ll be watching for ahead.
SMMT Gains Big On Clinical Results
As mentioned above, Summit Therapeutics is having an incredibly strong day in the market today after reporting positive clinical results. In a press release issued early this morning, the company announced positive 24-week interim results from the open-label Phase 2 proof of concept trial known as PhaseOut DMD.
In the study, SMMT evaluated the utrophin modulator, known as ezutromid, in patients with Duchenne muscular dystrophy, also known as DMD. In the release, the company said that treatment with ezutromid resulted in a statistically and significant and meaningful reduction in muscle damage. This was measured by a 23% decrease in mean developmental myosin in muscle biopsies at 24 weeks when compared to baseline.
In the trail, 14 of 22 patients showed a decrease in developmental myosin. Five of these patients showed a greater than a 40% reduction. Finally, SMMT said that data showed an increase in mean utrophin protein intensity levels of 7% in biopsies at 24 weeks compared to baseline. In a statement, Professor Francesco Muntoni, Director of the Dubowitz Neuromuscular Centre at the UCL Institute of Child Health and Great Ormond Street Hospital for Children in London and Principal Investigator in the SMMT PhaseOut DMD trial, had the following to offer:
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… These favourable interim results are certainly a step forward in the development of utrophin modulations as a treatment approach for this fatal disease in all patients with DMD.
The above statement was followed up by Professor Dame Kay E. Davies FRS, Dr Lee’s Professor of Anatomy of the University of Oxford and Co-Founder of SMMT. Here’s what he had to offer:
The benefits of continual production of utrophin protein to protect against the progression of DMD have been well established in preclinical studies… These data provide the first evidence of utrophin modulation working in patients. If further findings build on this evidence they could establish ezutromid as a universal, disease-modifying treatment and bring hope to all patients and families living with DMD.
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