By Sam Boughedda
Investing.com — Summit Therapeutics PLC (NASDAQ:SMMT) shares have fallen almost 50% Monday after it revealed its phase 3 study evaluating its investigational drug, ridinilazole, failed to meet its primary endpoint.
The trial is assessing ridinilazole for Sustained Clinical Response as a potential treatment for patients suffering from C. difficile infection, an inflammation of the digestive tract caused by bacteria.
The study showed that ridinilazole resulted in a higher observed Sustained Clinical Response rate than antibiotic medication vancomycin but did not meet the primary endpoint for superiority.
Despite the disappointment of the study not reaching its endpoint, Summit's Chairman and CEO Robert W. Duggan was upbeat, stating: "We believe this study was indicative of worthwhile work, as the knowledge that we have acquired as a team over the past 18 months is priceless."
The company said it will continue to evaluate the data and perform additional analyses in order to discuss the next steps with regulatory agencies.