U.S. markets closed

  • S&P 500

    4,204.31
    -55.21 (-1.30%)
     

  • Dow 30

    32,944.19
    -229.88 (-0.69%)
     

  • Nasdaq

    12,843.81
    -286.16 (-2.18%)
     

  • Russell 2000

    1,979.67
    -32.00 (-1.59%)
     

  • Crude Oil

    109.09
    +3.07 (+2.90%)
     

  • Gold

    1,992.30
    -8.10 (-0.40%)
     

  • Silver

    26.22
    -0.04 (-0.14%)
     

  • EUR/USD

    1.0915
    -0.0079 (-0.72%)
     

  • 10-Yr Bond

    2.0040
    -0.0070 (-0.35%)
     

  • GBP/USD

    1.3038
    -0.0045 (-0.34%)
     

  • USD/JPY

    117.2800
    +1.1500 (+0.99%)
     

  • BTC-USD

    39,162.80
    +68.73 (+0.18%)
     

  • CMC Crypto 200

    871.90
    +7.96 (+0.92%)
     

  • FTSE 100

    7,155.64
    +56.55 (+0.80%)
     

  • Nikkei 225

    25,162.78
    -527.62 (-2.05%)
     

Summit Therapeutics' Infection Candidate Flunks In Head-To-Head Trial

  • Oops!
    Something went wrong.
    Please try again later.
Vandana Singh
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • SMMT

Summit Therapeutics Inc (NASDAQ: SMMT) shares are trading lower after disappointing results from the Phase 3 Ri-CoDIFy study of ridinilazole for C. difficile infection (CDI).

  • The study showed that ridinilazole resulted in a higher observed Sustained Clinical Response (SCR) rate than vancomycin but did not meet the study's primary endpoint for superiority.

  • Patients treated with ridinilazole, a precision antibiotic, experienced substantially less recurrence of C. diff. Infection as compared to patients administered vancomycin.

  • Related: FDA Not In Favor Of Summit Therapeutics' Endpoint Change To Pivotal Infection Trials.

  • Full results from the Ri-CoDIFy study will be presented at upcoming medical conferences and published in a peer-reviewed medical journal.

  • The Company will continue to evaluate the underlying data and perform additional analyses, including analyses specific to the microbiome.

  • The Company is also announcing that it anticipates commencing rights offering in January 2022.

  • It is expected that the record date for the distribution of rights will be in mid-January.

  • Price Action: SMMT shares are down 46.4% at $2.67 during the market session on the last check Monday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Should You Buy Amazon Stock Now or Wait Until After the Stock Split?

    Amazon (NASDAQ: AMZN) announced a 20-for-1 stock split after the market closed on March 9. Typically, a split announcement draws a lot of attention to a stock, and Amazon is no exception. Despite recent loss-taking by the broad market, Amazon's shares were up more than 6% on the day following the announcement.

  • Amazon Split Its Stock 20-for-1 — and That’s Not Even the Best Reason to Buy the Stock

    On Wednesday, March 9, Amazon (AMZN) dropped a bombshell: For the first time since September 1999, the first time this century -- the first time this millennium -- Amazon will split its stock. And we're not talking a tiny 2-for-1 or 3-for-1 split, either. After watching its share price rise an astounding 4,000%-plus over the last couple decades, Amazon will need to split its $2,900 stock into much tinier pieces in order to get the per-share price down to a reasonable-seeming level. Accordingly,

  • Goldman Cuts S&P 500 Target Again as Gloom Descends Upon Stocks

    (Bloomberg) -- Goldman Sachs Group Inc. strategists lowered their target for the S&P 500 index for the second time in a month, implying negative returns for the year, after a global commodity crunch triggered by Russia’s invasion of Ukraine deepened the slump in U.S stocks. Most Read from BloombergUkraine Update: Food Supplies Hold as Russia Intensifies BombingUkraine Update: U.S. Imposes Sanctions on More Russian EliteBiden Says He’d Fight World War III for NATO But Not for UkraineItaly Seizes

  • Russian spy chiefs ‘under house arrest’ as Putin turns on his security chiefs over invasion setback

    Source reveals that Russian intelligence “miscalculated” the resistance expected in Ukraine in the run-up to invasion

  • How Much Can a Retired Person Earn Without Paying Taxes?

    Many retirees plan to earn extra income to supplement their retirement spending. But how much can a retired person earn without paying taxes? The answer to this question varies based on your situation. Understanding the tax rules surrounding retiree income can … Continue reading → The post How Much Can a Retired Person Earn Without Paying Taxes? appeared first on SmartAsset Blog.

  • Goldman Sachs’ CEO demanded all employees return full-time to the office. Only half showed up

    David Solomon believes in-office work is crucial to the bank’s success. In a post-pandemic world, will employees agree?

  • Dow Jones Futures: Market Rally Nears Lows Amid Ukraine Invasion, Looming Fed Rate Hike; What To Do

    Russia's Ukraine invasion and a looming Fed rate hike are big headwinds as the major indexes nearing their Feb. 24 lows.

  • Salma Hayek, 55, Posed Pantsless On IG—And Her Super Toned Legs Are Pure Muscle

    Salma Hayek shows off miles of killer legs as she poses pantsless in an oversized T-shirt on Instagram. Short daily workouts keep her in super great shape.

  • Billionaire Israel Englander Bets on These 2 High-Yield Dividend Stocks

    If there’s one thing certain, it’s that markets are unpredictable – and that unpredictability is increasing. This past week has seen the sharpest day-to-day volatility on Wall Street since 2020. In an added complication, the reasons are multiplying: high inflation is rising higher, wages are not keeping up, Russia’s invasion of Ukraine has started Europe’s largest war since 1945, and energy and food commodities – key ingredients in the inflation mix – are sure to rise in price as a result of tha

  • Disney CEO Makes It Clear a Big Price Increase Is Coming (Here's When)

    The Mouse House has never been shy about charging more for any of its well-loved products, properties, and services.

  • It’s the Beginning of the End for Russian Gas in Europe. These Stocks Should Benefit.

    The European Union is planning to cut Russian gas imports. Its target may be aspirational but the political sign looks serious.

  • Why Your Tesla or Ford EV May Soon Be Even More Valuable

    When those big winter storms or blazing hot summer temperatures knock out power for miles around, where can you turn if you don't have a power generator handy? Electric vehicles have not been an option, unless an EV owner wanted to take a chance on having their car's warranty revoked by making some electrical adjustments to their vehicle. Tesla warranties state that vehicle damage or malfunction caused by "using the vehicle as a stationary power source" would not be covered by the vehicle's warranty and could void the warranty, according to an Electrek report.

  • Morgan Stanley Trader Exits After Racking Up Millions in Losses

    (Bloomberg) -- A Morgan Stanley trader is leaving the firm after racking up tens of millions of dollars in losses as a bout of market turmoil makes and breaks trading books across Wall Street.Most Read from BloombergUkraine Update: Kuleba Says Russian Talks Fruitless So FarRussia Devises Plan to Seize Firms Abandoned in Foreigner ExodusUkraine Update: Russia Targeting Airfields in Western UkraineRussia Bans Export of 200 Products After Suffering Sanctions HitTech Walls Off Russia Like Never Befo

  • Grimes Shares How Elon Musk Lives, Spends His Money

    The weirdest thing about Elon Musk and Grimes' relationship, and the thing that almost no one wants to admit, is that it's at least kinda cute. The CEO and Chief Engineer of SpaceX and Tesla and the musician born Claire Boucher are both polarizing figures, to be put it lightly. Musk presents himself as a creature of pure ID, one who can disrupt the stock market with a few tweets, while Grimes presents herself as a real-time anime character.

  • 5 Artificial Intelligence Growth Stocks to Buy Now and Hold

    The artificial intelligence industry could be a huge source of upside for investors over the long term.

  • 2 Stocks I Will Buy If the Stock Market Keeps Crashing

    With prices on many stocks dropping like stones, these two companies are near the top of my "to buy" watchlist.

  • A $37 Billion U.S. Bond Fund Emerges as a Big Loser From Russia

    (Bloomberg) -- As Wall Street starts to tally the market damage triggered by Russia’s invasion of Ukraine, a big bond fund run by Franklin Resources Inc. is emerging as an early loser.Most Read from BloombergUkraine Update: Food Supplies Hold as Russia Intensifies BombingUkraine Update: U.S. Imposes Sanctions on More Russian EliteBiden Says He’d Fight World War III for NATO But Not for UkraineItaly Seizes $580 Million Russian Superyacht Over SanctionsRussian Official Warns Finland, Sweden Agains

  • Why DiDi Stock Crashed Today

    Shares of DiDi Global (NYSE: DIDI) plunged 44% on Friday, following reports that the Chinese ride-hailing leader was ceasing its preparations for a listing on the Hong Kong Stock Exchange. DiDi reportedly went ahead with its initial public offering (IPO) in June despite calls from Chinese regulators to first strengthen its data management systems, so as to better protect its users' personal information. In December, the situation worsened to the point that Didi announced its intention to delist its shares from the New York Stock Exchange.

  • Warren Buffett’s Berkshire Hathaway Now Holds $6.9 Billion of Occidental Petroleum After Recent Buys

    The buying reflects the enthusiasm of Berkshire Hathaway CEO Warren Buffett for Occidental Petroleum, which has staged a major recovery along with the surge in oil and natural gas prices.

  • Want Stability? These 3 Energy Stocks Are as Safe as They Come

    The energy industry is notoriously volatile. Energy prices can rise or fall significantly on the hint of supply or demand issues. Because of that, the sector isn't known for its ability to deliver stable growth.