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.
