- Summit Therapeutics Inc (NASDAQ:SMMT) provided an update on the clinical development of ridinilazole, its lead Phase 3 product candidate for Clostridioides difficile infection (C. diff. infection or CDI).
- This week, Summit and the FDA held a Type C meeting during which Summit discussed certain data from the Ri-CoDIFy Phase 3 trial.
- Related: Summit Therapeutics’ Infection Candidate Flunks In Head-To-Head Trial.
- The FDA and Summit discussed a possible pathway to advance ridinilazole to achieve marketing authorization. This pathway would involve reasonable efforts that would likely involve at least one additional clinical trial. The company plans to explore this possibility.
- The company also plans to share the results from Ri-CoDIFy Phase 3 trial through an oral abstract presentation at IDWeek 2022 in October.
- Price Action: SMMT shares are up 1.85% at $0.97 during the market session on the last check Thursday.
fuboTV And 2 Other Stocks Under $3 Insiders Are Aggressively Buying
The Dow Jones closed higher by around 75 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
