Summit successfully tests muscle dystrophy drug
Shares in drug developer Summit Corporation rocketed on Wednesday after it announced positive results in tests for its new Duchenne Muscular Dystrophy (DMD) drug.
Shares in drug developer Summit Corporation rocketed on Wednesday after it announced positive results in tests for its new Duchenne Muscular Dystrophy (DMD) drug.
DMD is a fatal muscle wasting disease for which there is currently no cure.
The firm announced positive top-line results from a Phase 1 clinical trial of 'SMT C1100', a potential disease modifying drug that works to increase the amount of a naturally occurring protein called atropin.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It now hopes to progress to trials on patients.
Summit said the first phase of trials had met primary objectives, with results showing the formulation to be safe and well tolerated at all doses.
"Importantly, the new formulation also demonstrated improved levels of absorption of the drug that were above those anticipated to be needed to achieve clinical efficacy," the firm said.
"These results are strongly supportive for the progression of SMT C1100 into patient clinical trials.
The company's shares were up 23.3% to 4.62p by 0900 following the announcement.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about