Biotech billionaire Bob Duggan flies the white flag as Summit hunts a new owner, or partner, for sole clinical-stage effort
Bob Duggan’s Summit Therapeutics $SMMT is running out of moves for its sole clinical-stage candidate.
The biotech issued a terse statement in an SEC filing that it’s pulling the plug on the only active clinical trial for ridinilazole, which has been through a failed late-stage trial for C. difficile. A pediatric study is being curtailed as Summit says it decided a few days ago to either partner out the therapy or get a buyer — if they can find one.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 153,900+ biopharma pros reading Endpoints daily — and it's free.