Summit wins $62M BARDA contract, shares surge; Novartis adds new CGRP data
⇨ Shares of Summit Therapeutics $SMMT shot up this morning after the biotech reported that it had won a $62 million contract from BARDA to support its late-stage work on its C. difficile infection drug ridinilazole.
⇨ The International Headache Society meeting in Vancouver over the weekend proved a good opportunity for the leaders in the CGRP migraine drug race to display their latest rounds of positive news. Novartis researchers showed up with a new analysis from a pivotal Phase II study which indicates their drug erenumab reduced monthly migraine days in patients with chronic migraine for whom previous preventive treatments have failed. This will help make their case that migraine sufferers who have been disappointed before can have a good shot of success with their therapy. Professor Messoud Ashina of the Danish Headache Center and department of neurology, University of Copenhagen, Denmark noted: ”By significantly cutting migraine days, erenumab could help people get back much of their lives, which is what matters most to them.”