Hot Stock Buzz: Summit Therapeutics plc (NASDAQ: SMMT)

On Wednesday, Shares of Summit Therapeutics plc (NASDAQ: SMMT) surged 3.75% to $1.38. The stock traded total volume of 943 shares lower than the average volume of 49.68K shares.

Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), a leader in new mechanism antibiotic innovation, recently reports its financial results for the second quarter and half year ended 31 July 2018.

Financial Highlights:

  • Profit for the three months ended 31 July 2018 of £26.60M contrast to a loss of £3.30M for the three months ended 31 July 2017. Profit in the current quarter was driven by the recognition of all deferred revenue related to the Sarepta licence and partnership agreement following the discontinuation of ezutromid development
  • Cash and cash equivalents at 31 July 2018 of £17.10M contrast to £20.10M at 31 January 2018.

SMMT has the market capitalization of $109.23M. Price to sales ratio was 1.21 while 21.75% of the stock was owned by institutional investors.

Chad Pitman

Chad Pitman

I am Chad Pitman and I focus on breaking news stories and ensuring we (“Stocks Market Cap”) offer timely reporting on some of the most recent stories released through market wires about “Emerging Stocks”. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for specializing in quicker moving active shares with a short term view on investment opportunities and trends.

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