Diamonds and Dogs


Rising to the Summit. Summit Therapeutics (SMMT) is surging 66% after the company said it has entered an exclusive license and collaboration agreement with Sarepta Therapeutics (SRPT) for the European rights to Summit's utrophin modulator pipeline for the treatment of Duchenne Muscular Dystrophy. As part of the deal, Sarepta and Summit will share research and development costs and Sarepta will also get an option to license Latin American rights. Summit will receive $40 million upfront and up to $522 million plus royalties if certain milestones are achieved. Utrophin modulation is a possible treatment for patients with the muscle-wasting disease, DMD.

The tribe has spoken. Trinity Biotech PLC (TRIB) is down 50% to a 52 week low after the company announced that it would withdraw one of its submissions to the U.S. Food and Drug Administration. Specifically, the company said that it is withdrawing its 510(k) pre-market notification submission for the Meritas Troponin-I Test and Meritas Point-of-Care Analyzer. Essentially, the company held a meeting with the FDA last week, in order to obtain an update on the company's Meritas Troponin submission. At this meeting the FDA asked Trinity to consider withdrawing their submission, due to some concerns the agency had about the submission.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.