Summit Corporation - DMD Collaboration

Summit Corporation DMD Collaboration As part of its comprehensive biomarker programme to advance its utrophin modulator programme for Duchenne Muscular Dystrophy (DMD), Summit Corporation has entered into a collaboration with Dr Yetrib Hathout from Children's National Medical Centre in Washington DC. The collaboration is being financially supported by a grant from the Foundation to Eradicate Duchenne. We are encouraged by this agreement as it supports the progress already made by Summit's utrophin modulator programme, bringing its SMT C100 drug a step closer to market. It also confirms the high level of confidence the DMD community has in Summit's drug candidate. With the company also making good progress with its SMT 19969 programme for the treatment of C.difficile infection, our stance remains speculative buy with a target price of 16.83p. Click to Download Full Report Table: Financial overview Year to 31st Jan 2011A 2012A 2013E 2014E Revenue (£000) 763 1,765 1,732 4,870 PBT (£000) (5,916) (2,998) (4,048) 796 EPS (p) (2.82) (1.51) (1.19) 0.836 Dividend (p) 0.0 0.0 0.0 0.0 Source: GECR and company Speculative Buy Target price 16.83p Key data Share Price 4.50p 52 week high/low 8.25p / 2.25p Primary exchange AIM EPIC SUMM Shares in issue 354.09 m Market Cap £15.93m Sector Pharmaceuticals & Biotechnology Important: All disclaimer information can be found on the last page of the document

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