Summit Therapeutics plc (NASDAQ:SMMT) Q2 2019 Earnings Conference Call - Final Transcript

Oct 11, 2019 • 08:00 am ET

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Summit Therapeutics plc (NASDAQ:SMMT) Q2 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Thank you, ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions] And the first question comes from the line of Ross Blair from RX Securities, please ask your question. Your line is now open.

Analyst
Ross Blair

Hi, there. Congrats on the progress you're making in your phase 3 trial for ridinilazole. And I just have a couple of questions today. Firstly, given your recent appointments and is it your intent to keep hold of US rights for ridinilazole. And my -- and second question is, is there anything else you could tell us about the current commercialization plans for ridinilazole. And third question -- third and final question is, how are you planning on differentiating SMT-571 in gonorrhea and with future trials for example would they also aim to demonstrate superiority. Thank you.

Executive
Glyn Edwards

Ross, thanks very much and congratulations on your new appointment. So let's take 571 first. It's very early days at this stage. Resistance is a big issue. Resistance is growing. So we would expect to show that it's better against resistant patients. But it's highly likely that a program like that is going to be picked up by significant third party funders and so we expect that the primary drive for that development and almost all the costs pickup for that will be in NGOs particularly aiming at the developing world where there's real problems, leaving us the opportunity to market in the -- or to retain rights for the developed world.

So completely forgotten the first question, what was the first question? US rights. Yes. Absolutely, we do intend to market ridinilazole in the United States. It's a huge opportunity. There are 0.5 million new cases of C. difficile every year and the current treatment vancomycin fails in approximately a third of those patients and we've shown in our phase 2 and with all the science that we have the opportunity to really make a big impact on that and the trial is designed so if successful, we'll have all the data that says, why a doctor who want to prescribe it will have all the data, including the quality of life data as well as the cure data that will mean the patient will want to be prescribed it.

But also will help the health economic outcomes data that will tell the payers why using ridinilazole front line in the majority of their patients will actually be a great economic move for them. So we think, there is a massive opportunity for this product in the United States. Currently, our thoughts are for the rest of the world that we will ultimately find partners who will want to do that. And interestingly, as we look at growth projections, probably the most attractive market after the US is going to be China.

Analyst
Ross Blair

That's really useful to know. Thank you very much.

Operator
Operator

Thank you. And the next question comes from the line of Tim Chiang from BTIG. Please ask your question. Your line is now open.

Analyst
Tim Chiang

Hi,