Today’s Research Reports on Stocks to Watch: Aquinox Pharmaceuticals and Summit Therapeutics

NEW YORK, NY / ACCESSWIRE / June 28, 2018 / Aquinox Pharmaceuticals and Summit Therapeutics both saw their shares dramatically drop on Wednesday after each company announced failed trial results.

RDI Initiates Coverage on:

Aquinox Pharmaceuticals, Inc.
https://www.rdinvesting.com/report/?ticker=AQXP

Summit Therapeutics plc
https://www.rdinvesting.com/report/?ticker=SMMT

Aquinox Pharmaceuticals, Inc. shares closed down almost 85% on Wednesday and hit a new low of $2.25 on about 14.2 million shares traded. Failed test results sent shares plummeting yesterday. The company revealed that late-stage trial results for its bladder pain drug failed to perform better than the placebo in patients. Aquinox announced yesterday that the Phase 3 LEADERSHIP 301 clinical trial evaluating once-daily, oral rosiptor for the treatment of interstitial cystitis/bladder pain syndrome (IC/BPS) failed to meet its primary endpoint. CEO David Main stated, “This is a disappointing result for Aquinox and for patients.” He also said, “We will be halting all further development of rosiptor.” Main explained, “When you look at the drug and the placebo, the patients improved from start to finish, but it didn’t matter whether they took the placebo or drug.” The company said that it will review its guidelines and provide further guidance later this year.

Access RDI’s Aquinox Pharmaceuticals, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=AQXP

Summit Therapeutics plc shares closed down almost 80% yesterday on about 2.2 million shares traded. The stock sunk to a new low of $2.17 after Wall Street learned that PhaseOut DMD, a multi-centre, open-label Phase 2 clinical trial of the utrophin modulator, ezutromid, had not met its primary or secondary endpoints after 48 weeks of treatment of ezutromid in patients with Duchenne muscular dystrophy (DMD). The company has decided to discontinue the development of ezutromid. CEO Glyn Edwards remarked, “These data come as a great disappointment to us and to all those living with DMD. While we believe utrophin modulation could still have a place in the treatment of DMD, it is clear that ezutromid is not providing a benefit for patients. We therefore feel that our resources are better focused on the development of our promising pipeline of new mechanism antibiotics.” He added, “We sincerely thank the patients, families and clinical trial sites involved in all of the ezutromid clinical trials for their commitment to advancing research in DMD. We hope that the information we have gathered can ultimately be used to benefit ongoing research in DMD.”

Access RDI’s Summit Therapeutics plc Research Report at:
https://www.rdinvesting.com/report/?ticker=SMMT

Our Actionable Research on Aquinox Pharmaceuticals, Inc. (NASDAQ: AQXP) and Summit Therapeutics plc (NASDAQ: SMMT) can be downloaded free of charge at Research Driven Investing.

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