ONGOING INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in Summit Therapeutics Inc. with Losses of $100,000 to Contact the Firm
LOS ANGELES, Dec. 31, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Summit Therapeutics Inc. ("Summit" or "the Company") (NASDAQ: SMMT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Summit disclosed in an SEC filing on September 21, 2021, that it "received feedback from the United States Food and Drug Administration (the 'FDA') that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies [evaluating the Company's investigational new drug ridinilazole] when combining the studies." The Company's shares dropped by more than 20% on September 22, 2021, based on this news. The Company announced via a press release on December 20, 2021, that "ridinilazole resulted in a higher observed SCR rate than vancomycin but did not meet the study's primary endpoint for superiority." Based on this news, shares of Summit fell by almost 48%.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
SOURCE The Schall Law Firm
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