Summit Therapeutics Inc. (NASDAQ: SMMT) is set to join the
broad-market Russell 3000® Index at the conclusion of the 2021
Russell indexes annual reconstitution, effective after the US
markets open on June 28, according to a preliminary list of
additions posted by FTSE Russell.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, ranking them by total market capitalization.
Membership in the US all-cap Russell 3000® Index, which
remains in place for one year, means automatic inclusion in the
large-cap Russell 1000® Index or small-cap Russell 2000® Index, as
well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings, and style
attributes.
“As we continue our progress in our mission to become a leader
in resolving high unmet medical needs, we appreciate the full
commitment this requires of Team Summit,” said Robert W. Duggan,
our Chairman and Chief Executive Officer. “Our inclusion
within the Russell 3000® Index represents the recognition of the
work Team Summit has put in thus far in the important journey to
achieve our mission.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, please visit the “Russell
Reconstitution” section on the FTSE Russell website.
About Summit TherapeuticsSummit
Therapeutics, empowered by its Discuva Platform, the Company’s
innovative antibiotic discovery engine, supported by BARDA and
CARB-X funding, intends to be the leader in patient-friendly and
paradigm-shifting treatments for infectious diseases and other
significant unmet medical needs while being an ally to
physicians. Our new mechanism pipeline product candidates are
designed with the goal to become the patient-friendly, new-era
standard of care, by working in harmony with the human microbiome
to treat prospective patients suffering from infectious disease,
initially focusing on Clostridioides difficile infections
(CDI). The overriding objective of Summit Therapeutics is to
create value for patients, hospital caregivers, and community-based
healthcare providers, as well as healthcare payers around the
world. We seek to create value by developing drugs with high
therapeutic efficacy - curing the cause of the patient's condition
with minimal or zero disease recurrence or antimicrobial
resistance, for the longest extent possible - and minimizing the
trauma caused to the patient and healthcare ecosystem by minimizing
serious side effects, disease recurrence, and inaccessibility to
our treatments as a result of financial or other barriers.
Currently, Summit’s lead product candidate, ridinilazole, is
engaged in two pivotal global Phase 3 trials, Ri-CoDIFy 1 & 2,
each enrolling approximately 680 patients vs. the standard of care
(vancomycin) for the treatment and reduction of recurrence of C.
difficile infections, in addition to an adolescent trial, Ri-CoDIFy
3. Commercialization of ridinilazole for the treatment and
the reduction of recurrence of CDI is subject to regulatory
approvals. SMT-738, the second candidate within Summit’s
portfolio, is currently in the IND-enabling phase for the treatment
of multidrug resistant infections, specifically those caused by
carbapenem-resistant Enterobacteriaceae (CRE).
For more information, please visit www.summittxinc.com and
follow us on Twitter @summitplc. For more information on the
Company’s Discuva Platform, please visit
https://www.summittxinc.com/our-science/discuva-platform.
Contact Summit Investor RelationsDave
GancarzHead of Investor Relations & Corporate
Strategydavid.gancarz@summitplc.com
General Inquiries:
investors@summitplc.com
About FTSE RussellFTSE Russell is a global index leader
that provides innovative benchmarking, analytics and data solutions
for investors worldwide. FTSE Russell calculates thousands of
indexes that measure and benchmark markets and asset classes in
more than 70 countries, covering 98% of the investable market
globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $17.9
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Summit Forward-looking
StatementsAny statements in this press release about the
Company’s future expectations, plans and prospects, including but
not limited to, statements about the clinical and preclinical
development of the Company’s product candidates, the therapeutic
potential of the Company’s product candidates, the potential
commercialization of the Company’s product candidates, the timing
of initiation, completion and availability of data from clinical
trials, the potential submission of applications for marketing
approvals, the impact of the COVID-19 pandemic on the Company’s
operations and clinical trials and other statements containing the
words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict,"
"project," "should," "target," "would," and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties inherent in the initiation of future clinical trials,
availability and timing of data from ongoing and future clinical
trials and the results of such trials, global public health crises,
including the coronavirus COVID-19 outbreak, that may affect timing
and status of our clinical trials and operations, whether
preliminary results from a clinical trial will be predictive of the
final results of that trial or whether results of early clinical
trials or preclinical studies will be indicative of the results of
later clinical trials, expectations for regulatory approvals, laws
and regulations affecting government contracts and funding awards,
availability of funding sufficient for the Company’s foreseeable
and unforeseeable operating expenses and capital expenditure
requirements and other factors discussed in the "Risk Factors"
section of filings that the Company makes with the Securities and
Exchange Commission. Accordingly, readers should not place undue
reliance on forward-looking statements or information. In addition,
any forward-looking statements included in this press release
represent the Company’s views only as of the date of this release
and should not be relied upon as representing the Company’s views
as of any subsequent date. The Company specifically disclaims any
obligation to update any forward-looking statements included in
this press release.
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