- Antibiotic developer Summit Therapeutics launched a share issue to raise $25m, while also announce its chief financial officer Erik Ostrowski would leave at the end of December to pursue another opportunity.

New American depository shares in the company would be issued at $1.60 each, representing a 32% premium the Nasdaq closing price on Friday.

Proceeds would be used to advance treatment candidates, including for the commencement of patient enrolment for the Phase 3 clinical programme of ridinilazole for the treatment of Clostridiumdifficile infection.

The company said it would appoint a new CFO in due course.

Story provided by