With the recent announcement of the positive Phase 2b clinical study of XF-73 in the prevention of post-surgical staphylococcal infections, Destiny has become a rare UK biotech company owning two Phase 3-ready assets. Yet NTCD-M3 may have been forgotten by investors with the excitement surrounding the positive clinical trial announcement.
Destiny acquired the worldwide rights to the non-toxigenic Clostridioides difficile strain M3 (NTCD-M3) for the prevention of C.difficile infections (CDIs) in November 2020. Despite a number of old antibiotic therapies, CDIs remain an unmet and potentially fatal medical need, and are the most common cause of health care-associated infection in US hospitals with recurrence occurring in 25% to 30% of patients.
Our financial forecasts were modestly adjusted for Destiny’s recent FY 2020 results on April 14 to reflect its cash position. While other competitors to NTCD-M3 have higher market capitalisations, they are based in the US with its greater access to investors and capital.
ED’s fair value of Destiny Pharma again changes slightly to £200.2m or 335p per share (from £214.0m or 357p per share), as we amend our £/$ rate to 1.39
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