Destiny Pharma
Ticker: DEST Exchange: AIM www.destinypharma.com

Destiny Pharma is dedicated to the discovery, development and commercialisation of new antimicrobials that have unique properties to improve outcomes for patients and the delivery of medical care into the future.

M3: another gem in the portfolio

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

audiogram DEST may 2021

 

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