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Destiny Pharma (DEST)

Business description

Destiny Pharma is dedicated to the discovery, development and commercialisation of new antimicrobial agents that have unique properties to improve outcomes for patients. Destiny’s first product, XF-73, is about to start a US Phase IIb clinical study.

Stock data

Market cap.£27.9m
Last close64.00p
High / Low (52 weeks)159.0p / 61.5p
Stock market listingLN
Forecast net cash (£m)11457
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceuticals & healthcare

Price performance

%1m3m12m
Actual(5.2)(19.5)(59.8)
Relative *(6.8)(16.9)(54.6)

* % Relative to local index

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Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 0.0 (1.3) (1.5) (3.94) N/A N/A
2017A 0.0 (2.5) (3.2) (8.45) N/A N/A
2018E 0.0 (6.8) (7.4) (14.28) N/A N/A
2019E 0.5 (8.3) (8.3) (15.29) N/A N/A

Last updated on 13/11/2018

Investment summary

Destiny Pharma is a virtual UK antimicrobial discovery company in Phase II clinical studies in the US. Destiny’s XF series of antimicrobial agents are novel, rapidly bactericidal and not associated with bacterial resistance, which typically limits the use of other antimicrobial agents. This makes Destiny’s lead product, XF-73, ideal for the prevention of post-operative infections, an indication in which no other drugs have been approved. The activity of the XF-series against resistant bacteria may also have utility in the treatment of infections with a biofilm component. We forecast Destiny’s cash reach to at least 2020, with Phase IIb results for XF-73 available at the end of 2019.

Last updated on 02/01/2019

Industry outlook

While there are valid commercial criticisms of antibiotic development, the growing problem of antimicrobial resistance is making non-dilutive and alternative funding methods available to make antimicrobial drug development easier on companies. In addition, resistance has not been observed against Destiny's agents and their new preventative indications make antibiotic stewardship less of an issue.

Last updated on 02/01/2019

Key management

Neil Clark, CEO
Simon Sacerdoti, CFO
William Love, Founder and Chief Scientific Officer

Company address

Sussex Innovation Center, Science Park Square
Falmer, Brighton
BN1 9SB
United Kingdom
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