Destiny Pharma - Porphyrins ring time on antibiotic resistance
Destiny Pharma’s H118 financial results were less about the numbers and more about the preparation for XF-73’s US Phase IIb study in the prevention of post-surgical infections. Destiny’s operating loss was £2.7m, largely due to the build-up to the US Phase IIb study, which is expected to continue into FY19. The net loss was £2.3m. Cash at the end of H118 was £15.1m, which we estimate provides a runway through to 2020.Destiny Pharma is engaged in the discovery, development and commercialization of antimicrobials that have properties to improve outcomes for patients and the delivery of medical care into the future.
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