Greater regulatory clarity given
As one of Destiny’s two Phase 3-ready products, the simplification of the Phase 3 study and the expected shorter duration will appeal to potential partners.This announcement today should give its potential partners comfort when estimating returns because of clarity on the ease of conducting the study, its cost, the comparator arm composition, and the duration of the Phase 3 program needed for approval.
While we expect this announcement will improve the chances of a licensing transaction on XF-73 Nasal, we have maintained our expectations for the timing of that deal in FY 2023.
Our valuation of Destiny remains unchanged at £209.6m or 288p per share.
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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