NTCD-M3 competitors stumble while issue approved
Destiny Pharma has successfully raised £6.45m in a Placing, Subscription, and Open Offer which, apart from funding the further preparation of its two lead assets for the Phase 3 studies, puts Destiny in a stronger position in licensing negotiations.Pfizer’s C.difficile toxin vaccine to prevent CDIs failed this primary endpoint in Phase 3. This shows that the prevention of not every infection is tractable by traditional vaccines. For novel and more difficult indications like CDIs, new approaches like a microbiome-directed approach are needed; but unfortunately for Destiny’s microbiome competitor Finch, safety concerns meant the FDA placed their Phase 3 study on clinical hold.
The fundraising, dilution and model changes have resulted in our valuation changing from £187.9m or 314p per share to £210.3m or 289p 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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