Destiny Pharma Share Discussion Threads

[sev22] 06/7/2021 08:15

A morning note from the House broker finnCap Group. There is more detail on their web-site (free access).

Destiny Pharma (DEST): Corp

NTCD-M3 – R&D agreement with US Veterans Affairs.

Destiny has announced a Cooperative R&D agreement with the US Department of Veterans Affairs to support some pre-clinical studies that will focus on identifying new attributes for NTCD-M3, its Phase3-ready microbiome therapeutic being developed to reduce the recurrence of Clostridioides difficile infections (CDI) in the gut. These studies could support the use of NTCD-M3 in a broader CDI patient population and therefore increase the size of the market beyond its initial indication of the prevention of recurrent CDI. Destiny expects these studies to complete in Q4 2021 and should be used to inform further the planning for the Phase 3 study, which is due to start in 2022. The recent $535m upfront and bio-dollar deal for Seres Therapeutics’ microbiome treatment for recurrent CDI illustrates the attractions of this market and NTCD-M3 in particular, given the potential class-leading rate of recurrence. We reiterate our target price of 370p.

[gb904150] 05/7/2021 09:15

Those finncapp notes never seem to download.

You sign up with email on finncap, click the note you want. It sends you a link by email which just loops you round to the website.

Does it work for anybody else?

[sev22] 04/7/2021 21:01

Referring to my previous post 585, private investors can access the House Broker 'finnCap's latest research note on Destiny Pharma in more detail at:



Access is free and you can sign in using a personal email address.

The latest note published on Friday 2nd July 2021 re-iterates just how grossly undervalued DEST really is, especially when compared to its peers.

[edmonda] 02/7/2021 08:04

Recent transactions and the introduction of a new Act of the US Congress are further advancing the narratives on both the microbiome and new antimicrobials. These are the two areas where Destiny Pharma is focussed. Deals in the anti-infective space highlight the discrepancy between US and UK valuations for these assets, and it can only be a matter of time before Destiny, with its late-stage assets with better competitive profiles, becomes involved.

We have left our financial forecasts and valuation unchanged, but recognise the differential between our valuation of Destiny, with two Phase 3-ready anti-infective and microbiome assets, and Seres’ $2.1bn market capitalisation. We expect this to be narrowed once Destiny starts announcing its own transactions. Our fair value of Destiny Pharma remains at £200.2m or 335p per share.

[sev22] 02/7/2021 07:55

An up to date note has just been released by the House broker this morning:

Destiny Pharma (DEST): Corp Read-across – Seres Therapeutics’ $535m deal Seres Therapeutics’ agreement with Nestlé Health Science, announced on 1 July, to jointly commercialise SER-109 (oral microbiome therapeutic for recurrent Clostridioides difficile infection (rCDI)), highlights the potential value of Destiny’s microbiome therapy (NTCD-M3), which is expected to enter a pivotal Phase 3 trial in 2022 and is in our view yet to be reflected in Destiny’s current valuation. The $535m bio-dollar deal, with 50% profit share in North America, indicates substantial incremental value for NTCD-M3, which is targeting the prevention of recurrent CDI, unlike the smaller multi-recurrent (≥3 CDI episodes in 12 months) market for SER-109.

Given NTCD-M3’s highly favourable Phase 2 data that points to a superior recurrence rate versus SER-109, we reiterate our target valuation of 370p. Assuming similar deal terms to Seres, this would imply an rNPV of c.540p.

[sev22] 29/6/2021 09:00

This was the last note from the House broker dated 7th June 2021. We should be due an update any day now.

The G7 Health Ministers issued a communique on 4 June 2021 highlighting the global threat of the “silent pandemic” of Antimicrobial Resistance (AMR) and the urgent need for the development of new treatments. They made clear that the G7 should support investment, regulatory and commercial incentives to companies such as Destiny Pharma, whose two Phase 3-ready assets (NTCD-M3 with FDA confirmation of Phase 3 design) speak to these very issues and fulfil in our opinion the criteria for government support and funding.

We expect Destiny to pursue these avenues of funding for its two lead programmes (XF-73 and NTCD-M3), which are scheduled to start Phase 3 studies in 2022. We reiterate our target valuation of 370p.

 Newsflow. The G7 Health Ministers’ Meeting communique highlighted the global threat of the “silent pandemic” of Antimicrobial Resistance (AMR) and the urgent need for the development of new treatments. It made clear that the G7 should support investment, regulatory and commercial incentives for drug developers, with the focus in 2021 to explore concrete market incentives options to bring new antimicrobials (in particular antibiotics) to market and to ensure security of supply.

 Implications for Destiny. Destiny has two novel Phase 3-ready assets that address these issues and should meet the criteria, in our view, for such financial support.

 NTCD-M3 has been shown in Phase 2 trial to reduce the recurrence of C. difficile infection (CDI) with a potential ‘best in class’ recurrence rate of just 5%, which compares with typical recurrence rates of CDI of c.30%. This would reduce the need for additional treatment with antibiotics and, therefore, the potential for the emergence of resistant strains.

 XF-73 nasal gel for the decolonisation of patients prior to surgery who are carrying Staphylococcus aureus in the nose. This is the lead clinical asset from Destiny’s novel XF platform, which has delivered research data showing that it reduces the chance of bacteria becoming resistant to XF-73 because of the ultra-rapid mechanism of action. Destiny also has earlier XF research projects targeted at preventing and/or treating infections whilst also addressing the threat of AMR and not causing the generation of new “superbug̶1; strains.

 Valuation. With a cash runway that extends to Q4 2022, we reiterate a 370p target price, underpinned by an rNPV of 372p and peer group valuations in the US that currently trade at c.£600m+. Our valuation excludes any value attributable to other drugs from the XF platform or SPOR-COV collaboration, suggesting multiple levers for further value appreciation.

[sev22] 28/6/2021 20:03

Destiny Pharma to present at the Shares and AJ Bell investor evening webinar on 6 July 2021.

[gb904150] 25/6/2021 14:52

The thing I'm most disappointed in is that the amractionfund.com which was set up specifically to accelerate treatments that help in the battle against AMR is still not ready and still not investing.



Despite all the hype at launch the fund still isn't investing. In DEST's case - the fund not being ready could even be said to be delaying their phase 3 trials.

All those G7 members in Cornwall talking up AMR as a priority and all those big pharma banging on about how important it is. But where is the money? And why hasn't it been released?

You will see that DEST are a signed up member of the AMR alliance -

For a fund with the name 'action' in it - it seems surprising how little is actually being done.

Perhaps it should be renamed 'letstalkaboutAMR.com'?

[ttlance] 23/6/2021 16:36

I have emailed the company for any kind of guidance as to when we are likely to expect news of a partnership. Not expecting to receive a reply, so won’t hold my breath

[sev22] 23/6/2021 12:04

I think it is being walked down for someone to load, or maybe the market makers want stock because they have knowledge of pending news.

The fundamentals around this company have not changed one bit and it is still under the radar of many investors. Onwards and upwards.

[gbjbaanb] 23/6/2021 10:09

You say a drift, it's gone from 180p to 120p, a third down! That's a significant drop, not a drift.

[malcolmmm] 23/6/2021 07:34

Thinking of getting back in at these levels

[gaiusgracchus] 22/6/2021 22:25

Think the share price drift is a combination of boredom/no major news, which is nothing to worry about, and concerns that the DEST management are not commercially savvy enough, which is to be worried about. In my opinion. From my point of view I have zero interest in listening to another presentation extolling the science. If they aren't talking about funding/partnerships/commercialization then I'm sorry but not interested.

[sev22] 22/6/2021 11:38

This has continued to drift downwards on low volumes since the excellent XF-73 results. There are now two world class phase 3 trials in preparation for XF-73 and M3.

Large pharma partner discussions must be ongoing to get these trials funded and started. We should get an announcement any day now.

The company did confirm that timelines remain intact for both M3 and XF-73, and there was also the G7 meeting highlighting the global threat of AMR.

Equity Development's fair value remains at 335p/ share in this latest research note which was released when the share price was at 152.50p just over two weeks ago:

[sev22] 18/6/2021 10:50

I wonder whether we will get some positive feedback from this event next week?

Destiny Pharma (@DestinyPharma) Tweeted: Join Destiny Pharma at #BIODigital2021 on 10-11 June and 14-18 June seeking commercialisation partners for our two Phase 3-ready assets.

Listen to our presentation from June 10 at
#innovation #pharma #conference #biotech #infectionprevention

[sev22] 17/6/2021 10:41

Destiny Pharma welcomes re-introduction of Pasteur Act to US Congress.

[gbjbaanb] 16/6/2021 01:44

I've just had a look at that link and DEST are not on the list for today. They have been bumped to the 6th July.

[sev22] 15/6/2021 18:09

DEST are on first tomorrow evening.

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[ttlance] 15/6/2021 14:36

Can anyone shed any light as to why this stock is so lowly valued (£78 mill)? When they have 2 great potential products entering phase 3 trials.

[gbjbaanb] 15/6/2021 12:00

He sold 0.6% so I don't exactly consider that anything other than getting himself a new TV and a few more toys. I think he still owns 10%

[malcolmmm] 15/6/2021 11:42

I did sell out but they look too low now ,looking to buy back in, most directors sell at some point as we all do