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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Destiny Pharma Plc | LSE:DEST | London | Ordinary Share | GB00BDHSP575 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 18.25 | 18.00 | 18.50 | 18.25 | 18.00 | 18.25 | 224,600 | 09:20:52 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Pharmaceutical Preparations | 0 | -6.5M | -0.0683 | -2.67 | 17.39M |
Date | Subject | Author | Discuss |
---|---|---|---|
12/4/2022 07:50 | Introduction to a full research note on the House Broker's web-site (finncap.com)*free access. DESTINY PHARMA (DEST): CORP Full-year results – looking to partnering deals Destiny’s full year 2021 results contained no surprises given our recent update that accompanied its fundraising in March. The company reported a statutory pre-tax loss of £6.3m (adjusted loss of £5.9m vs. our £6.1m estimate) driven by a 4% decrease in operating costs to £6.3m. Period-end cash of £4.65m (vs. £9.7m at 31 December 2020), together with a £6.5m fundraise in March 2022, provides a runway into mid-2023. With several companies active in the NTCD-M3 data room, we look forward to the company securing a partner to co-fund the Phase 3 trial. Final regulatory discussions (with FDA and EMA) for the Phase 3 trial design are due to be finalised in H1 2022, which should catalyse partnering discussions. We reiterate our rNPV SOTP target price of 306p, which implies an EV of c.£220m, also recognising the upside potential given the substantially higher valuations for companies focused on CDI recurrence (e.g. Seres Therapeutics, which is valued at c.£0.5bn, but arguably with less compelling profiles than NTCD-M3). | sev22 | |
04/4/2022 16:21 | Interview with CEO Henry Skinner: | gb904150 | |
04/4/2022 16:20 | Disappointing price action here but fair enough with the lack of news/progress. I see the AMR action fund have finally made their first investments: with another $100m to deploy in the next year. Shame they haven't found DEST yet! And that for all those criticisms of nobody doing anything to fight AMR.....it's taken the AMR action fund more than 2 years to get their act together! | gb904150 | |
04/4/2022 14:45 | So in total Cann have sold 12002 shares in Dest. | wh1spa | |
29/3/2022 10:02 | Risked fair value | t0pgrader | |
29/3/2022 08:55 | 45% of open offer shares being taken up (beyond the £6m taken by IIs and HNWIs) is much higher than I was expecting, for the ordinary common shareholder offering. I think it shows great confidence in the company and in the undervaluation of the current share price. | sicilian_kan | |
29/3/2022 07:54 | Thanks Edmonda, you beat me to it (just) 🙂 | timbo003 | |
29/3/2022 07:39 | After the GM approvals for issue , new research note out from Equity Dev updating model and looking at competitors problems in CDI treatments. Fair value now seen at 289p/share. Read note / hear summary at | edmonda | |
09/3/2022 11:00 | I bought some at 50p as wellGreat risk reward here | nico115 | |
09/3/2022 09:47 | I applied for an allocation in the placing and was scaled back to 55% of the application. I first heard about the placing about 2.5 weeks ago, the first indicative price was 65p, which then dropped to 60p last week, but I was astonished to see the final price at 50p. I suspect the open offer will be over subscribed, but alas, I might have to duck that as I note that the OO shares will not be EIS qualifying, which means if I apply it might mess up the EIS status of the placing shares ☹️ | timbo003 | |
09/3/2022 08:03 | Also comment out from Equity Development : the fundraising at 50p/share includes an Open Offer that could raise up to £7.0m for @DestinyPharma . Use is for its 2 lead assets and to strengthen negotiating position with potential partners. New note out here, pending raise closure: | edmonda | |
09/3/2022 07:54 | Morning note from House Broker finnCap Group (full write up at finncap.com): DESTINY PHARMA (DEST): CORP Placing raises £6m with Open Offer up to £1m. Destiny Pharma has raised £6m with up to £1m possible via an Open Offer to progress its two lead assets towards the start of Phase 3 clinical studies and advance commercial partnership discussions. These funds are expected to take the company to key value inflection points (e.g. a partnering deal for the Phase 3 study and commercialisation of NTCD-M3 and progression of XF-73 to a point where we have final clarification from the FDA/EMA as to Phase 3 study design), which is considered a requisite for completing any partnership deal. Both milestones are expected to be reached during 2022. We introduce forecasts for FY 2022, which indicate a net loss of £8.4m. Based on the sum-of-the-parts risk-adjusted NPV and reflecting the share dilution, we reduce our target price to 306p, which leaves substantial upside from the key value inflection points expected in 2022. | sev22 | |
08/3/2022 15:40 | The market is certainly there with the real possibility of getting these 2 assets through, especially with the excellent phase 2 results. I'm starting to question Neil Clarks credibility however as it's difficult to take details in the RNS's and his interviews at face value. | ttlance | |
08/3/2022 15:24 | It could be that the potential partners negotiating position is much stronger if DEST are short on time and funds. Or that the commercials aren't as compelling....but previous presentations suggest they are. The global importance of AMR suggests they are. e..g from DEST slides (Feb 2021 presentation). - cost of complications due to post surgical infections approx $10bn. - XF-73 target market peak US sales opp $1bn Mupirocin effectiveness is waning. Not effective on all strains, encourages AMR build up, is an irritant....etc.... C-difficle: 29,000 USA deaths a year $6bn healthcare burden. $500m NTCD-M3 peak sales opportunity, of which $200m in USA. But DEST have slipped on their timeline now....so it depends on what they are now going to achieve. | gb904150 | |
08/3/2022 15:14 | Any ideas as to why potential partners haven't been forthcoming with committing to a partnership? The only thing I can think of is, the partners are coming to the conclusion that the commercials don't stack up against the risk? | ttlance | |
08/3/2022 14:57 | I think you're right. It should have been straightforward and quick to find partners given the success of the Phase 2b trials and the economic backdrop (cheap money, long duration, buoyant biotech) and DEST seemed optimistic that was the case. Add to that the scandalous situation with things like the where governments, health policy leads, scientists and so on jawbone about the importance of tackling anti microbial resistance, but when it comes to actually doing anything....diddly squat. That fund was supposed to be making its first investments in Q3 2020. With promises to 'invest more than US$1 billion'. For all the big talk of the dangers AMR presents to the human race there is surprisingly little done about it.....or at least to fund something being done about it. The AMR action fund should be ashamed at their lack of progress. As to the RNS....I think DEST have acknowledged for a while now that NTCD-M3 is the further along and more likely to progress first. I don't know why that is. It seemed to me like more progress was being made with XF-73 before NTCD-M3 even got acquired. It's not entirely clear why they pivoted but it has not been beneficial to shareholders. Originally the acquisition of NTCD-M3 seemed to be to reduce risk - have 2 products at the stage of looking for phase 3 partners. But why should it have been to the detriment of XF-73 when AMR is such a global topic? My thoughts are that XF-73 got put on the backburner in anticipation of securing funding from the AMR action fund. Yet 2 years later, the fund appears to have achieved nothing and we are still waiting. In short....in my opinion, the AMR action fund has led to significantly less action on fighting AMR. | gb904150 | |
08/3/2022 13:39 | GB - Totally agree. What's making me think they didn't do the fundraising earlier was that they were too optimistic with finding partnerships. As time has gone by it's clear that they have been having difficulty finding a suitable partnership. Anyone read the RNS? to me it reads that they are just looking for a partnership now for just the NTCD-M3 asset? | ttlance | |
08/3/2022 13:25 | I'd say this was spectacularly poor timing by the BOD. The dilution could have been much less. The time to raise funds was last year in a strong pharma/biotech environment when with a 150p share price there was excitement around finding partners for phase 3 for XF-73 and NTCD-M3. Instead they held out for as long as possible leading to being low on funds and having to raise in a terrible market. £7m would have been a small fundraise in a position of strength and with minimal dilution at that point. I think DEST has great prospects and a great team but this was really badly handled. Bill Love has a big stake at about 10%. Perhaps the board should hold a bit more too so they keep aligned with shareholders. | gb904150 |
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