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Neil Clark & Shaun Claydon of Destiny Pharma: Significant progress in H1 will continue in 2022 & beyond

11:31, 8th September 2022
AudioBoom | https://audioboom.com/posts/8154037-neil-clark-shaun-claydon-of-destiny-pharma-significant-progress-in-h1-will-continue-in-2022

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Neil Clark CEO & Shaun Claydon, CFO of Destiny Pharma #DEST Follow | DEST & reflect on the progress they have made on their late-stage clinical assets in H1 & are confident of further advancement toward major milestones in 2022 and beyond.

Financial highlights

· Cash and short term deposits at 30 June 2022 of £8.4 million (30 June 2021: £7.1 million; 31 December 2021: £4.6 million).

· Net assets of £10.7 million at 30 June 2022 (30 June 2021: £10.2 million; 31 December 2021: £7.5 million).

· Expenditure on R&D in the period of £2.5 million (half-year 2021: £2.0 million; full year 2021: £3.7 million).

· Company funded through to mid-2023.

Operational highlights

NTCD-M3 for the prevention of C. difficile infection (CDI) recurrence

· Finalising preparations for the pivotal Phase 3 clinical trial of NTCD-M3 and good progress made on partner discussions to help co-fund studies and lead commercialisation.  

· Positive scientific advice received from European Medicines Agency (EMA) on proposed Phase 3 study design.

· US and European market research confirms substantial market opportunity for NTCD-M3.

· Results from US research support the use of NTCD-M3 following all commonly used antibiotic treatments.

· Positive new data published on the absence of toxic gene transfer to NTCD-M3 in the peer-reviewed journal, Public Library of Science One (PLOS ONE).

XF-73 Nasal for the prevention of post-surgical infections

· US Food and Drug Administration (FDA) has clarified Phase 3 and US registration pathway for XF-73 Nasal gel for the prevention of post-surgical staphylococcal infections.

· EMA feedback on XF-73 Nasal gel Phase 3 programme identifies a clear route through European approval as a ground-breaking hospital infection prevention product.

· Global Phase 3 study design progressing following discussions with regulators and key opinion leaders.

· External European market research reports show that XF-73 Nasal gel is seen as a very promising alternative to the current standard of treatment, mupirocin, by both clinicians and payers. The study suggests XF-73 has the potential to replace the current standard of treatment as the preferred pre-surgical nasal decolonisation agent.

To read the full RNS click here

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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