Financial and corporate highlights
Successful equity fund raise of
Strong year end cash position with cash and term deposits of
Increase in R&D expenditure to
Cash runway extended to Q4 2022 as a result of equity fund raise and careful management of operational activities
Operational highlights
Phase 2b clinical trial: XF-73 nasal gel for prevention of post-surgical infections
Patient recruitment successfully completed in December
Positive top-line results reported in
In discussion with
NTCD-M3 for prevention of C. difficile infection recurrence
Acquisition of global rights to NTCD-M3, a Phase 3 ready asset for prevention of difficile infection recurrence completed during Q4 2020
Protocol for Phase 3 clinical study agreed with FDA
Commencement of key work required to prepare for a Phase 3 clinical study to be ready to start in 2022
Professor
Major new contract signed with leading biotherapeutics manufacturing company for production of Phase 3 clinical trial doses
SporeGen COVID-19 collaboration
Expands Destiny Pharma's novel pipeline targeted at preventing infections with novel biologics/microbiome approach
Earlier pipeline and research projects
Research projects with
New grant awarded by National Biofilms Innovation Centre (NBIC) to fund a second research collaboration with
Post period highlights
Brazilian patent granted for XF-73 nasal gel
Agreement with the
Professor
'Destiny Pharma has delivered a very strong performance in the last 12 months and we look forward to further progress this year. We have delivered excellent Phase 2b data from our XF-73 nasal gel clinical study for the prevention of post-surgical infections and also expanded our pipeline through the acquisition of NTCD-M3 - a Phase 3 ready project targeting C. difficile gut infections. The Company has also progressed its earlier pipeline and been awarded additional grant funding including a
Webcast and Conference Call
Destiny Pharma will host a webcast presentation followed by a live Q&A conference call for analysts and investors today, Wednesday
The webcast of the presentation will be available here and available on the Company's website at https://www.destinypharma.com/
For details of the Q&A conference call, please contact DestinyPharma@optimumcomms.com
This announcement has been released by
Contact:
CEO
CFO
T: +44 (0) 1273 704 440
E: pressoffice@destinypharma.com
Mary Clark
T: +44 (0) 203 174 1789
E: destinypharma@optimumcomms.com
finnCap Ltd.
Nominated Advisor & Joint Broker
Corporate Finance
Corporate Broking
T: +44 (0) 20 7220 0500
Joint Broker
T: +44 (0) 203 705 9330
About Destiny Pharma
Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and also XF-73 nasal gel, which has recently completed a positive Phase 2b clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SPOR-COV, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF research projects.
For further information on the company, please visit https://www.destinypharma.com
Forward looking statements
Certain information contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance, constitutes 'forward-looking statements'. These forward looking statements may be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'anticipates', 'projects', 'expects', 'intends', 'aims', 'plans', 'predicts', 'may', 'will', 'seeks' 'could' 'targets' 'assumes' 'positioned' or 'should' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group's results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the company believe that the expectations reflected in these statements are reasonable, but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group's control. Forward looking statements are not guarantees of future performance. Even if the Group's actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods.
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