Destiny Pharma

LN: DEST

£34.3m market cap

78.5p last close

Destiny Pharma is dedicated to the discovery, development and commercialisation of new antimicrobial agents that have unique properties to improve outcomes for patients. Destiny’s first product, XF-73, is about to start a US Phase IIb clinical study.

Investment summary

XF-73, Destiny Pharma’s new antimicrobial, is in Phase IIb for the prevention of staphylococcal surgical infections and seems to be in the right place at the right time. Recent press reports suggest that in most developed markets, cutting screening for nasal staphylococcal carriage before surgery was associated with patient deaths. Another recent paper highlighted the mortality benefit of nasal decolonisation.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2016A N/A N/A N/A N/A N/A N/A
2017A 0.0 (2.5) (3.2) (8.45) N/A N/A
2018E 0.0 (6.8) (7.3) (14.28) N/A N/A
2019E 0.5 (8.3) (8.3) (15.29) N/A N/A
Last updated on 19/03/2019
Industry outlook

While there are valid commercial criticisms of antibiotic development, the growing problem of antimicrobial resistance is making non-dilutive and alternative funding methods available to make antimicrobial drug development easier on companies. In addition, resistance has not been observed against Destiny’s agents and their new preventative indications make antibiotic stewardship less of an issue.

Last updated on 19/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 11457
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (5.4) 18.1 (35.9)
Relative* (6.6) 8.1 (36.6)
52-week high/low 129.0p/61.5p
*% relative to local index
Key management
Neil Clark CEO
Shaun Claydon CFO
Dr. William Love Founder and Chief Scientific Officer