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14 April 2021 | 08:38am
StockMarketWire.com - Biotechnology company Destiny Pharma reported wider annual losses on increased costs amid efforts to progress its nasal gel, used in the prevention of post-surgical infections, through a clinical trial.
For the year ended 31 December 2020, pre-tax losses widen to £6.5 million from £5.5 million year-on-year.
Research and development costs rose to £792,343 from £621,447. Our key focus during 2020 was on progressing our lead XF-73 nasal gel programme through a Phase 2b clinical trial, which accounts for the majority of our R&D spend during the year, the company said.
Looking ahead, the company said it had cash runway through to Q4 2022 after closing £10.4 million equity funding round in December to fund the NTCD-M3 acquisition.
15 March 2021 | 09:49am
StockMarketWire.com - Biotechnology company Destiny Pharma said it had entered into an agreement under which the US government s National Institute of Allergy and Infectious Diseases would evaluate the formulation of the company s drug to prevent postsurgical staphylococcal infections.
Destiny Pharma would utilize preclinical National Institute of Allergy and Infectious Diseases services programme to complete the preclinical safety studies that would support the planned clinical development in serious wound infections.
Destiny Pharma will provide the XF-73 formulation to be tested in these preclinical studies and the project was planned to complete in 2022.
At 9:49am: [LON:DEST] Destiny Pharma Plc share price was 0p at 68.5p
+44 (0) 203 705 9330 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 is in a 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.