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Destiny Pharma (DEST) Share Price Gains Following Positive Update On NTCD-M3

Updated: 2 Jun 2021

Destiny Pharma's share price is gaining on Wednesday following positive with its lead clinical programme, NTCD-M3.

NTCD-M3 is a novel microbiome therapeutic being developed by Destiny to reduce the recurrence of C. difficile infections (CDI) in the gut.

The company said it feels the microbiome therapeutic has the potential to become the leading treatment for CDI “as it appears to deliver clear advantages to both existing CDI treatment options and also to those currently in clinical development.”

They are currently planning for the single Phase 3 clinical study that needs to be completed before submitting marketing authorisation applications in the US and Europe. The Phase 3 clinical study remains on schedule to commence in 2022.

The London listed company has also begun discussions with potential licensing partners and collaborators and is encouraged by the level of interest in the programme.

DEST
Source: IG

Neil Clark, Chief Executive Officer of Destiny Pharma, commented: “We have made significant progress since closing the £10.4 million equity funding in December 2020 that enabled the NTCD-M3 acquisition.

“NTCD-M3 is a potential breakthrough in CDI treatment targeting a market that is forecast to grow to $1.7 billion by 2026 and is a very valuable, late-stage asset. We look forward to making further progress this year and to finalising the Phase 3 study design and manufacturing set up.”

Shortly after the open in London, Destiny Pharma's share price rose 15p to 161.50p. It is currently sitting at 149.26p, up 1.71%.

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