UK's Destiny Pharma gains on nearing marketing deal for lead asset
22/12/2022 14:17
** Shares of Destiny Pharma Plc DEST.L rise as much as
13.4% to 38p
** Stock touches highest level in over a month; set for best
day since July 29, if gains hold
** The biotech firm focused on development of
anti-infectives says it expects to secure a marketing partner in
early 2023 for NTCD-M3, its lead asset for prevention of
recurrence of colon inflammation caused by bacteria
clostridioides difficile
** Co says it entered exclusive talks with a U.S. pharma
firm and that parties are working to close collaboration
** DEST adds talks underway on finding marketing partners
also for its XF-73 Nasal, a nasal gel for prevention of
post-surgical infections, with a target of securing partnership
in 2023
** Including session's gains, stock has slumped ~62% YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))