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Destiny Pharma funded to 2021 with XF drug making good progress

By BFN News | 08:50 AM | Monday 23 September, 2019


Destiny pharma announced a strong cash position and term deposits of £9.1m with the company funded to 2021. The loss for the period narrowed slightly from £2.3m to £2.1m with no revenue generated. Destiny Pharma's Phase 2b clinical trial has now started enrolling 200 surgical patients in sites in the US and Europe with results expected later in mid-2020. Neil Clark, CEO of Destiny Pharma, commented: 'Destiny Pharma has made good progress in the first half of the year and we are very pleased to have started recruitment of patients into the important Phase 2b study of our lead drug candidate, XF-73, for the prevention of post-surgical hospital infections. This is a major milestone for the Company and we look forward to reporting results in mid-2020 with patient recruitment planned to complete in Q1 2020.' 'We remain very positive on the clinical need and commercial opportunity for XF-73 in the hospital setting which we estimate in the US alone to be peak annual product sales of $1 billion. Our discussions with potential US hospital clinical trial sites and new, independent US studies confirm the increase in the decolonisation of nasal carriers of Staphylococcal aureus in the US as "best practice" ahead of major surgeries.' At 8:50am: (LON:DEST) Destiny Pharma Plc share price was 0p at 40.5p Story provided by StockMarketWire.com

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