LONDON, UK / ACCESSWIRE / December 10, 2019 / With the US Phase IIb study results now expected around mid-2020, we have examined the study design and our expectations for the results. Separately, we have looked beyond the current study and indication to the application of Destiny Pharma's products in infections associated with biofilms. Our valuation is £70.2m, or 160p per share.
We value Destiny at £70.2m, or 160p per share, reduced from £83.2m or 191p per share. This is driven by reduced pricing assumptions ($400 per XF-83 course in the US from $450), and a delay in our expected US launch (2023 from 2022), based on company guidance. However, this is still well above current market valuations, which imply pricing and probabilities of success well below historical standards.
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