Destiny Pharma – Audited results for the year ended 31 December 2022

Exclusive North American partnering deal worth up to $570m plus royalties secured for NTCD-M3

Phase 3 development plans finalised for XF-73 nasal following scientific advice from FDA and EMA

XF-73 dermal commenced clinically enabling safety study sponsored by US Government’s NIAID

New XF research projects initiated in cystic fibrosis and oral mucositis

Leadership strengthened with appointment of Chief Medical Officer and two Non-Executive Directors

Balance sheet strengthened through £7.3 million fundraise post period end


Brighton, United Kingdom – 13 April 2023 – Destiny Pharma plc (AIM: DEST), a clinical stage innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections, announces its audited financial results for the year ended 31 December 2022.

Financial highlights

·       Loss before tax of £7.7 million (2021: £6.3 million)

·       R&D expenditure of £4.9 million (2021: £3.7 million)

·       Other operating expenses (excluding share based payment charge) of £2.5 million (2021: £2.3 million)

·       £6.5 million gross proceeds from Q1 2022 equity fundraise

·       Year-end cash and cash equivalents of £4.9 million (2021: £4.6 million)

·       Post period equity fundraise of £7.3 million (gross)

·       Cash runway extended to H2 2024

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