Destiny Pharma Seeks Private Future for Drug Trials

Destiny Pharma plc (GB:DEST) has released an update.

Destiny Pharma PLC, a biotech firm focused on developing anti-infection drugs, has announced plans to delist from the AIM market and become a private company, subject to shareholder approval. The strategic shift aims to secure the capital required to complete Phase 3 trials of their lead drug candidate, XF-73 Nasal, as public market funding proved insufficient. The company has warned that failure to secure private capital could lead to its liquidation, despite efforts to improve the drug’s market potential and reduce trial costs.

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