Destiny Pharma PLC (AIM:DEST)’s interim results revealed the company had made ‘very good operational progress' across multiple late and early-stage research and development programmes, finnCap has said.
The company’s corporate broker noted that the drug developer was ‘well into discussions with potential licensing partners’.
finnCap lowered its year-end loss forecast, and increased the net cash estimate. However, its price target for Destiny of 306p, remained unchanged.
That’s a significant premium to the current 37.3p the stock is changing hands for.
Destiny is developing the next generation of antiinfectives.