Destiny Pharma finalises plans for next study of its lead asset

Biotechnology company Destiny Pharma has finalised plans for phase-three studies of its late-stage clinical asset ‘XF-73 Nasal’, it announced on Wednesday.

The AIM-traded firm said discussions had been held with both US and EU regulators, as well as clinical key opinion leaders.

It was proposing two phase-three studies in two major surgery types to provide a broad surgery label for XF-73 Nasal, with the programme planned to deliver an approvable data package for both US and EU authorities.

XF-73 Nasal was targeting peak sales potential of $1bn in its major target markets, with phase-three patient recruitment set to start as soon as 2024, subject to a partnering deal being struck in 2023.

“Having finalised our phase-three strategy for our primary indication of SSI prevention, we are ready for the next steps in executing our well-defined and validated strategy,” said chief medical officer Dr Yuri Martina.

“I am excited to see this compound approaching its final clinical trials and move toward market approval.

“If successful, XF-73 Nasal will deliver a much needed, novel treatment to help prevent surgical site infections through nasal decolonisation, which is best practice in hospitals across the world and an important unmet medical need for certain patient populations and surgeries.”

At 1515 GMT, shares in Destiny Pharma were up 2.73% at 33.9p.

Reporting by Josh White for Sharecast.com.