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I do wonder sometimes, these share price drops are crafted, so insiders can sell high and buy back low!
What makes you think, or how do you know there was two big sellers?
Both sellers are out. Its current buyers and sellers that are now setting the price, subject as always to the games of the market makers.
Yes volmer, the big seller looks like they are done, or not willing to sell below 30
Krull, I think so but you may need some sun cream when you come out.
Is it safe to get back into water yet!
Waiting for the impatient to sell before it moves up.
Don't worry, everyone will be buying when its 50p plus.
Big spread today. They know there will be small buying due to the Mail and will probably pull the price back down tomorrow.
Nice one.
Joanne Hart tips a few companies to purchase for the new British ISA and DEST is one of them. This is the second time she has tipped DEST as a buy.
I can’t access that unfortunately Sajy…what’s the gist of it mate?
Dest is tipped in the Mail again, see link below.
newspaper.mailplus.co.uk/data/3991/read…
Just noticed the final paragraph of my post of yesterday at 16.05:
"I believe CT has stated on the record that the next step is to get XF-73 into phase 3, so I agree that a takeover at this stage is highly unlikely but, as I've posted before, deals on phase 3 ready products have already been signed by GSK and AZ this year but not in this market sector."
Folk have probably deduced what I should have written but nonetheless "deals on phase 3 ready products" should have course read "takeovers".
I was thinking in terms of the company issuing new shares and the pharma acquiring these for cash. Its a win/win because DEST strengthens its balance sheet and has cash in the bank for working capital for a few years and the pharma have a significant stake in a company that is likely to grow in value by virtue of their partnership with DEST. And this share issue would be tied into the XF-73 Ph. 3 and commercialisation deal.
Very happy for someone to point out flaws in my argument!
I'm not sure how your option 4 would work beyond my option 2, because in effect the gifting of 9.5 million shares (circa 10%) as part of a deal at anything above market price is no different to them paying the difference in market price and your broker price of £2.75. To make that clearer, and only as an example, they pay say £5 million for the platform, plus a royalty and commercialise the product upon a successful phase 3 trial. If the shares are trading at say 75p at the time the deal is struck, then they might just as well pay the extra 9.5 million x £2. Presumably if any kind of share deal was struck then new shares would have to be issued, other wise where would they come from ? I hope that makes sense. I suppose it boils down to practicalities of such a deal and whether they would want a slice of Destiny, having acquired their lead platform.
I believe CT has stated on the record that the next step is to get XF-73 into phase 3, so I agree that a takeover at this stage is highly unlikely but, as I've posted before, deals on phase 3 ready products have already been signed by GSK and AZ this year but not in this market sector.
Noix, I think there is an option 4; License deal for whole XF-73 platform to include phase 3 trial and commercialisation plus a cash investment for a significant minor equity stake (e.g. 10%?). I think this investment would be at a price nearer the broker valuation (£2.75) than the current market price (£0.33).
Don't know which option CT is aiming for. I think a full takeover at this stage is unlikely because of the difference between the valuation that our major shareholders would accept and the price a buyer would be prepared to pay, given there is still risk attached to our major assets. However, a full takeover would be the cleanest solution, if a price could be agreed.
Current price
32.12-32.65p
Ok…thanks.
OD
As others have pointed out, under normal circumstances, with a cash runway to Q1 2025, there shouldn't be any need for cash until I'd say around the late summer. That said who knows what's going to come out of the woodwork.
The M3 news on the face of it, involves a slight delay and look what happened there.
The buyers are certainly out today, perhaps a tip somewhere, such as JW buying again :)
Any of them 3 sound good noix…especially the third option. IYHO do you think there’s any chance of a placing or does their cash runway til next year exclude that?
The only way is UP Now!
Tr1 any time and 🚀🚀
Tillerman
What left field event did you have in mind?
To my mind the options are:
1/ License deal for XF-73 nasal to include phase 3 trial and commercialisation.
2/ The same but including the whole XF-73 platform
3/ A take over of the whole Company
If anyone has any other thoughts, I'd be pleased to hear them.
I don't really understand your comments about M3.
On the face of it there's a 6 month delay and although CT appears to want to make the decision his property, as I posted previously, this was being worked on nearly a year ago. In saying that my understanding is that changing to a "solid dose formulation" involves changing manufacturer and the drug will be in a powder filled capsule rather than a liquid filled one. The announcement on 31st January was lacking in detail (on the above point alone) and served as a catalyst for a sell off of the Company's shares. If the FDA are happy with an equivalence test and unless I've missed it, why was this not mentioned in either the September or January releases.
Looking at all angles, one could be forgiven for believing that Tovey wanted the share price lower, but why ?
Or perhaps he just wanted to p*ss off Sebela, perhaps hoping they would walk away. The market certainly wasn't happy with the deal at the time and perhaps he agrees with the market.
Opaque doesn't do it justice.
The seller looks like done.