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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.
I WILL WAIT a bit
Have not looked for a while any problems here if not its a buy will quick check
Ready for strong reversal.
I wonder if the CEO has something left field up his sleeve re XF-73 Nasal? Otherwise the M3 switch looks an odd decision, from DEST's perspective the best time to switch to a solid formulation would have been post Phase 3 but before market release giving them plenty of time in parallel with Phase 3 for preparation and disolution equivalence testing. Does the CEO really think that using a liquid formulation might actually impact Phase 3 through non compliance??
This can do 100% any time.
Selling not done yet this will be up about 30% on the day when it stops
Time to be in to win.🚀🚀🚀
You will always get the egotistical people like Alamo saying I was right to sell (even though he’s actually worse off due to HEMO) when a SP is dropping but mark my words they’ll disappear when it starts rising and it will!
I have been around long enough to have felt the pain in stocks that have gone on to 5 bag and some I’ve got impatient sold and then they have bagged that’s even more gutting!
I also have no problem cutting a stock I don’t believe in but for me I very much still believe in the story and the CEO here, yes it’s frustrating and painful watching it drop but you have to just switch off and ride it out or sell if you don’t believe.
I’ve never been in a company where they have addresses a fall in SP via an RNS and as JH pointed out to me CT doesn’t do interviews via proactive etc so it is not unusual that we haven’t heard anything. The accounts are due I think in April so that will tell us where we are in terms of a deal if talks are still ongoing in the forward looking statement and if still cashed up to Q1 25.
You only have to look at the chart to see how quickly it can go up and down and mms are happy to keep driving it down if people keep selling and that’s all that’s happening.
I think the Mcap is getting silly for the assets we have at the stage they are at and soon or later it will start getting bought up IMHO GLA