RE: Clinical phase 1 @ just £21 mill mkt cap…3 Apr 2024 12:43
Destiny Pharma look decent, but they are not comparable, their pipeline: https://www.destinypharma.com/pipeline/ is creams and treatments to reduce the chance of bacteria becoming resistant or getting infected. We are not talking cures for cancer which attract fees of several 100k per patient treated. That is NOT to dismiss the importance of such work, in particular preventing bacterial resistance is very important, but who is going to pay for it?
So you have products that really are nowhere near as valuable and they dont own the candidates any more, they have already licenced: an initial upfront payment of $1m; success-based development milestones of $19m; Substantially higher payments eventually when it gets NDA.
Sorry but CAR-T treatments dont licence for £1m up front and then £19m until its approved... They are 10s of millions up front leading to 500m+
Number of shares in issue is 1000000000% irrelevant, SP is 1000000000000000000% irrelevant, what you compare is market valuation, for DEST its £25m for Hemo its £21m. Not a huge gap, but when you consider that Hemo own 100% of CAR-T, CBR, CDX and Hu-PHEC? And EACH of those is an oncology CURE not a preventative cream or ointment? The disparity is clear.