A CEO stepping down is not normally regarded as a positive news event but when the incoming CEO has more experience, in relevant sectors to the business, it could just be.
The share price of the Destiny Pharma dropped by 11% when it’s CEO recently stepped down but the new CEO, Dr Debra Barker, has worked at Novartis, Roche, GSK and most recently in C-Suite roles at Polyphor and Polyneuron. At Novartis Dr Barker held several senior roles including Head of Development for Anti-Infectives, Immunology and Transplantation. Dr Barker was also the medical lead for Swiss based anti-infective specialist Polyphor's highly successful IPO on the SIX Swiss Exchange.
Also last week the company announced they were attending a major international biopharma conference looking at the potential partnering opportunities. They have previously stated a partnering deal on their 2nd asset will happen this year.
The resignation of the Neil Clark ,the previous CEO, has had no effect on the broker targets for the company. Three separate brokers have share price targets that average 285p, on this company, which is currently 850% higher than the current share price.