Synairgen PLC - Southampton, England-based drug discovery and biotechnology company - Records a pretax loss of GBP57.9 million in 2021, widened from GBP17.7 million in 2020, as research and development costs jump to GBP52.9 million from GBP15.5 million. Further, administrative expenses more than double to GBP5.0 million from GBP2.2 million. Explains this with its phase 3 Sprinter trial that started patient recruitment in January 2021. The trial is for SNG001, an inhaled drug for the treatment of Covid-19. Says the remainder of the research and development expenditure was used for upscaling SNG001 manufacturing development activities and procuring long lead time components.
Plans to trial SNG001 as a broad-spectrum, virus-agnostic treatment in patients hospitalised with a range of viruses such as influenza, respiratory syncytial Virus and para-influenza.
Current stock price: 29.10 pence, down 16% on Wednesday
12-month change: down 77%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Synairgen (SNG)