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UPDATE 1-Synairgen shares soar as drug shows lower risk of severe COVID-19 cases

Mon, 20th Jul 2020 09:10

(Adds details on the trial, shares)

July 20 (Reuters) - Synairgen Plc said on Monday
its drug helped reduce the risk of severe cases in hospitalised
patients with COVID-19, according to data from a trial of more
than 100 people in the United Kingdom, sending its shares
skyrocketing.

The trial, which used interferon beta, showed that patients
who were given Synairgen's formulation had a 79% lower risk of
developing severe forms of the disease compared to placebo.

Patients who received the drug, SNG001, were more than twice
as likely to recover from COVID-19 as those on placebo, the
company said.

Shares of the company nearly tripled to 97.50 pence, up from
a Friday close of 36.50 pence.

The company said that no deaths were reported in patients
treated with SNG001, while three people died after being
randomised to placebo.

The measure of breathlessness was also markedly reduced in
patients who received the drug, Synairgen added.

Interferon beta is a naturally occurring protein, which
regulates the body's antiviral responses.
(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by
Bernard Orr)

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