RE: FT mention of synairgen13 Nov 2020 11:54
Synairgen soars after positive news from drug trial
Shares in biotech company Synairgen soared on Friday morning, after positive data from its trial of an immunosuppressant drug in Covid-19 patients was published in a leading medical journal.
Aim-traded Synairgen has been monitoring the effects of SNG001, an inhaled version of the drug interferon beta in hospitalised coronavirus patients. The drug is given to patients via a nebuliser.
Phase two or mid-stage trial data detailed in the Lancet Respiratory Medicine journal showed that SNG001 gave patients “greater odds of improvement” and they “recovered more rapidly” from Covid-19 infection. Trial participants, numbering 101 in total, were randomised. Some received the drug and some received a placebo.
Synairgen, which was spun out from Southampton university, said in July that it had observed positive top-line results from its initial SNG001 trial. Further details were wrapped into September’s half-year results.
The trial results “confirm our belief that interferon beta, a widely known drug approved for use in its injectable form for other indications, may have the potential as an inhaled drug to restore the lung's immune response and accelerate recovery from Covid-19”, said Tom Wilkinson, a professor at the University of Southampton and lead trial author.
The group’s share price climbed by more than a quarter on Friday to 130p, taking its market value to £258m.
The shares have rocketed this year, buoyed by updates on the SNG001 trial. They began the year at under 6p.
They were, however, badly hit earlier this week after news of a major vaccine breakthrough sparked concerns that the need for its virus treatment could wane.
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