RE: The Synairgen Story18 Jan 2022 01:22
@Manifesto, Synairgen raised £80m in Oct 2020.
The gross proceeds were to:
1. fund a Phase III clinical trial of SNG001 in c. 900 COVID-19 patients (note on c 620 actually required, surplus funds available).
2. fund SNG001 manufacturing and device scale up producing c. 100,000 treatment courses per month in 2021
3. generate further data to support SNG001 clinical development, manufacturing processes and regulatory activities;
4· strengthen the balance sheet for potential partnering discussions with regards to the SNG001 opportunity, working capital and fees
I've mentioned this on the past on other platforms; there is plenty left in the bank (only 620 patients), and manufacturing scale up is already completed or near completion. With enough capital to put a large amount of the cogs in place.
Regulatory news will follow a rough outline:
. First RNS = results + hint of partnerships (see Point 4 above) + mention of EUA
.Second RNS which will detail manufacturing in the pipeline and partnerships for full distribution.
. Third RNS will confirm EUA.
As Richard pointed out, we are talking months not years.