If I got it right, over 53% of shares in sng are in the hands of PIs. So, I imagine, despite what has been said by a poster a while back, institutional buying can and will be happening in the 10,000 and 20,000 tranches!
Message from Richard Marsden on youtube to shareholders to watch out for the "readout" to arrive on COPD and Covid trials can be seen about 18:20 min into the interview about a month ago, just Google videos and type:
Synairgen awaits Covid-19 treatment clinical test results in July
The main point on the statement is this: "..from the 109 COPD patients with confirmed viral infection generates useful safety, biomarker and potentially efficacy data to support ongoing trials of SNG001 in COVID-19 patients".
If I read it rightly it says they are confident on the effectiveness of the treatment so far on COPD patients, so much so that the treatment can be safely and effectively given to Covid patients. It is an indication that the COPD trials have, till then, produced positive results. And of course, we know what phase II has shown to us.
On the AZN board they recognise the importance of a COPD treatment and no one can argue against it, really. If the results are positive of our phase II the impact on the sp will be substantial. AZN knows it.
If there were a bid for SNG from AZN, it doesn't stop a counter being placed on the table by another big pharma from the USA, for instance (to please some here).