:)29 Apr 2020 17:08
Synairgen Plc – SNG001 trial in COVID-19 patients, shares zoom ~ 315% on YoY
The respiratory drug discovery and development company on March 31st, 2020, announced that it has commenced dosing patients in its trial SNG001 in COVID-19 community. This was in line with the update released by the company on March 18th, 2020. The company then had, updated that Interferon-beta (IFN-beta) has potential applicability to COVID-19 virus. The company mentioned that deficiency in IFN-beta production by the lung could have enhanced susceptibility of patients whose life are at risk because of COVID-19 pandemic.
The company’s SNG001 can play an important role to flatten the curve of the outbreak of the current epidemic, particularly with regards to the population at highest risk of being severely affected by coronavirus pandemic and similar viruses.
Post the outbreak of COVID-19, which started from the mainland of China and till now has gripped almost every country on this planet. The company has been approached by several other medical, scientific, and governmental bodies in the UK, US and other nations. It is presently in discussion with them who are seeking to investigate novel therapeutics in this area.
The company is an Alternative Investment Market-listed a biotechnology company and is engaged in drug discovery and development of therapies for respiratory illness, with an outstanding market capitalisation of £83.7m. The company focuses in the areas including acute asthma, chronic obstructive pulmonary disease (COPD) and idiopathic pulmonary fibrosis (IPF).
Further, once the announcement was made by the company on March 18th, 2020 related to trail start of SNG001 in COVID-19 patients, it has sent its shares considerably higher on the LSE. Between March 18th, 2020 to April 28th, 2020, its shares have surged ~ 259% to end the April 28ty 2020, session at GBX 56.
The recent rally of ~ 259% has turned stocks of SNG a multibagger on the LSE where its benchmark indices are at multi-year low. On a YoY basis, SNG shares have handed a stupendous return of ~ 315%.
In a year-over period, its shares have registered a 52-week high of GBX 73 on April 14th, 2020 and a 52-week low of GBX 5.88 on December 23rd, 2020. However, at the last closing price of GBX 56, its shares have traded ~ 23% off those highs and about 852% above its 52-week low price level.
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