Synairgen PLC - South Hampton, England-based drug discovery and development company focused on combatting respiratory disease - In 2023, pretax loss narrowed to £9.7 million from £20.1 million a year prior. No revenue generated. Research & Development expenditure down 56% to £6.5 million from £14.9 million. Other administrative expenses fell 30% to £3.8 million from £5.4 million. Cash and cash equivalents held at £10.5 million, down 34% from £15,9 million.
Chair Simon Shaw said: ‘We have made a strategic decision to focus on mechanically ventilated patients in the hospital setting enabling clinical development with smaller, easier to deliver clinical trials in an area of high unmet medical and pharmacoeconomic need. We have determined that it is inappropriate at this stage for the company to conduct clinical trials in the non-hospitalised setting’.
Current stock price: 4.22 pence each, down 24% on Thursday afternoon in London
12-month change: down 49%
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