Shares in respiratory drug development company Synairgen (SNG:AIM) gained 4% to 109.7p on Monday after studies showed its inhaled SNG001 drug was effective against key coronavirus variants.
The studies were conducted at laboratories in the Netherlands and confirmed that SNG001 ‘potently reduced’ the virus to undetectable levels in cells infected with the original Wuhan strain as well as the Kent and South African variants.
Chief executive Richard Marsden commented: ‘We are pleased to see initiatives being put in place to accelerate and support development of antiviral therapeutics as a backstop for patients who are admitted to hospital.
‘We are pleased to report that we will start dosing patients at trial sites in India in our Phase III study imminently.’
WIDER ROLE TO PLAY
Research house Numis Securities noted the potential role that therapeutics like Synairgen’s SNG001 could play in combating seasonal variants and other respiratory diseases, saying: ‘We believe it would be likely that health systems around the world will continue to seek potent antivirals in case of vaccine evasion (i.e. Seychelles & Maldives).
‘We continue to believe that SNG001 offers governments around the world an excellent therapeutic option alongside vaccines for higher-risk groups and monoclonal antibodies for breakthrough infections in patients at higher risk of hospitalisation.’
Shares highlighted Synairgen as a company whose shares had fallen too far relative to its prospects in a recent article.
