Synairgen PLC (AIM:SNG, OTC:SYGGF) reported it had £19.7mln of cash and deposits in the bank at the end of what chief executive Richard Marsden said was an “insightful year”.
He said the period pointed the respiratory company “towards a clear clinical development plan” following analysis of the Phase 3 SPRINTER data and other important data.
The company is developing SNG001, an investigational formulation for inhalation containing the broad-spectrum antiviral protein interferon beta, with the Phase 3 trial involving 750 patients dosed with the medicine.
"We confirmed with our clinical collaborators the significant unmet need for broad-spectrum antivirals to help address both the ongoing need to treat viral lung infections, and in preparation for future pandemics," said Marsden.
“We believe that SNG001 has the potential to help fill this important gap in respiratory treatments for high-risk patient groups and we look forward to initiating the first trials in the second half of this year.”
Giving more detail, the group said it is currently advancing a clinical development plan designed to address the unmet need in targeted patient populations that appear to be most responsive to SNG001 in previous clinical trials, as well as in immunocompromised patients who are particularly vulnerable to respiratory viral infections, and also ventilated patients with confirmed viral pneumonia.
This plan will start with a series of focused, investigator-led/Synairgen-sponsored studies that build a pathway towards a Phase 3 registrational programme.
Synairgen cut losses to £20.3mln from £57.9mln as research & development expenditure decreased to £14.9mln from £52.9mln.