Synairgen PLC (AIM:SNG, OTC:SYGGF) said it has made 'substantial progress' preparing for a phase II trial of its lead asset, SNG001, which is being developed to treat high-risk patients with severe viral lung infections who are on ventilation.
"Having closely analysed various routes forward, we are confident that our focus on these high-risk patients is optimal from both a clinical and commercial perspective," said CEO Richard Marsden.
Researchers have now designed the study and worked to optimise aerosol delivery of SNG001 into ventilator circuits.
Management, meanwhile, has held discussions with a specialised clinical research group to support the planned clinical evaluation.
Marsden told investors: "To initiate this sizeable trial, additional funding will be required, and we will keep investors updated on plans as they finalise."
The update was provided alongside interim results, which revealed the group posted a significantly reduced loss of £3.7 million, with £2.5 million of that invested in research and development. Crucially, it exited the six months ended June 30 with £8.6 million on the balance sheet.