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Synairgen set for a busy winter

"The company has made good progress on its inhaled broad-spectrum antiviral candidate IFN-beta, designed to treat viral chest infections in patients with COPD."

COPD sufferer

Synairgen PLC (LON:SNG), the respiratory drug discovery and development company, is well-poised to complete the phase II trial on its lead candidate.

The phase II trial of inhaled interferon beta (IFN-beta) for chronic obstructive pulmonary disease (COPD) patients is progressing well, the company said in its results statement covering the first half of 2019, with four new sites added in 2019.

Synairgen revealed it had cash and bank deposits of £3.52mln at the end of June, compared to £5.31mln a year earlier.

At the end of August, the company received its 2018 research and development tax credit of £840,000.

The company had no revenue in the first half of 2019, while research & development costs ramped up to £1.69mln from £1.38mln the previous year, contributing to a deeper loss of £2.19mln versus a loss of £1.85mln the year before.

“We believe IFN-beta is a highly promising, and commercially attractive, therapeutic that could alleviate symptoms, help manage exacerbations and reduce healthcare costs. We look forward to completing the trial early in 2020 with results expected in Q2,” said Richard Marsden, the chief executive officer of Synairgen.

Quick facts: Synairgen PLC

Price: 215.9999 GBX

AIM:SNG
Market: AIM
Market Cap: £319.79 m
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