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Synairgen shares surge on positive results for Covid-19 trial

The micro-cap’s inhaled drug could mark “a major breakthrough”
July 20, 2020

Positive trial results for an experimental Covid-19 medicine “could signal a major breakthrough” in the treatment of the disease, according to micro-cap Synairgen (SNG). The biotech company has been monitoring the effects of SNG001, its wholly-owned inhaled formulation of the drug ‘interferon beta’, in hospitalised coronavirus patients. Data so far suggests that the odds of developing severe disease, requiring ventilation, were reduced by 79 per cent for those receiving SNG001, compared with those given a placebo product, although the findings are yet to be peer reviewed.

IC TIP: Hold at 105p

Synairgen said that patients who received SNG001 were more than twice as likely to recover over the course of the treatment, and the measure of breathlessness was “markedly reduced”.

Interferon beta is a naturally occurring antiviral protein, already approved for use as a drug in an injectable form. But Tom Wilkinson, professor of respiratory medicine at the University of Southampton and Trial Chief Investigator, said the new trial results “confirm our belief” that it has “huge potential as an inhaled drug to be able to restore the lung’s immune response, enhancing protection, accelerating recovery and countering the impact of SARS-CoV-2 virus [Covid-19]”. Synairgen’s treatment is delivered in high concentration, directly to the lungs via a nebuliser – a machine allowing patients to breathe in a medicine.

Synairgen’s trial was relatively small, involving just 101 patients. Further investigation is required and the group is working with regulators and other bodies to take the next steps for its unapproved treatment. Chief executive Richard Marsden says “we are poised to sprint” with follow-on clinical trials once the analysis has been completed and discussions have been had with the relevant agencies.