Shares of Synairgen (LON: SNG) are rallying Wednesday after the company revealed that the external data safety monitoring board (DSMB) of the ACTIV-2 study has recommended that SNG001 advance into Phase 3 in mild to moderate COVID-19 patients.
SNG001 is described as a formulation for inhalation containing the broad-spectrum anti-viral protein interferon beta (IFN-beta) to treat severe viral lung infections.
Phillip Monk, Chief Scientific Officer of Synairgen, explained that “Interferon beta is a naturally-occurring protein, which orchestrates the body’s antiviral responses. SARS-CoV-2 suppresses IFN-beta production to compromise the immune system; the aim of delivering SNG001 directly into the lungs is to restore or boost natural antiviral defences to prevent the virus from causing severe lower respiratory tract illness.”
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He went on to say that data suggests SNG001 is well tolerated with a favourable safety profile.
Richard Marsden, CEO of Synairgen, said: “The advancement of SNG001 from Phase 2 to Phase 3 of the large ACTIV-2 trial is very welcome news and continues to build the case that our formulation of inhaled IFN-beta may have an important role in combatting COVID-19 and future emerging virus threats.
“In addition to the ACTIV-2 trial, our own Phase III SPRINTER study assessing SNG001 in hospitalised COVID-19 patients, is also progressing well and we expect top-line results in early 2022.”
Synairgen’s share price has risen over 12.3% to 65.1p following the news, putting it up over 7% for the year to date.
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