Shares of respiratory company Synairgen (LON: SNG) have jumped at the open Thursday after it told investors it has completed the recruitment in its international Phase 3 SPRINTER study of SNG001 in hospitalised Covid-19 patients.
The company achieved its recruitment target of 610 randomised patients. The study is set to be conducted across 17 countries.
Also Read: The Best Healthcare Stocks to Buy
Once the final patients have completed an initial 35-day trial period, quality assurance and statistical analysis will be conducted, with top-line data from the trial expected in early 2022.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Get up to £500 cashback for investing with IG.
Synairgen said it is preparing to file for Emergency Use Authorisation (EUA) in the US for patients requiring hospitalisation due to Covid-19.
Richard Marsden, CEO of Synairgen, said: “We believe that SNG001, our investigational inhaled formulation of interferon beta, a naturally-occurring, broad-spectrum antiviral protein, could offer a compelling new treatment option. With the trial having achieved its randomisation target we look forward to announcing top line data early in 2022.”
Synairgen shares are currently up 5.53% at 191.7p, adding to this month’s over 20% gains.
Is Now a Good Time to Invest In Synairgen Shares?
Healthcare stocks, including Synairgen shares, saw a wave of investors buy their shares during the pandemic. Governments also pumped money into the companies in an attempt to speed up the vaccine process. But, what happens now some vaccines have been approved and the pandemic is (seemingly) in the rearview mirror? Should we still invest in coronavirus-focused healthcare stocks? Or should we look to firms tackling other areas?