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Synairgen Shares Rally 15.3% on Positive COVID-19 Trial

Simon Mugo trader
Updated 8 Sep 2020

Practice Stock Trading
Scientist in lab

Shares of Synairgen Plc (LON: SNG) today rallied 15.3% after the company released positive phase II clinical trial results for SNG001, a wholly-owned inhaled formulation of interferon beta for COVID-19 patients, on older populations with significant co-morbidity (COPD).

The interim analysis of its exploratory Phase II clinical trial of inhaled SNG001 in Chronic Obstructive Pulmonary Disease (COPD) patients with a confirmed respiratory viral infection showed that it was well tolerated in older populations with a mean age of 66 years.

Synairgen had announced positive phase I clinical trial results for SNG001 on 20th July.

Richard Marsden, CEO Synairgen, said: “COPD exacerbations are the second most common cause of unplanned hospitalisation in England, behind cardiovascular disease…Overall, SNG001 has now been shown to raise the body’s natural viral defences when challenged by a wide variety of respiratory viruses, indicating that it could be an important treatment in the coming virus season, where there may be coinfection with influenza and other viruses alongside COVID-19.

Synairgen share price

Tradingview chart of Synairgen share price 08092020

Synairgen shares today surged 15.3% to trade at 226p having closed yesterday’s session trading at 196p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading