Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Synairgen's (LON: SNG) share price is rallying on Monday after the company said results from two in vitro studies showed the antiviral activity of SNG001 against two SARS-CoV-2 variants.
The company, which is developing an inhaled formulation of interferon beta (SNG001), said the treatment showed “broad-spectrum antiviral activity”.
SNG001 is delivered directly into patients' lungs, the primary site of virus infection, to prevent severe lower respiratory tract illness caused by the Covid-19 virus.
In vitro experiments were conducted in the Netherlands to confirm that SNG001 had activity against the Kent and South African variants.
Synairgen said that SNG001 “potently reduced” the virus to undetectable levels.
“As expected, these data confirm that SNG001 is a broad-spectrum antiviral product, now also demonstrating applicability against SARS-CoV-2 variants,” said Richard Marsden, CEO of Synairgen
“Alongside vaccines, our lines of defence for this pandemic and future outbreaks rely in part on access to effective antivirals with broad-spectrum activity against a range of viruses and variants.
“We are pleased to report that we will start dosing patients at trial sites in India in our Phase III study imminently.”
Synairgen's share price is currently 6.79% above Fridays close at 112.8p.
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