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Loss-making Synairgen positive over current trials

By BFN News | 09:27 AM | Tuesday 13 September, 2011

Synairgen plc, the respiratory drug discovery and development company, has announced its audited results for the year ended 30 June 2011 showing fundraising of £2.5 million (net of expenses) completed in June 2011 to provide additional finance for the company's two interferon beta programmes Research and development expenditure for the year was £2.9 million (2010: £2.1 million) The company reported a post-tax loss for the year of £3.2 million (2010: £2.6 million). The cash position at 30 June was £4.9 million (2010: £5.0 million) The company announced that Phase II trial of inhaled interferon beta ('IFN-beta') in asthma on schedule: last subjects expected to be dosed this Autumn, with results anticipated Q1 2012 Business development activity for out-licensing of IFN-beta programme being coordinated to coincide with the availability of key pre-clinical and clinical trial data Commenting on the results, Simon Shaw, Chairman of Synairgen, said: "Synairgen is entering an exciting period where we will see the results of proof-of-concept studies both from the clinical trial in asthma and in the broader field of viral defence, starting with influenza. "We expect that a positive outcome from either, or both, of these studies will represent a significant step forward for the Company and pave the way for our successful development." At 9:27am: (LON:SNG) Synairgen share price was -0.5p at 24p Story provided by

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