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Synairgen has funds for future development

By BFN News | 09:48 AM | Friday 10 August, 2012


Synairgen (LSE: SNG), the respiratory drug company with a particular focus on viral defence of the lungs, reduced its losses in the six months ended 30 June 2012. It has revealed successful initial results from the Phase II proof of concept trial of inhaled interferon beta (SNG001) for the treatment or prevention of virus-induced asthma exacerbations (acute and prolonged worsening of asthma symptoms). Research and development expenditure for the period was £0.75m (H1 2011: £1.62m). The post-tax loss for the period of £1.15m (H1 2011: £1.82m). Simon Shaw, Chairman of Synairgen, commented: "This has been a pivotal and successful six months for the company. The identification of the 'difficult to treat' asthmatics, who are most vulnerable to respiratory viruses, is very important for future trial design for the development of SNG001. The efficacy data and safety data along with strong pre-clinical data opens up the possibility to discuss SNG001 with governments who are seeking broad spectrum antivirals to treat serious respiratory infections. "Following the oversubscribed placing in July, the company is well funded and well placed to plan the further development of SNG001 and facilitate the licensing process that will deliver this novel therapy." At 9:48am: (LON:SNG) Synairgen share price was 0p at 44p Story provided by StockMarketWire.com

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