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Synairgen losses deepen on higher R&D spend
StockMarketWire.com
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Respiratory diseases focused Synairgen posted a deeper annual loss after it ramped up spending on research and development.
Pre-tax losses for the year through December amounted to £17.7 million, compared to year-on-year losses of £4.8 million.
The company said operational highlights for the year included positive trial results for an inhaled treatment for hospitalised Covid-19 patients.
'Synairgen has made exceptional progress over 2020, with our broad-spectrum antiviral taking centre stage as a possible treatment for Covid-19, supported by a growing body of clinical evidence,' chief executive Richard Marsden said.
'Our inhaled interferon beta candidate, SNG001, has now demonstrated in a number of robust placebo-controlled clinical trials that it has the potential to prevent patient deterioration and accelerate recovery.'
'Alongside vaccines, access to treatments that are both virus and strain agnostic is critical.'
'Our efforts are focused on making such treatments available to the public as swiftly as possible by advancing our late-stage clinical trials , seeking marketing authorisations and ensuring the manufacturing and commercial capabilities can be rapidly up-scaled to meet potential demand.'
At 9:21am: (LON:SNG) Synairgen PLC share price was 0p at 120p
Story provided by StockMarketWire.com
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