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Synairgen PLC - Southampton, England-based drug discovery and biotechnology company - Records a pretax loss of £57.9 million in 2021, widened from £17.7 million in 2020, as research and development costs jump to £52.9 million from £15.5 million. Further, administrative expenses more than double to £5.0 million from £2.2 million. Explains this with its phase 3 Sprinter trial that started patient recruitment in January 2021. The trial is for SNG001, an inhaled drug for the treatment of Covid-19. Says the remainder of the research and development expenditure was used for upscaling SNG001 manufacturing development activities and procuring long lead time components.
Plans to trial SNG001 as a broad-spectrum, virus-agnostic treatment in patients hospitalised with a range of viruses such as influenza, respiratory syncytial Virus and para-influenza.
Current stock price: 29.10 pence, down 16% on Wednesday
12-month change: down 77%
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