Synairgen surges on testing update

AIM-listed drug discovery firm Synairgen (LON:SNG) saw its share price shoot upwards by 31.93% to 143.80p (as of 14:05 GMT) after it was given fast track clearance by the FDA to carry out clinical trials in the US. The company has also adjusted the protocol for its Phase III trials with COVID patients to reduce the number of patients required and provide additional information on recovery timelines. Trials in the UK have been initiated with dosing expected to begin imminently.

CEO Richard Marsden commented: “With this adaptation we should be able to reduce the time taken to complete the trial, which, together with an expedited review from the FDA, could allow us to get this therapy approved for patient use in COVID-19 more rapidly. With trial sites now being set up, we anticipate dosing the first patients imminently. SNG0011 is one of the few potential treatments to have shown efficacy against severe viral lung infections such as COVID-19, and multiple approaches will be needed to minimise the impact of this deadly virus.

“There remains a great need to develop breakthrough treatments for patients who become ill with COVID-19, despite the recent successes from the vaccine developers. This is especially important if vaccine uptake is poor for any reason, or if any mutations in the SARS-CoV-2 virus render the vaccines less effective.“