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Synairgen ( (GB:SNG) ) has issued an update.
Synairgen has successfully raised £18 million from TFG Asset Management to fund its Phase 2 INVENT clinical trial of SNG001, aimed at reducing mortality in mechanically ventilated patients with severe viral lung infections. Despite not meeting the Minimum Fundraising Condition through other means, the funding will facilitate trial costs, drug manufacturing, and stability testing, with plans to initiate the trial soon and a strategic move to delist from AIM if shareholder approval is obtained.
More about Synairgen
Synairgen is a UK-based respiratory company focused on drug discovery and development, particularly of SNG001, an inhaled formulation of interferon beta. The company aims to provide the first broad-spectrum antiviral treatment directly targeting the lungs for severe viral infections, addressing a significant unmet medical need as millions are hospitalized annually without effective antiviral therapies.
YTD Price Performance: -18.63%
Average Trading Volume: 504,100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £11.02M
For an in-depth examination of SNG stock, go to TipRanks’ Stock Analysis page.
