Shares in Synairgen PLC (AIM:SNG, OTC:SYGGF) were up almost 7% after the respiratory specialist said it has recruited all 610 people to its phase III clinical trial evaluating inhaled drug SNG001 in hospitalised COVID-19 patients.
A read-out from the SPRINTER study is expected early next year.
“This is clearly positive news and follows the news in October that SNG001 would also transition into the phase III element of the US National Institutes of Health-sponsored ACTIV-2 trial in the non-hospital setting,” said City broker finnCap.
“If the data from the SPRINTER trial are positive, an Emergency Use Authorisation will be filed in the US for patients requiring hospitalisation due to COVID-19.”
finnCap values the shares at 505p each – more than double the current share price of 194p.