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A share price that has gone 25 times since New Year? Welcome to the crazy fair year 2020.
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The Synairgen share quadruples on the London Stock Exchange
Monday to 173 pence. The latest price explosion means that the small biotech company has gone 25 times since the New Year and is now valued by investors at £ 235 million (260 million euros).
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The reason? The press release that Synairgen published in advance. The University of Southampton spin-off claims strong research results in tests on 220 Covid-19 patients. Patients who received the experimental agent SNG001 were 80 percent less likely to have to die or die from a ventilator than patients in the placebo group.
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In SNG001, patients inhale natural proteins, interferon beta. Synairgen tested the experimental drug in 2014 together with the pharmaceutical giant AstraZeneca on asthmatics, but the studies were terminated after two years without clear conclusion.
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