Synairgen plc – Interim results for the six months ended 30 June 2020

Synairgen plc, the respiratory drug discovery and development company, today announces its unaudited interim results for the six months ended 30 June 2020.

Highlights (including post period-end)

Operational

• Positive results from SG016, its double-blind placebo-controlled Phase II trial of SNG001 in hospitalised COVID-19 patients announced in July
   
• The Company extended the SG016 Phase II trial to include a further 120 patients with confirmed COVID-19 to be dosed in the home environment (ongoing)
   
• Positive results from interim analysis of SG015, its double-blind placebo-controlled Phase II trial of SNG001 in COPD patients announced in September, supporting the COVID-19 programme
   
• Patent applications for SNG001 in COVID-19 patients and in exacerbating COPD patients undergoing treatment with systemic corticosteroids were submitted post period-end
   
• Synairgen launched a Managed Access Program with Clinigen, to provide SNG001 to hospitalised COVID-19 patients – see separate announcement issued today
   
• The Company is currently in discussions with regulatory agencies to establish the route to approval of SNG001 as a treatment for COVID-19
   
• The Company is also investing in supply chain activities to ensure that drug and aerosol delivery system availability can meet potential demand, pending approval

             
Financial

• In March 2020, Synairgen raised £14.0 million (before expenses) in an equity issue to fund its initial COVID-19 related activities and strengthen its balance sheet
   
• Research and development expenditure for the six months ended 30 June 2020 was £4.47 million (30 June 2019: £1.69 million) as the Company advanced its clinical trial of SNG001 in COVID-19 patients and scale-up activities
   
• The loss from operations for the six months ended 30 June 2020 was £5.08 million (30 June 2019: £2.21 million loss)
   
• Cash balances of £10.9 million at 30 June 2020 (30 June 2019: £3.52 million)

Richard Marsden, CEO of Synairgen, said: “The first six months of this year have been the most significant in Synairgen’s history. We were delighted to announce positive results from our hospital-based COVID-19 trial in July, and have been working tirelessly on the progression of SNG001 as a potential treatment for COVID-19 patients. With further positive results from our interim analysis of SNG001 in COPD announced in September 2020, we feel well-equipped to realise our strategy of progressing inhaled interferon beta for the treatment of respiratory viruses. I’d like to thank everyone involved in the Company and trials for all their hard work to date.”

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 (‘MAR’).

For further enquiries, please contact:

Synairgen plc
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
Tel: + 44 (0) 23 8051 2800

finnCap
Geoff Nash, Kate Bannatyne, Charlie Beeson (Corporate Finance)
Alice Lane, Manasa Patil (ECM)
Tel: + 44 (0) 20 7220 0500

Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott, Sue Stuart, Olivia Manser
synairgen@consilium-comms.com
Tel: +44 (0) 20 3709 5700