Synairgen price target maintained at 505p by broker finnCap

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Synairgen PLC’s (LON:SNG) latest data from trials of Covid-19 treatment SNG001 has increased the likelihood of a positive read-out from the phase III trial underway currently in hospitalised patients, finnCap said.

The broker added it was sticking with its share price target of 505p and is awaiting the read-out from the phase III trial in the second half of 2021.

Today’s results were from a study of people with SARS-CoV-2 treated at home with SNG001 as well as data from a combined analysis of the hospital and home cohort.

Treatment led to a threefold likelihood of recovering to ‘no limitation of activities’ in the markedly/severely breathless COVID-19 patients.

While there were too few patients in the home cohort generate meaningful statistical analyses: only two patients (c.3%), both from the placebo group, were admitted to hospital, finnCap noted.

Shares dropped to 134.6p.

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