Home>News>Economy>Pharmaceutical company shares have increased for more than 500% after COVID-19 drug test

Pharmaceutical company shares have increased for more than 500% after COVID-19 drug test

Pharmaceutical company shares have increased for more than 500% after COVID-19 drug test

According to the London Stock Exchange, at 14:30 Moscow time, shares of the British pharmaceutical company Synairgen rose by 535.62% compared to the price at the close of trading on Friday.

The shares increased after the company announced testing of its experimental drug, SNG001. On Monday, it became known that medication reduced the risk of complications from COVID-19.

About 220 people took part in the clinical testing. Thanks to the drug, it was possible to reduce the risk of switching to respiratory care and the risk of death was reduced by 79% compared to those who received a placebo. Those who received the medicine also showed a greater chance of complete recovery.

SNG001 is taken internally through the respiratory tract. It is created using interferon beta, a naturally occurring protein. Scientists managed to find out that patients who are sick or those most vulnerable to coronavirus often have interferon deficiency. Among them were elderly patients, as well as people with heart disease, lung disease or diabetes.

The pharmaceutical company was founded by three professors from the University of Southampton. The company’s shares have increased in value by 3850% for the entire current year. They are traded on the platform for emerging organizations of the London Stock Exchange. FinnCap analyst Mark Brewer said that if the drug goes to market, the company will be the subject of discussions with regulators.

19.08.2021, 07:00
Survey Shows 3 in 4 Crypto Investors Turned a Profit Investing, Crypto Represents 12% of Millennial Portfolios
11.08.2021, 19:45
Digital insurer Metromile follows through with $1M Bitcoin purchase
27.09.2021, 09:10
China fear is now infrastructure bill fear — 5 things to watch in Bitcoin this week
16.06.2021, 10:59
Opening Bell: Global Markets Await Fed Next Steps; Commodities Slide
03.11.2021, 13:57
Use UnitedHealth Group 'Poor Person’s' Covered Call To Reduce Volatility
02.06.2021, 13:59
US Financial Advisers Up Crypto Recommendations as Interest Rises
29.07.2021, 09:27
Japan urges young people to get jabs and stay in amid Tokyo Covid surge
30.07.2021, 20:00
Report Suggests Robinhood Owns Largest Dogecoin Address and Third-Largest BTC Wallet