Synairgen( SNG, ), a UK-based respiratory company, has released its audited preliminary results today for the year ending 31 December 2022.
Among the highlights is the completion of further data analysis of more than 750 patients dosed to date with SNG001, a new experimental inhaler that contains a protein, interferon beta, which is meant to fight against a broad range of viruses. The findings include the development of stratification criteria to target specific populations in future trials and the reduction of several long COVID symptoms.
Synairgen also gained a deeper understanding of the extent of the mechanism of action of SNG001 as a host-directed, variant-agnostic antiviral agent.
In terms of financials, the company's loss from operations decreased to £20.3m from £57.9m in 2021. Cash and deposit balances as of 31 December 2022 were £19.7m, down from £33.8m a year earlier.
Richard Marsden, CEO of Synairgen, said: "2022 was an insightful year for Synairgen, pointing us towards a clear clinical development plan following analysis of the Phase 3 SPRINTER data and other important data.”
"We confirmed with our clinical collaborators the significant unmet need for broad-spectrum antivirals to help address both the ongoing need to treat viral lung infections, and in preparation for future pandemics. We believe that SNG001 has the potential to help fill this important gap in respiratory treatments for high-risk patient groups and we look forward to initiating the first trials in the second half of this year."
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An overall very positive update from Synairgen, which has made strides in 2022 toward eventually bringing its proprietary SNG001 to market. Financially, a decrease in R&D expenditure by £38 million demonstrates that the company is managing its costs efficiently.
SNG001, made from antiviral protein interferon beta, sits as a neat solution against a chaotic market backdrop. Currently, there are no approved antiviral therapies for the majority of hospitalised adult patients due to respiratory viral lung infections, and the pandemic has highlighted significant issues for health systems and patients as a result.
Synairgen notes that in the US alone, approximately three million people are hospitalised every year due to viral lung infections such as rhinovirus, RSV, COVID-19 and influenza. With this in mind, SNG001 has potential utility against a wide spectrum of respiratory viruses in certain high-risk patient groups, addressing a significant unmet need in the broader respiratory antiviral area.
Synairgen is also well-positioned to provide a potential solution to future viral pandemics, which is a growing concern among the public health community given rising populations, globalisation and climate change. In particular, the increasing worry surrounding bird flu in recent months has been well documented, with the WHO commenting ‘the risk to humans remains low’ but adding, ‘we cannot assume that will remain the case’.
Jeremy Farrar, flu expert and outgoing director of the Wellcome Trust said that the H5N1 strain of bird flu is ‘a big worry, given its ability to develop mutations that make it easier to transmit to humans’. Synairgen notes that there is a strong scientific rationale underpinning SNG001 for use in treating patients infected with a broad range of respiratory viruses, including H5N1.
Looking forward, the company will advance its clinical development plan for SNG001 with series of focused studies, utilising existing resources, to pave the way for a phase 3 programme, beginning in H2 2023. At this exciting time for Synairgen, make sure to to keep up to date with the latest company updates.