17 May 2017

 

 

Synairgen plc: Preliminary statement of results for the year ended 31 December 2016

 

 

Southampton, UK – 17 May 2017: Synairgen (LSE: SNG), the respiratory drug discovery and development company, today announces its preliminary statement of audited results for the year ended 31 December 2016.

Operational highlights

  • Positive in vitro results in March 2016 from collaboration with Pharmaxis to develop the LOXL2 inhibitor as a novel treatment for idiopathic pulmonary fibrosis (IPF)
  • AstraZeneca stopped the Phase IIa trial of AZD9412, as colds were not causing as many severe exacerbations as expected in the trial population potentially compromising the trial’s ability to assess any effect of the drug on this endpoint

Financial highlights

  • Loss from operations for the year ended 31 December 2016 was £3.44 million (2015: £2.61 million)
  • Research and development expenditure for the year was £2.42 million (2015: £1.36 million)
  • Cash, cash equivalents and deposit balances of £4.77 million at 31 December 2016 (2015: £7.71 million). The Group remains debt free

 Post period-end highlights

  • Further positive data in March 2017 from two preclinical models of Synairgen’s LOXL2 inhibitor programme against IPF
  • AZD9412 INEXAS clinical trial update, announcing AstraZeneca’s decision to return the rights of inhaled interferon beta to Synairgen

“We are pleased with the progress made with the LOXL2 programme and look forward to advancing it into the clinic later this year in collaboration with our partner, Pharmaxis. As a result of the forthcoming return of the interferon beta programme to Synairgen, the Company will conduct a thorough analysis of all data arising from the study and will provide an update on the programme and our plans for future development. In particular, and based on recently published and unpublished work, we will examine the potential for inhaled interferon beta in COPD."

Simon Shaw

Chairman of Synairgen

- Ends -

 

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, James Thompson (Corporate Finance)

Stephen Norcross, Simon Johnson (Corporate Broking)

Tel: + 44 (0) 20 7220 0500

 

Consilium Strategic Communications (Financial Media and Investor

Relations)

Mary-Jane Elliott / Sue Stuart / Jessica Hodgson / Laura Thornton

synairgen@consilium-comms.com

Tel: +44 (0) 20 3709 5701

 

Notes for Editors

About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development. Core to Synairgen’s business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com

 

 

*** For full release please click here ***

 

 


Back to previous page