Synairgen (LON:SNG) Stock Price Down 9.5% – Here’s Why

Synairgen plc (LON:SNG) fell 9.5% during mid-day trading on Monday . The company traded as low as GBX 1.81 ($0.02) and last traded at GBX 1.81 ($0.02). 129,056 shares changed hands during trading, a decline of 91% from the average session volume of 1,508,068 shares. The stock had previously closed at GBX 2 ($0.03).

Synairgen Trading Down 9.5 %

The business has a 50 day moving average of GBX 2.32 and a 200-day moving average of GBX 3.51. The firm has a market capitalization of £17.71 million, a P/E ratio of -1.09 and a beta of -2.23.

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 lung viral defence in 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.

Synairgen is conducting a double blind, placebo-controlled clinical trial in COVID-19 patients (SG016).