Synairgen (LON:SNG) Stock Price Down 17.7% – Here’s Why

Synairgen plc (LON:SNG)’s share price was down 17.7% on Tuesday . The company traded as low as GBX 0.80 ($0.01) and last traded at GBX 0.86 ($0.01). Approximately 933,123 shares changed hands during trading, a decline of 38% from the average daily volume of 1,504,091 shares. The stock had previously closed at GBX 1.05 ($0.01).

Synairgen Stock Performance

The firm has a market cap of £8.45 million, a P/E ratio of -0.52 and a beta of -2.23. The business’s 50-day simple moving average is GBX 1.82 and its 200 day simple moving average is GBX 3.17.

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).