Starpharma (ASX:SPL) says its nasal spray is effective against Omicron, shares shine

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Starpharma (ASX:SPL) says its nasal spray is effective against Omicron, shares shine

Share price of Starpharma, shares of Starpharma, Omicron variant
Image source: © Deng3602 | Megapixl.com

Highlights

  • Starpharma says that its SPL7013 demonstrated potent antiviral activity and was virucidal against the Omicron variant.
  • The Company said that SPL7013 outperformed other antiviral agents used in marketed nasal sprays, including iota-carrageenan and heparin.
  • The stock was spotted trading over 5% higher at AU$0.930 during the intraday trading session on the ASX.

Shares of Starpharma Holdings Ltd (ASX:SPL) traded in the green territory after the Company announced that its antiviral nasal spray SPL7013 was found to be effective in the management of the Omicron variant.

The latest results came as a significant development for the ASX-listed biotechnology firm, with investors reacting positively to the update, ultimately taking the share price higher. The share price of Starpharma was spotted trading 5.68% higher at AU$0.930 per share at 3:20 PM AEDT. In the past 12 months, the Starpharma share price has declined by about 58%.

The Company recently highlighted that SPL7013 achieved the maximal possible reduction of virus infectivity (>99% within 5 minutes and >95% within 1 minute of exposure, achieving a maximal reduction of >99.5%) against the Omicron variant of SARS-CoV-2, in laboratory-based antiviral and virucidal assays.

Starpharma gets ‘go-ahead’ for clinical study for its antiviral nasal spray, VIRALEZE™

SPL7013 is the antiviral agent in VIRALEZE™ antiviral nasal spray. Earlier, the pharma player held that VIRALEZE™ demonstrated a high level of protection against SARS-CoV-2 in a WHO-recommended humanised mouse challenge model of coronavirus infection.

It is worth mentioning that Starpharma’s developed VIRALEZE™ is registered for sale in Europe, Vietnam, India, Saudi Arabia, and New Zealand and is available in some markets online.

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What all did the Company say about SPL7013?

  • SPL7013 was up to 30 times more potent than rival agent iota-carrageenan against the Omicron variant and 70 times more potent than heparin.
  • The activity of SPL7013 against the Omicron variant is consistent with the antiviral and virucidal activity demonstrated (>99%) against multiple other variants of SARS-CoV-2, including the Delta, Alpha, Beta and Gamma ‘Variants of Concern’.
  • Multiple spike mutations do not seem to impact the consistency and retention of SPL7013 activity adversely.
  • SPL7013 can abolish infection with all nine SARS-CoV-2 variants tested, including the most highly infectious Omicron and the virulent Delta variant.

For the half-year ended 31 December 2021, Starpharma’s revenue grew 200% to AU$1.9 million, relative to the prior corresponding period (pcp). The revenue growth was attributed to the significant sales of VIRALEZE™ following the product’s launch in new international markets, including Vietnam.

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Bottom Line

The high level of activity against Omicron is completely in line with the earlier data for SPL7013, which has shown antiviral and virucidal activity in various viruses. According to the company, this new data further illustrates the potential real-world benefits of VIRALEZE™.

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