The main highlights for Synairgen in 2015 were the research collaboration with Pharmaxis to develop a compound to treat idiopathic pulmonary fibrosis (IPF) and AstraZeneca commencing a Phase IIa trial of AZD9412 (formally SNG001), the group’s lead inhaled interferon beta programme for virus-induced exacerbations in respiratory diseases. News flow from either isn’t expected until 2017, leading us to believe that 2016 will be a quiet year for the group unless a new opportunity is established. Our revised target price of 47p is based solely on AZD9412 however, Buy.
