Synairgen Secures £18 Million Funding Amidst AIM Delisting Plans

An update from Synairgen ( (GB:SNG) ) is now available.

At a recent General Meeting, Synairgen plc announced the approval of all resolutions outlined in their December 2024 Circular, resulting in the successful raising of £18 million through a subscription by TFG Asset Management. Consequently, 900,000,000 new ordinary shares are set to begin trading on AIM on January 17, 2025. Despite this, the company plans to apply for the cancellation of its ordinary shares from trading on AIM due to not meeting the Minimum Fundraising Condition, with more details forthcoming. Additionally, Martin Murphy has been appointed as an independent Non-Executive Director.

More about Synairgen

Synairgen is a UK-based respiratory company that focuses on drug discovery and the development of SNG001, an inhaled interferon beta, as a potential broad-spectrum antiviral treatment for severe viral lung infections. The company aims to provide solutions for the millions of people hospitalized annually due to viral lung infections, for which no approved antiviral therapies currently exist. Synairgen is listed on AIM under the ticker SNG.

YTD Price Performance: -18.52%

Average Trading Volume: 553,778

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £11.02M

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