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- During the September quarter, Starpharma (SPL) achieved several milestones with its SPL7013 COVID-19 nasal spray
- In mid-September, the company completed additional testing of SPL7013 against the virus that causes COVID-19, SARS-CoV-2, and revealed its 99.9 per cent effective against the virus
- Additionally, the pharmaceutical company made progress with its Dendrimer Enhanced Product (DEP) candidates and VivaGel BV
- The DEP candidates are used to treat varying tumours and all are progressing well with phase 2 trials
- VivaGel BV, achieved Australian Therapeutic Goods Administration (TGA) approval in mid-September, bringing it inline with those in Europe and Asia
- The product was launched in the Nordic region and regulatory approvals were received for countries in Africa and the Middle East
- As of September 30, Starpharma had a cash balance of $24.9 million, a decrease from the $36.8 million in the prior corresponding period
- Net operating cash outflows were $4.7 million, with the majority going towards research and development, and staff costs
- Starpharma is up a slight 1.05 per cent on the market with shares trading for $1.45 each
During the September quarter, Starpharma (SPL) achieved a number of milestones with its COVID-19 nasal spray.
Additionally, the pharmaceutical company made progress with its Dendrimer Enhanced Product (DEP) candidates and VivaGel BV.
“The past quarter has been a period of significant achievements for the company, with the expedited development of the SPL7013 COVID-19 nasal spray, which is expected to be ready for market in H1 CY21,” CEO Dr Jackie Fairley said.
“It was particularly pleasing to see rapid recruitment into a number of our DEP programs following the interruption by COVID-19. We also continue to add greater depth of our partnered DEP programs with major pharmaceutical companies,” she added.
SPL7013 nasal spray
In mid-September, Starpharma completed additional testing of SPL7013 against the virus that causes COVID-19, SARS-CoV-2.
After studies were undertaken at the Scripps Research Institute in the U.S., results confirmed that SPL7013 is 99.9 per cent effective against SARS-CoV-2.
SPL7013 works by slowing down the infection of host cells when applied to cells both before and after exposure to the virus.
It blocks the interaction between viral surface proteins and human cell receptor proteins.
Starpharma is continuing with discussions across a range of distribution channels and is expecting to have the product ready for market by the first half of 2021.
DEP candidates
Starpharma’s DEP drug delivery platform is made up of DEP docetaxel, DEP cabazitaxel, and DEP irinotecan, which are used to treat varying types of tumours.
The DEP irinotecan phase 2 trial is underway with patient enrolment rapidly progressing and 27 patients already dosed.
Encouraging signs have been observed in a number of tumour types such as colorectal, pancreatic and ovarian.
Patient enrolment is continuing with a focus on colorectal, breast and pancreatic tumours.
Both the DEP docetaxel and DEP cabazitaxel phase 2 trials are progressing well with encouraging signs achieved such as tumour shrinkage and prolonged stable disease.
Additionally, Starpharma signed a research partnership with Tianjin Chase Sun Pharmaceutical to develop its DEP formulation.
Under this partnership, Starpharma will develop DEP formulations for Chase Sun with aims to enhance its performance and expand its therapeutic capabilities.
Chase Sun will fund all associated costs and activities.
VivaGel BV
Starpharma’s other product, VivaGel BV, achieved the Australian Therapeutic Goods Administration (TGA) approval in mid-September, bringing it in line with those in Europe and Asia.
It was also launched in the Nordic region and regulatory approval were received for countries in Africa and the Middle East.
VivaGel BV is a non-antibiotic topical treatment used to prevent the reoccurrence of bacterial vaginosis.
BV is the most common vaginal condition in the world and is twice as common as thrush.
Finances
As of September 30, Starpharma had a cash balance of $24.9 million, a decrease from the $36.8 million in the prior corresponding period (pcp).
Net operating cash outflows were $4.7 million, in line with the $4.6 million in the pcp.
Of this $4.7 million, the majority went towards research and development, and staff costs.
The company has more than $25 million in total available funding, representing 5.4 quarters of use if spending levels remain in par.
Starpharma is up a slight 1.05 per cent on the market with shares trading for $1.45 each at 2:17 pm AEDT.
