Starpharma Share Price Up — Gets the Greenlight in Europe (ASX:SPL)
As the rollout of COVID-19 vaccines gets underway, optimism seems to be returning. For the first time in nearly a year, the tide seems to be turning in the fight against this pandemic.
However, that doesn’t mean it is necessarily going to be over anytime soon.
Just because we have vaccines, doesn’t meant we can’t fight off this virus in other ways. Which is precisely what Starpharma Holdings Ltd [ASX:SPL] has been doing.
And today the SPL share price is trading 6.36% higher thanks to their ongoing fight…
Imminent launch of a new weapon to stave off COVID
See, Starpharma has been busy developing VIRALEZE. A unique nasal spray product that contains a unique substance known as astodrimer sodium. An existing drug that has proven incredibly effective at dealing with respiratory illnesses.
More importantly, it has shown the ability to inactivate SARS-CoV-2 (the lethal virus that is responsible for COVID-19) with 99.9% effectiveness. All within the span of just one minute.
Pretty incredible stuff, to be honest.
As such, Starpharma has been desperately trying to bring VIRALEZE to market. Getting it in the hands of people who need it most as soon as possible. And today, they’re one step closer to that goal.
The company has received confirmation that registration of VIRALEZE in Europe and the UK has been successful. Meaning that they will now be able to market and sell the product across the region as early as March.
Here is what CEO Dr Jackie Fairley had to say on the matter:
‘Starpharma is pleased to have successfully developed a product that has the potential to assist with the fight against the global COVID-19 pandemic. We are delighted to have completed the registration of VIRALEZE in the UK and Europe ahead of our original schedule and acknowledge the support of local and international specialist laboratories who have assisted Starpharma with the development of VIRALEZE.
‘We have already undertaken substantial launch preparations, including manufacturing in Europe, to ensure VIRALEZE is available to consumers and businesses as early as possible. Strapharma is focussed on making the product as widely available as possible, with further registrations and roll-out planned.’
What’s next for SPL Share Price?
Naturally, for shareholders, this is fantastic news. Hinting at the possibility for Starpharma to start making some serious sales in Europe.
The ultimate question though, is just how much revenue this will actually generate. With demand and supply of this product still unknown. A situation that could lead to a spectacular success or failure.
Only time will tell.
However, compared to most biotech stocks, Starpharma is lucky to have even made it this far. A strong indication that they may be one of the lucky few to play a pivotal role in eradicating this terrible pandemic.
Compared to a lot of other biotech stocks, that is a ringing endorsement. With the speculative nature of these companies making them incredibly tricky to trade.
For that reason, if you’re looking for help when it comes to managing risk, you should listen to our in-house expert, Murray Dawes. He’s been honing his trading skills and methodology for years. To great success, might I add.
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For Money Morning
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