As the ASX wobbles into afternoon trading, Starpharma Holdings Ltd [ASX:SPL] share price is up 2.24% at time of writing.
Putting the biotech stock in the green on a day that has left many stocks in the red. All thanks to the release of its COVID-19 fighting nasal spray: VIRALEZE.
So, could this be the breakthrough shareholders were looking for?
A timely launch
As I noted back in late March, the launch of VIRALEZE was a key objective investors should keep an eye out for.
Now that that objective has been met, both management and shareholders will finally see whether the product will be a commercial success, or not. Which will ultimately determine whether the company starts generating some meaningful revenues.
Especially following their initial debut of VIRALEZE in the UK, on 30 March.
By opening it up to the rest of Europe though, they have the potential to capture a much wider market. Especially with recent spikes and ongoing management of the virus across several major populaces.
For that reason, this may be a well-timed launch. Helping fight the ongoing battle against this pandemic.
As CEO Dr Jackie Fairley comments:
‘We are delighted to be rolling out VIRALEZE in Europe following the UK launch. The product has been very well received in the UK and we hope that VIRALEZE will provide European consumers with added peace of mind.
‘In addition to make VIRALEZE available direct to consumers in Europe via www.viralzeze.co, commercial discussions for distribution continue in parallel. Starpharma is actively engaged in discussions with a variety of organisations in the region, including sporting teams, which have expressed interest in VIRALEZE.’
Crucially though, Starpharma isn’t stopping just there.
In the update, they specifically mention that they are looking into ways to get VIRALEZE to India. Investigating the possibility for ‘rapid access’ via ‘expedited registration and distribution’.
So, with any luck, they may even be able to gain access to this massive market as well.
What’s next for Starpharma Share Price?
With the launch of VIRALEZE now done and dusted, the real test for Starpharma begins.
Because no matter how good the product may be, or how timely its launch is, if there is no demand then it could all be for naught. What the company needs right now is a commercial success, as I’ve already mentioned.
Whether that will happen though, only time will tell.
For that reason, this stock still remains a speculative play. The kind of investment that you need to think long and hard about before committing any money to.
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For Money Morning