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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

Synairgen

Respiratory drug discovery company Synairgen [LON:SNG] has this morning announced the results of a clinical trial on its SGN001 therapy. This is a treatment designed to mitigate the effects of COVID-19 amongst hospitalised patients. In a double-blind trial, 79% of recipients had a lower chance of developing severe disease compared to those patients who received the placebo. The drug prevented patients who were on oxygen from requiring ventilation, whilst recovery from the condition was also improved. The company’s share price hit a five year high in April of 78p, before closing on Friday at 36.5p.

GlaxoSmithKline

Keeping with the pharma sector, GlaxoSmithKline [LON:GSK] has this morning announced it is buying almost 10% of CureVac, in a bid to accelerate the company’s work into antibody research programmes in infectious diseases. There’s more details in the filing published by GSK, but CureVac will be responsible for preclinical and clinical developments through Phase 1 trials, before handing over to GSK for commercialisation where appropriate.


SThree

Specialist recruiter SThree [LON:STEM], who focus on roles in science, technology, engineering and maths, have today published results for the six months to 31st May. Despite that focus however, COVID-19 has still taken a toll on performance, with revenues down 8% and operating profits down by almost a half. The downside was certainly weighted in the second quarter, with the note adding that Q1 saw record fees being delivered. The interim dividend has been suspended and the company notes that it has used government job retention schemes where appropriate.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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