Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Synairgen: positive medical trial results released
AIM-listed Synairgen LON:SNG has been developing a formulation for inhalation containing a broad-spectrum antiviral protein. The company has today announced positive data from additional assessments of its Phase 2 clinical trial of inhaled SNG001 in Chronic Obstructive Pulmonary Disease (COPD) patients with a confirmed respiratory viral infection. This resumes a trial that was halted at the start of the COVID-19 pandemic and the news has the potential to be well received by the market.
#2. WH Smith: H2 revenues beating pre-COVID levels
WH Smith LON:SMWH has issued a pre-close trading statement this morning, noting that in the second half of the year revenues have been comfortably ahead of pre-COVID levels. Group revenues for the 26 weeks to 27th August sat at 112% of 2019, whilst the travel sector came in some 129% ahead. Results for the year to 31st August are expected to be in line with the revised forecasts offered after the Q3 trading update.
#3. IHG cyber attack reported
Not from this morning, but hotel operator IHG LON:IHG released a statement late yesterday afternoon noting that it had been the subject of unauthorised activity onto its computer systems. The company has deployed its response plan but reports suggest that bookings via the website have been difficult to make since Sunday or Monday. There’s lost revenue to account for here, plus the potential of punitive fines from regulators. This news comes just literally hours after Go Ahead reported its cybersecurity breach.
