Starpharma today released its Appendix 4C – Quarterly Cashflow Report for the period ended 31 March 2020.
Starpharma’s cash balance as at 31 March 2020 was $36.1 million, an increase of $0.2 million compared to the previous quarter’s cash balance. Net operating cash outflows for the quarter were $0.9 million, or $6.0 million for the nine months to 31 March 2020. Starpharma’s strong cash reserves and clean balance sheet places the Company in a strong position to continue to progress its commercial and R&D activities in the current uncertain global environment of the COVID-19 pandemic.
Starpharma today announced that following the successful launch of the VivaGel® antiviral condom by Okamoto Industries, Inc. (TYO: 5122:JP; Okamoto) in Japan, Okamoto has sought an expansion to its licence territory for the VivaGel® condom. As a result, Starpharma has granted Okamoto marketing rights to a further 11 countries in Asia which include South Korea, Indonesia, Malaysia, Thailand, Singapore and the non-government China market.
Starpharma today announced that Mr David McIntyre has commenced as an independent non-executive director of Starpharma, effective 1 March. Mr McIntyre’s appointment follows a comprehensive Board renewal and search process. As advised at the Company’s last AGM, Mr Richard Hazleton will be retiring at the 2020 AGM in November, having served 13 years on the Company’s Board. The timing of Mr McIntyre’s appointment enables a smooth transition and handover between directors.
NASDAQ covered the news that Starpharma’s VivaGel® active, astodrimer sodium (SPL7013), showed significant antiviral activity against the coronavirus that causes COVID-19. The piece noted the testing was conducted by an external laboratory, 360Biolabs.
Leading biotech industry portal BioSpace covered Starpharma’s finding that its proprietary dendrimer SPL7013 showed significant activity against SARS-CoV-2, the coronavirus that causes COVID-19. It noted Starpharma will evaluate product concepts and formulation options for SPL7013 which may have potential applications in the prevention and management of COVID-19.
Biotech Dispatch reported that AstraZeneca has paid Starpharma a $4.5 million milestone payment following the successful dosing of the first patient in the phase 1 clinical trial of AZD0466. The article mentioned the long standing partnership between the two companies which is focused on using Starpharma’s DEP® drug delivery platform to enhance AstraZeneca’s medicines.
The Motley Fool reported a rise in Starpharma’s share price off the back of the announcement that its VivaGel® BV product will be launched in Asia by Mundipharma. The article highlighted that the deal is an important commercial opportunity for Starpharma with the product set to be accessible to more than 1.5 billion women.