The Starpharma Holdings Ltd (ASX: SPL) share price is lifting this afternoon after a bumpy morning of trading. This follows the company release of a sales update today on an anti-viral product against COVID-19.
At the time of writing, the biopharmaceutical company’s shares are up 3.56%, trading at $1.31.
In comparison, the S&P/ASX 200 Health Care Index (ASX: XHJ) is currently down 0.13% today.
What did Starpharma announce today?
Starpharma revealed it has received orders worth more than $2 million for its Viraleze antiviral nasal spray.
The company launched the product for commercial sale in Vietnam last week, as reported by Motley Fool Australia.
The nasal spray is said to show antiviral activity against multiple COVID-19 variants and other respiratory viruses including influenza.
Starpharma highlighted that Vietnam was in the midst of a serious Delta outbreak among its 98 million population. It noted that Viraleze was now available in that country “to retail consumers, clinics, hospitals and pharmacies through local medical distribution networks”.
Viraleze is available in Europe, Vietnam, India and New Zealand. The company is also advancing discussions with potential commercial partners in other countries.
Comment from management
CEO Jackie Fairley welcomed the update, saying:
We are delighted that the launch of Viraleze in Vietnam was so successful and has already generated significant sales.
This demand is indicative of the significant need for products like Viraleze which are complementary to vaccines and other preventative strategies.
Starpharma share price snapshot
Over the last 12 months, Starpharma shares have ranged 10% lower, falling 16.2% this year to date.
In contrast, the benchmark S&P/ASX 200 index (ASX: XJO) has returned about 11% in the previous 12 months.
This month, the Starpharma share price has gained more than 24%.
The post What is happening to the Starpharma (ASX:SPL) share price today? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Starpharma right now?
Before you consider Starpharma , you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Starpharma wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
More reading
- Starpharma (ASX:SPL) share price shoots 6% higher on Roche agreement
- Starpharma (ASX:SPL) share price climbs 3% on back of Vietnam launch
- Why Bellevue Gold, South32, Starpharma, and Tuas shares are pushing higher
- The Starpharma (ASX: SPL) share price surges on Vietnam launch
- Starpharma (ASX:SPL) share price jumps 6% following AGM
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3pJQrqU
Leave a Reply