Starpharma (ASX:SPL) - CEO, Dr Jackie Fairley
CEO, Dr Jackie Fairley
Source: Dr Jackie Fairley/LinkedIn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Starpharma (SPL) records $1.8 million in receipts from customers for the December quarter, primarily due to the launch of VIRALEZE in Vietnam
  • VIRALEZE launched in Vietnam in December with the product to be distributed by Truong Bao Land International Investment Company
  • VIRALEZE also launched in Italy in October following a distribution agreement with ADMENTA Italia Group
  • Starpharma burnt through $4.23 million in the quarter, leaving more than $53.13 million in total available funding
  • Shares in Starpharma are up 1.01 per cent on the market and are trading at $1.01

Starpharma (SPL) recorded $1.8 million in receipts from customers for the December quarter, primarily due to the launch of VIRALEZE in Vietnam.

The sum of $1.8 million is a 188 per cent increase from the prior quarter.

Starpharma’s VIRALEZE nasal spray contains antiviral agent SPL7013 which works by slowing down the infection of host cells before and after exposure to respiratory viruses.

From there, it blocks the interaction between viral surface proteins and human cell receptor proteins.

The product launched in Vietnam in December with the formal launch attended by clinicians, healthcare professionals, politicians and media representatives.

VIRALEZE is supplied under a distribution arrangement with Healthco Australia and Vietnam-based Truong Bao Land International Investment Company (TBL).

TBL will use local medical distribution networks in the country to distribute the product.

Additionally, VIRALEZE was launched in Italy in October following a distribution agreement with ADMENTA Italia Group.

Under the agreement, Starpharma will supply VIRALEZE while ADMENTA will be responsible for the distribution, sales and marketing of the product.

VIRALEZE has now been registered for sale in Saudi Arabia and New Zealand, taking the number of countries where VIRALEZE is registered to more than 30.

“Starpharma’s antiviral nasal spray, VIRALEZE, was successfully launched in Vietnam, with Starpharma having received orders totalling more than $2 million to date,” CEO Dr Jackie Fairley said.

“We were excited to see the product so well received and pleased to see VIRALEZE playing a role in the fight against COVID-19 in that region.”

Starpharma burnt through $4.23 million in the quarter with the majority going towards staff costs and research and development. The company also invested $40,000 in its property, plant and equipment.

As of December 31, Starpharma had more than $53.13 million in total available funding, representing 12.6 quarters of use if spending levels remain the same.

Shares in Starpharma were up 1.01 per cent on the market and were trading at $1.01 at 11:51 am AEDT.

SPL by the numbers
More From The Market Herald
IGO (ASX:IGO) - CEO & Managing DIrector, Peter Bradford

" IGO (ASX:IGO) produces first battery-grade lithium hydroxide from Kwinana refinery

IGO (ASX:IGO) has produced the first battery-grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery in…

" Seafarms (ASX:SFG) appoints Rod Dyer as CEO among executive changes

Seafarms (ASX:SFG) has appointed Rod Dyer as CEO, effectively immediately.
Recce Pharmaceuticals (ASX:RCE) - Chief Executive Officer, James Graham

" Recce Pharmaceuticals’ (ASX:RCE) clinical trial returns positive safety profile

Recce Pharmaceuticals (ASX:RCE) has seen its clinical trial receive a good safety profile among ten healthy…

" Althea (ASX:AGH) enters Irish medicinal cannabis market

Althea (ASX:AGH) has received approval from the Health Products Regulatory Authority (HPRA) for its CBD12:THC10 product…