Starpharma share price rockets to record high on DEP remdesivir COVID-19 news

The Starpharma Holdings Limited (ASX:SPL) share price is surging higher today after announcing the development of DEP remdesivir…

| More on:
woman testing substance in laboratory dish, csl share price

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Starpharma Holdings Limited (ASX: SPL) share price has been a positive performer on Tuesday.

In morning trade the dendrimer products developer's shares have jumped 12% to a record high of $1.70.

Why is the Starpharma share price storming higher?

Investors have been buying Starpharma's shares this morning after it announced the development of a slow release soluble DEP remdesivir nanoparticle.

According to the release, the company has applied its novel DEP drug delivery technology to create a long-acting, water soluble version of remdesivir.

Remdesivir is an antiviral drug which is currently being developed by US giant Gilead to treat COVID-19. It has emergency use authorisation from the US Food and Drug Administration for the treatment of COVID-19 in adults and children hospitalised with severe disease.

It has broad-spectrum antiviral activity. However, current formulations of remdesivir are required to be administered intravenously due to the drug's low solubility, with each infusion taking up to two hours and requiring daily administration for either 5 or 10 days.

Whereas, Starpharma's DEP remdesivir is a highly water-soluble nanoparticle formulation of remdesivir with controlled release properties. This would potentially allow for less frequent dosing and use in a non-hospital setting, such as aged care. Furthermore, the solubility of DEP remdesivir is 100-fold higher than standard remdesivir.

This means that DEP remdesivir's enhanced aqueous solubility would enable subcutaneous (under the skin) injection rather than intravenous infusion. This is a positive as it allows for outpatient treatment and would reduce the burden on hospitals.

Management commentary.

The company's CEO, Dr Jackie Fairley, was very pleased with the development.

She said: "Given the limited treatment options available for COVID-19 patients, Starpharma has been actively reviewing development programs globally, and evaluating where Starpharma's proprietary DEP technology has potential to improve delivery, expand use or reduce frequency of dosing."

"The ability to deliver remdesivir via a long-acting, subcutaneous injection has the potential to expand its application outside hospitals, into settings like aged care, and also facilitate its use in countries with less developed healthcare systems. It would also improve patient convenience and reduce the burden on the healthcare system. We're pleased to be able to utilise the DEP platform to improve the delivery of this important antiviral medicine," she added.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to the trading week for investors this Friday.

Read more »

A young boy points and smiles as he eats fried chicken.
Share Gainers

3 ASX All Ords shares smashing the benchmark this week

Investors are sending these three ASX All Ords shares rocketing 18% to more than 29% this week. But why?

Read more »

watch
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

Disappointed man with his head on his hand looking at a falling share price his a laptop.
Share Fallers

Why APA, Flight Centre, Reece, and Transurban shares are falling today

These shares are having a tough finish to the week. But why?

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Alliance Aviation, BHP, Boss Energy, and Orthocell shares are racing higher

These shares are ending the week on a positive note. But why?

Read more »

Mum playing with her baby boy holding him on her tummy as she lays down while smiling about the Bubs share price going up today
Broker Notes

Following two unfortunate incidents, what's Macquarie's price target on Monash IVF shares?

Is Monash IVF a buying opportunity?

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Broker Notes

Macquarie tips 18% return for this ASX 200 stock

The broker thinks this blue chip's profits are going to rebound in FY 2026.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Broker Notes

Bell Potter names more of the best ASX 200 shares to buy in FY26

These shares are among the best to buy in the new financial year according to its analysts.

Read more »