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.
Image source: Getty Images.
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%.
