London (CNN Business) Investor enthusiasm about potential Covid-19 treatment is sparking a spectacular run-up in the stock of a small British biotech company. Shares of Synairgen soared more than 450% in London on Monday after the company reported positive early results from a Phase 2 trial of a potential Covid-19 drug. The company said the trial, which involved 101 hospital patients in the United Kingdom, showed the treatment greatly reduced the number of patients needing intensive care and accelerated recovery. Interferon beta is a multiple sclerosis treatment that has been approved for use by injection in a number of other trialsSynairgen CEO Richard Marsden described the results as a "major breakthrough." He said the biotech company would look for approval to bring the treatment to market after further trials.

Source: CNN July 20, 2020 14:48 UTC