<ul><li>UK <keyword id="45082" type="PERSON" weightage="60" keywordseo="biotech">biotech</keyword> firm <a href="https://markets.businessinsider.com/stocks/synairgen-stock">Synairgen</a> surged as much as 552% on Monday after the company announced its experimental coronavirus drug helped curb the contraction of serious <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> symptoms.</li><li>The SNG001 drug cut the odds of a patient requiring ventilation or dying by 79% compared to those receiving a placebo, the company said.</li><li>The firm is now focused on working with regulators to progress the treatment "as rapidly as possible," CEO Richard Marsden said in a <a href="https://www.synairgen.com/wp-content/uploads/2020/07/200720-Synairgen-announces-positive-results-from-trial-of-SNG001-in-hospitalised-COVID-19-patients.pdf">press release</a>.</li><li><a href="https://markets.businessinsider.com/stocks/synairgen-stock">Watch Synairgen trade live here</a>.</li></ul>Shares of small UK biotech firm <a href="https://markets.businessinsider.com/stocks/synairgen-stock">Synairgen</a> spiked as much as 552% higher on Monday after the company revealed its experimental coronavirus drug was mostly successful in preventing the development of serious COVID-19 symptoms.The company's SNG001 drug reduced the odds of a patient needing ventilation or dying by 79% compared to those receiving a placebo, the company said Monday. Patients receiving the drug were also more than twice as likely to recover and experienced a "markedly reduced" level of breathlessness."This assessment of SNG001 in COVID-19 patients could signal a major breakthrough in the treatment of hospitalized COVID-19 patients," CEO Richard Marsden said in a <a href="https://www.synairgen.com/wp-content/uploads/2020/07/200720-Synairgen-data-readout-final-version.pdf">press release</a>. "Our efforts are now focused on working with the regulators and other key groups to progress this potential <keyword id="8918466" type="UNKNOWN" weightage="60" keywordseo="covid-19-treatment">COVID-19 treatment</keyword> as rapidly as possible."Read more: <a href="https://www.businessinsider.com/investing-advice-coronavirus-recovery-trades-with-huge-upside-margaret-vitrano-2020-7">A $47 billion fund manager shares 3 trades she's making for huge upside as the economy recovers — including a play on the Tesla-led boom of electric vehicles</a><keyword id="2324292" type="PERSON" weightage="60" keywordseo="Synairgen">Synairgen</keyword>'s trial involved 220 subjects in the UK. Further analysis of the trial's results will take place over the coming weeks.The stock's Monday leap follows similar upswings for biotech stocks racing to introduce the first effective <keyword id="8631081" type="UNKNOWN" weightage="60" keywordseo="Coronavirus-treatment">coronavirus treatment</keyword>. Industry giants including Pfizer, AstraZeneca, and Gilead are among the several firms with drugs undergoing trials.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-outperformance-most-innovative-companies-bofa-2020-7" target="_blank" rel="noopener">BANK OF AMERICA: Buy these 9 stocks poised to outperform in any market environment as they spend heavily on creating the most innovative products</a><a href="https://markets.businessinsider.com/news/stocks/moderna-stock-price-positive-coronavirus-covid-vaccine-trial-result-2020-7-1029397489">Moderna soared as much as 18%</a> on Thursday after its experimental drug safely produced antibodies in all 45 of its Phase 1 trial participants.Synairgen's stock traded at 232.23 pence ($2.91) per share as of 8:30 ET Monday, up 3,185% year-to-date.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/tech-stock-prices-not-bubble-climb-higher-market-strategist-economy-2020-7-1029407369">Here's why one expert says scorching-hot tech stocks are far less vulnerable than they were during the dot-com bubble — and why they can keep climbing</a><a href="https://markets.businessinsider.com/news/stocks/economic-outlook-consumer-sentiment-reverses-rebound-coronavirus-spike-university-michigan-2020-7-1029405698">US consumer sentiment reverses rebound amid 'widespread resurgence' of coronavirus, new survey says</a><a href="https://www.businessinsider.com/wall-street-guru-shane-parrish-warren-buffett-could-still-triumph-2020-7">Wall Street's biggest influencer says Warren Buffett might look 'out of touch' but that's a key element of his success</a><a href="https://markets.businessinsider.com/stocks/synairgen-stock"><div type="image" title="SNG" height="1374" width="1996" msid="77069095" hostid="261"></div></a>

UK biotech firm skyrockets 552% after drug lowers odds of serious COVID-19 symptoms

<ul><li>Synairgen said its SNG001 formulation uses a protein called interferon beta, which the body produces when it gets a viral infection, and is inhaled directly into the lungs of patients with <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>, using a nebuliser, in the hope that it will stimulate an immune response.</li><li>We are all delighted with the trial results announced today, which showed that SNG001 greatly reduced the number of hospitalised COVID-19 patients who progressed from requiring oxygen' to requiring ventilation'. </li><li>In addition, SNG001 significantly reduced breathlessness, one of the main symptoms of severe COVID-19, the company said, which is now focused on working with the regulators and other key groups to progress the potential COVID-19 treatment as rapidly as possible. </li></ul> A UK-based biotech company on Monday declared positive "breakthrough" results from a clinical trial of a protein-based treatment for COVID-19, which "greatly" reduced patients requiring intensive care. Synairgen said its SNG001 formulation uses a protein called interferon beta, which the body produces when it gets a viral infection, and is inhaled directly into the lungs of patients with coronavirus, using a nebuliser, in the hope that it will stimulate an immune response. "This assessment of SNG001 in COVID-19 patients could signal a major breakthrough in the treatment of hospitalised COVID-19 patients, said Richard Marsden, CEO of Synairgen, a respiratory drug discovery and development company which originated from research at the University of Southampton. We are all delighted with the trial results announced today, which showed that SNG001 greatly reduced the number of hospitalised COVID-19 patients who progressed from requiring oxygen' to requiring ventilation'. It also showed that patients who received SNG001 were at least twice as likely to recover to the point where their everyday activities were not compromised through having been infected by SARS-CoV-2 (COVID-19), he said. In addition, SNG001 significantly reduced breathlessness, one of the main symptoms of severe COVID-19, the company said, which is now focused on working with the regulators and other key groups to progress the potential COVID-19 treatment as rapidly as possible. The trials showed that the average time coronavirus patients spent in hospital was reduced by a third, for those receiving the new drug down from an average of nine days to six days. The double-blind trial involved 101 volunteers who had been admitted for treatment at nine UK hospitals for COVID-19 infections. Half of the participants were given the drug, the other half got placebo an inactive substance. The results, published by the company under its stock market obligations, have not been published in a peer-reviewed journal as yet. "The results confirm our belief that interferon beta, a widely known drug that, by injection, has been approved for use in a number of other indications, has huge potential as an inhaled drug to be able to restore the lungs' immune response, enhancing protection, accelerating recovery and countering the impact of SARS-CoV-2 virus, said Professor Tom Wilkinson, Professor of Respiratory Medicine at the University of Southampton and Trial Chief Investigator. Professor Stephen Holgate, Medical Research Council Clinical Professor of Immunopharmacology at the University of Southampton and Co-Founder of Synairgen, added, recognising that SARS-CoV-2 is known to have evolved to evade the initial antiviral response of the lung, our inhaled treatment of giving high local concentrations of interferon beta, a naturally occurring antiviral protein, restores the lung's ability to neutralise the virus, or any mutation of the virus or co-infection with another respiratory virus such as influenza orV, as could be encountered in the winter if there is a resurgence of COVID-19. Synairgen's drug trial was the template for the Accord programme, a fast-track clinical trial scheme set up by the UK government in April to accelerate the development of new drugs for patients with COVID-19. The team believes the drug could be even more effective at the early stages of infection. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-wipro-open-up-lateral-hiring-as-more-people-walk-out-the-door-during-the-covid-19-pandemic/articleshow/77045880.cms">TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic</a> <a href="https://www.businessinsider.in/international/news/the-world-health-organization-reported-back-to-back-record-high-daily-increases-in-new-coronavirus-cases/articleshow/77045335.cms">The World Health Organization reported back-to-back record-high daily increases in new coronavirus cases</a> <a href="https://www.businessinsider.in/science/research/news/nasa-warns-of-a-massive-asteroid-bigger-than-the-famous-london-eye-approaching-earth-on-july-24/articleshow/77052200.cms">NASA warns of a massive asteroid bigger than the famous London Eye approaching Earth on July 24</a>

UK firm declares positive results from COVID-19 protein treatment

<ul class="summary-list"><li>Treating COVID-19 could be simpler soon, thanks to the next generation of treatments.</li><li>These could come in the form of <keyword id="12258955" type="UNKNOWN" weightage="60" keywordseo="pills" source="Orion">pills</keyword>, nasal sprays, or inhalers.</li><li>On Monday, Merck asked the FDA to authorize its <keyword id="12216042" type="UNKNOWN" weightage="60" keywordseo="antiviral" source="Orion">antiviral</keyword> pill, which would be the first <keyword id="11959748" type="UNKNOWN" weightage="60" keywordseo="covid-19-treatment" source="Orion">COVID-19 treatment</keyword> of its kind. </li></ul>COVID-19 could get a lot easier to treat in the near future.Thus far, doctors have relied on expensive, invasive drugs that are limited in supply and often complicated to administer. But biotech and pharma companies are now working on simpler treatments that people could take as pills, nasal sprays, or inhalers. An antiviral drug from Merck and Ridgeback Biotherapeutics is on track to become the first pill authorized to treat COVID-19. On Monday, the companies asked the Food and Drug Administration (FDA) to <a href="https://www.businessinsider.com/merck-covid-pill-fda-eua-authorization-antiviral-molnupiravir-drug-ridgeback-2021-10v">authorize that treatment</a>, which was found to reduce the risk of hospitalization or death among adults with mild to moderate COVID-19. If the FDA thinks the data is sound enough, it could greenlight the pill within weeks. So far, the FDA has fully approved just one treatment for COVID-19: the antiviral drug remdesivir, which is administered via injection. The drug has been shown to <a href="https://www.nejm.org/doi/full/10.1056/nejmoa2007764">shorten the recovery time</a> of hospitalized patients.The FDA also authorized the emergency use of <a href="https://www.businessinsider.com/tennessee-vaccinated-denied-monoclonal-antibody-treatment-2021-9">monoclonal antibodies</a>, drugs that help keep people with mild or moderate symptoms from developing severe COVID-19. These come in two forms: infusions or injections.Pills or sprays, however, could make it easier for people to treat COVID-19 symptoms right away, perhaps without needing to visit hospitals. Pills are also likely to be cheaper than antibody infusions, which are free for patients but cost the US government <a href="https://www.npr.org/sections/health-shots/2020/10/28/928841997/government-signs-deal-for-covid-19-treatments-from-eli-lilly">more than $1,000 per dose</a>.The following drugs have shown the most promise in trials as potential COVID-19 treatments. None of them is a replacement for vaccines, though.<h2>Antiviral pills could lower the risk of hospitalization</h2><div type="image" title="Capsules of molnupiravir, an antiviral drug developed by Merck and Ridgeback Biotherapeutics that could treat COVID-19" height="2002" width="3000" msid="86820470" hostid="261"></div>Warding off severe COVID-19 could eventually be as simple as taking a few pills.Merck's antiviral, molnupiravir, was originally developed as a treatment for the flu. Now it's being evaluated for mild to moderate COVID-19 in a study of nearly 1,900 volunteers. So far, the pill has <a href="https://www.businessinsider.com/merck-covid-pill-fda-eua-authorization-antiviral-molnupiravir-drug-ridgeback-2021-10">halved the risk</a> of hospitalization or death among a group of 385 people, Merck <a href="https://www.merck.com/news/merck-and-ridgebacks-investigational-oral-antiviral-molnupiravir-reduced-the-risk-of-hospitalization-or-death-by-approximately-50-percent-compared-to-placebo-for-patients-with-mild-or-moderat/">announced earlier this month</a>. The participants took 40 pills in total: four capsules twice a day for five days.The pill belongs to a class of antiviral drugs called nucleosides, which try to block the virus from replicating inside cells.Two other companies, <keyword id="11909248" type="UNKNOWN" weightage="60" keywordseo="roche" source="Orion">Roche</keyword> and Atea Pharmaceuticals, are also jointly developing a nucleoside pill. That drug, called AT-527, was shown to <a href="https://ir.ateapharma.com/news-releases/news-release-details/ateas-527-oral-antiviral-drug-candidate-reduces-viral">reduce the amount of virus present</a> in hospitalized patients with moderate COVID-19. The study was small, though - around 60 people - so Roche is waiting on data from a study of nearly 1,400 people, which could be available before the end of the year.<h2>Not all prospective COVID-19 pills are the same</h2>Other companies are developing antiviral pills called protease inhibitors, which target an enzyme involved in the viral replication process.<keyword id="11897118" type="UNKNOWN" weightage="60" keywordseo="pfizer" source="Orion">Pfizer</keyword> is testing such a drug in combination with a low dose of another antiviral that slows the breakdown of the drug so it lasts longer in the body. The company kicked off a 3,000-person study in July and hopes to get data before the end of 2021.Meanwhile, a protease inhibitor from Japanese drugmaker Shionogi could help people with mild or asymptomatic infections. The company <a href="https://www.shionogi.com/global/en/news/2021/09/e-210928.html">began a late-stage study in September</a>. Two smaller biotech companies - Pardes Biosciences and Enanta Pharmaceuticals - are working on their own protease inhibitors, but they're far from late-stage studies. Pardes launched a 110-person trial in August, and those results could be ready by the end of the year. Enanta hopes to start initial testing of its pill in people in early 2022. The company previously developed a treatment for hepatitis C.<h2>Nasal sprays may be useful immediately after exposure to the virus</h2><div type="image" title="covid nasal spray" height="4024" width="6048" msid="86820473" hostid="261"></div>The <keyword id="11893194" type="UNKNOWN" weightage="60" keywordseo="coronavirus" source="Orion">coronavirus</keyword> first invades the body through the nose, eyes, and throat, so scientists think there's an advantage to administering treatments directly into those areas. Nasal sprays, for instance, could kill or weaken the virus in the upper airways, before it spreads to the lungs, where it's likely to cause the most damage.A <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8117664/">May study</a> found that a nasal spray from the biotech company SaNOtize reduced the amount of virus present among 40 people with mild COVID-19. The spray uses a colorless gas called nitric oxide that's found naturally in the body. Israel is now offering that drug in pharmacies.Another company, IGM Biosciences, is developing a nasal spray that contains an antibody engineered to neutralize the coronavirus. The spray <a href="https://igmbio.com/2021/06/03/igm-biosciences-announces-expansion-of-igm-platform-into-infectious-diseases-publication-of-preclinical-data-in-nature-demonstrating-engineered-igm-antibody-antiviral-activity-for-the-treatment-and-p/">reduced the amount of virus in the lungs of mice</a>, but scientists don't yet know whether it will be effective in humans. Zhiqiang An, a professor of molecular medicine who's involved in the research, <a href="https://www.nature.com/articles/d41586-021-01481-2">told Nature</a> that the spray could eventually serve as an emergency treatment after someone has been exposed to the coronavirus.<h2>Inhalers could shorten recovery among hospitalized patients</h2><div type="image" title="covid inhaler" height="3306" width="4959" msid="86820477" hostid="261"></div>A couple of inhaled COVID-19 medicines are also showing promise, though more research is needed.<a href="https://www.thelancet.com/journals/lanres/article/PIIS2213-2600(20)30511-7/fulltext">In a study of about 100 hospitalized COVID-19 patients</a>, an <keyword id="12258956" type="UNKNOWN" weightage="60" keywordseo="inhaler" source="Orion">inhaler</keyword> from Synairgen was found boost the odds of improvement and lead to quicker recovery times relative to patients who received a placebo.The inhaler uses a naturally occurring protein to stimulate the immune response in the lungs. Synairgen <a href="https://www.synairgen.com/umbraco/Surface/Download/GetFile?cid=1c48c82b-86ce-4aa3-9613-3fcf2f7b2e7a">expects results</a> from a late-stage study in hospitalized patients in early 2022.A large study also found benefits from inhaled budesonide, a generic anti-inflammatory drug that treats asthma and chronic obstructive pulmonary disease. <a href="https://www.thelancet.com/pdfs/journals/lancet/PIIS0140-6736(21)01744-X.pdf">A UK study in high-risk COVID-19 patients</a> found that budesonide helped people recover about three days faster than those who received standard care. But the same study found that budesonide didn't significantly reduce hospitalizations or deaths.This story has been updated with new information. It was originally published October 6.

The first-ever COVID-19 pill may be just weeks away. A handful of other pills, inhalers, and nasal sprays also show promise.

<ul><li>US stocks erased early losses and climbed on Monday as tech giants soared and investors cheered positive COVID-19 drug trial results.</li><li>Tech mega-caps including <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a>, and <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a> all soared as investors continued crowding in popular stay-at-home trades.</li><li><a href="https://markets.businessinsider.com/stocks/astrazeneca-stock">AstraZeneca</a> and <a href="https://markets.businessinsider.com/stocks/synairgen-stock">Synairgen</a> both revealed optimistic trial data for their experimental coronavirus vaccines, though only the latter's stock jumped.</li><li>Oil similarly reversed its slide and traded higher, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> gaining as much as 0.8%, to $40.91 per barrel.</li><li><a href="https://markets.businessinsider.com/indices">Watch major indexes update live here</a>.</li></ul>US stocks climbed on Monday after erasing early losses as tech giants rallied and investors focused on positive COVID vaccine The <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> notched its highest level since February, bolstered by <keyword id="552967" type="PERSON" weightage="60" keywordseo="tech-stocks">tech stocks</keyword>' outperformance. <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, <a href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a>, and <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a> all soared through the session. <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> rocketed higher after Goldman Sachs boosted its price target to <a href="https://markets.businessinsider.com/news/stocks/amazon-stock-upside-street-high-price-target-goldman-sachs-tie-2020-7-1029410889">match the Wall Street high</a>. The tech-heavy <keyword id="156451" type="ORGANIZATION" weightage="60" keywordseo="Nasdaq-Composite">Nasdaq Composite</keyword> notched a record high.Here's where US indexes stood at the 4 p.m. ET market close on Monday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,251.84, up 0.8%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 26,680.87, up 0.1% (9 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 10,767.09, up 2.5%</li></ul>Read more: <a href="https://www.businessinsider.com/real-estate-investing-strategy-subdividing-large-lots-flipping-leka-devatha-2020-7" target="_blank" rel="noopener">Leka Devatha quit a cushy corporate career to start flipping houses. She breaks down how she made $1 million on a single deal by supercharging a simple strategy.</a>The tech sector's outperformance follows a muted week. Netflix's Thursday earnings disappointment prompted concerns for the group. Investors will gain a clearer picture of how tech names performed through the coronavirus-induced slump this week as Microsoft, <a href="https://markets.businessinsider.com/stocks/intc-stock">Intel</a>, and <a href="https://markets.businessinsider.com/stocks/twtr-stock">Twitter</a> are slated to reveal quarterly figures.Investors also digested a mix of news from trials of coronavirus drugs and vaccines. A UK biotech firm, Synairgen, <a href="https://markets.businessinsider.com/news/stocks/synairgen-stock-price-drug-lowers-odds-covid-coronavirus-symptoms-risk-2020-7-1029409951">spiked as much as 552%</a> on Monday after announcing that its drug was associated with a significantly lower chance of a patient requiring a ventilator or dying.<a href="https://markets.businessinsider.com/stocks/astrazeneca-stock">AstraZeneca</a> shares <a href="https://markets.businessinsider.com/news/stocks/astrazeneca-stock-price-reaction-oxford-covid19-trial-positive-results-2020-7-1029410447">slumped</a> after results of an early-stage trial indicated that participants who received the experimental vaccine had increased levels of antibodies and T cells targeting the virus. The company's shares traded as much as 10% higher in London as traders waited for the results. Yet the shares erased gains and turned lower in New York after researchers reiterated that the data was only preliminary and analysts said the results came in were below par.Read more: <a href="https://www.businessinsider.com/investing-advice-coronavirus-recovery-trades-with-huge-upside-margaret-vitrano-2020-7" target="_blank" rel="noopener">A $47 billion fund manager shares 3 trades she's making for huge upside as the economy recovers — including a play on the Tesla-led boom of electric vehicles</a>Officials including Senate Majority Leader Mitch McConnell and Treasury Secretary Steven Mnuchin met in the White House on Monday to <a href="https://www.businessinsider.com/economic-coronavirus-stimulus-bill-focus-schools-unemployment-checks-vaccines-mnuchin-2020-7">discuss another coronavirus stimulus package</a>. Mnuchin indicated they want to keep spending to about $1 trillion, well below House Speaker Nancy Pelosi's $3.5 trillion relief plan. He also said the bill will focus on "kids and jobs and vaccines.""We'll have tax credits for PPE, for safe work environments, and we're going to have big incentives, money to the states for education, for schools that can open safely and do education," the Treasury Secretary said.The talks arrive days before key aid efforts are extinguished. A $600-a-week unemployment-benefits expansion is set to expire later in July, and a short-term extension to the Paycheck Protection Program is set to end on August 8. Mnuchin didn't specify whether the current expansion will be renewed, and instead said Republicans are looking for a "technical fix" for the program that doesn't pay Americans more to stay out of work.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-outperformance-most-innovative-companies-bofa-2020-7" target="_blank" rel="noopener">BANK OF AMERICA: Buy these 9 stocks poised to crush the market in any market environment as they spend heavily on innovation</a>Oil similarly erased early gains and turned higher. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> gained as much as 0.8%, to $40.91 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">Brent crude</a>, oil's international standard, jumped 0.7%, to $43.45 per barrel, at intraday highs.Trading activity remained subdued following an unusually quiet session on Friday. Equities closed mixed to end last week as investors mulled Netflix's earnings miss and gloomy consumer-sentiment data. The S&amp;P 500 and the Dow finished the week with gains just above 1%.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/next-stock-market-crash-danger-zone-morgan-stanley-andrew-sheets-2020-7" target="_blank" rel="noopener">Morgan Stanley lays out 4 looming risks that are combining to halt the relentless rally and push stocks into 'the danger zone'</a><a href="https://markets.businessinsider.com/news/stocks/tech-stock-market-rally-similar-dot-com-bubble-mark-cuban-2020-7-1029410679">'Everybody's a genius in a bull market': Mark Cuban says behavior around the stock market's current rally is eerily similar to the 1999 dot-com bubble</a><a href="https://www.businessinsider.com/economic-outlook-coronavirus-case-resurgence-risks-w-shaped-recession-gdp-2020-7">Spiking COVID cases raise risk of a W-shaped economic cycle with a 2nd downturn, IHS Markit says</a>

S&P 500 hits highest level since February as tech stocks spike

<ul><li><keyword id="528994" type="PERSON" weightage="60" keywordseo="oil-futures">Oil futures</keyword> soared to their highest level since early March as investors grew more optimistic toward a near-term economic recovery.</li><li><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> leaped as much as 3.3%, to $42.16. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a> gained 3.4% to $44.75 at intraday highs.</li><li>The commodity market's early gains arrived after the European Union <a href="https://markets.businessinsider.com/news/stocks/coronavirus-stimulus-eu-recovery-fund-agree-historic-860-billion-plan-2020-7-1029413313">came to an agreement on a 750 billion euro ($858 billion) stimulus package</a> set to pull the bloc from its pandemic-induced recession.</li><li>Slowing coronavirus infection rates in the US further bolstered hopes for a near-term demand bounce.</li><li><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">Watch WTI crude contracts trade live here</a>.</li><li><a href="https://markets.businessinsider.com/commodities/oil-price">Watch Brent crude contracts trade live here</a>.</li></ul>Oil futures leaped to their highest level since early March on Tuesday as the European Union's new stimulus deal lifted hopes for economic recovery.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> contracts jumped as much as 3.3%, to $42.16 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, oil's international standard, rallied 3.4% to $44.75 at intraday highs.The commodity market's gains arrive after EU leaders came to an agreement on <a href="https://markets.businessinsider.com/news/stocks/coronavirus-stimulus-eu-recovery-fund-agree-historic-860-billion-plan-2020-7-1029413313">a 750 billion euro ($858 billion) stimulus package</a> early Tuesday morning. The measure aims to lift the coalition from coronavirus-fueled economic downturns through low-interest loans and grants. The deal's approval <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-surge-eu-agrees-860-bln-recovery-pact-2020-7-1029413887">boosted European stocks</a>."Before the pandemic, many investors doubted the EU would ever come near to forming a fiscal union, this deal was a step closer to that and alleviates any short-term concerns that another Brexit would happen," Edward Moya, senior market analyst at OANDA, said in a note.Read more: <a href="https://www.businessinsider.com/investing-strategy-tech-stock-trades-for-q2-earnings-morgan-stanley-2020-7">Morgan Stanley warns tech stocks are unusually vulnerable to earnings disasters over the next few weeks — and shares its strategy for profiting regardless of the outcomes</a>Investors are also hoping a slowdown in US virus case growth signals a peak for the virus' recent resurgence. California, Georgia, and North Carolina all reported a decrease in the pace of new COVID-19 cases on Monday. Containing the US's latest outbreaks would likely renew travel activity sooner and bolster oil demand.The latest updates from coronavirus vaccine trials gave oil bulls even more to cheer for. AstraZeneca and Oxford University announced Monday morning their vaccine <a href="https://www.businessinsider.com/astrazeneca-oxford-coronavirus-vaccine-led-to-human-immune-responses-2020-7?r=US&amp;IR=T?utm_source=markets&amp;utm_medium=ingestm=ingest">increased levels of coronavirus-targeting antibodies and T cells in patients</a>. Separately, UK biotech firm Synairgen revealed its experimental drug <a href="https://markets.businessinsider.com/news/stocks/synairgen-stock-price-drug-lowers-odds-covid-coronavirus-symptoms-risk-2020-7-1029409951?utm_source=markets&amp;utm_medium=ingestgest">dramatically lowered the odds</a> of COVID-19 patients needing a ventilator or dying compared to those taking a placebo.<keyword id="1065852" type="ORGANIZATION" weightage="60" keywordseo="WTI-crude">WTI crude</keyword> traded at $41.92 per barrel as of 8:40 a.m. ET Tuesday. Brent crude traded at $44.49.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/economic-coronavirus-stimulus-bill-focus-schools-unemployment-checks-vaccines-mnuchin-2020-7">Treasury Secretary Mnuchin says next coronavirus stimulus package will focus on 'kids and jobs and vaccines'</a><a href="https://markets.businessinsider.com/news/stocks/tech-stock-market-rally-similar-dot-com-bubble-mark-cuban-2020-7-1029410679">'Everybody's a genius in a bull market': Mark Cuban says behavior around the stock market's current rally is eerily similar to the 1999 dot-com bubble</a><a href="https://www.businessinsider.com/economic-coronavirus-stimulus-bill-focus-schools-unemployment-checks-vaccines-mnuchin-2020-7"></a><a href="https://www.businessinsider.com/how-to-invest-in-election-volatility-options-trades-goldman-sachs-2020-7">GOLDMAN SACHS: These 17 trades can help investors maximize their gains from the stocks most affected by the US elections in November</a><a href="https://www.businessinsider.com/economic-coronavirus-stimulus-bill-focus-schools-unemployment-checks-vaccines-mnuchin-2020-7"> </a><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti"><div type="image" title="WTI" height="1444" width="1996" msid="77088577" hostid="261"></div></a>

Oil soars to highest since March as investors boost optimism for economic recovery

<ul><li>US stocks slid on Monday as investors awaited updates on another coronavirus stimulus package.</li><li>Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin, and others are set to meet in the White House later on Monday to discuss another fiscal relief package.</li><li>The talks arrive as the unemployment-benefits expansion nears expiration.</li><li>Oil traded slightly lower, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> falling as much as 1.4%, to $40.04 per barrel.</li><li><a href="https://markets.businessinsider.com/indices">Watch major indexes update live here</a>.</li></ul>US stocks slid on Monday as investors continued to weigh soaring coronavirus cases in the US and the need for additional fiscal relief.Officials including Senate Majority Leader Mitch McConnell and Treasury Secretary Steven Mnuchin are set to meet in the White House on Monday to discuss another coronavirus stimulus package. House Speaker Nancy Pelosi has called for a deal worth roughly $3.5 trillion, though Republicans have indicated they want to keep spending to about $1 trillion.The talks arrive days before key aid efforts are extinguished. A $600-a-week unemployment-benefits expansion is set to expire later in July, and a short-term extension to the Paycheck Protection Program is set to end on August 8.Here's where US indexes stood shortly after the 9:30 a.m. ET market open on Monday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,219.99, down 0.2%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 26,561.30, down 0.4% (111 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 10,534.16, up 0.3%</li></ul>Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-outperformance-most-innovative-companies-bofa-2020-7" target="_blank" rel="noopener">BANK OF AMERICA: Buy these 9 stocks poised to outperform in any market environment as they spend heavily on creating the most innovative products</a>Investors digested a mix of news from trials of coronavirus drugs and vaccines. A UK biotech firm, Synairgen, <a href="https://markets.businessinsider.com/news/stocks/synairgen-stock-price-drug-lowers-odds-covid-coronavirus-symptoms-risk-2020-7-1029409951">spiked as much as 552%</a> on Monday after announcing that its drug was associated with a significantly lower chance of a patient requiring a ventilator or dying.<a href="https://markets.businessinsider.com/stocks/astrazeneca-stock">AstraZeneca</a> shares slumped after results of an early-stage trial published in The Lancet indicated that participants who received the experimental vaccine had increased levels of antibodies and T cells targeting the virus. The company's shares traded as much as 10% higher in London as traders waited for the results, but they erased gains and turned lower in New York after researchers reiterated that the data was only preliminary.Oil traded lower but stayed above $40 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> fell as much as 1.4%, to $40.04 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">Brent crude</a>, oil's international standard, slid 1.4%, to $42.53 per barrel, at intraday lows.Read more: <a href="https://www.businessinsider.com/investing-advice-coronavirus-recovery-trades-with-huge-upside-margaret-vitrano-2020-7" target="_blank" rel="noopener">A $47 billion fund manager shares 3 trades she's making for huge upside as the economy recovers — including a play on the Tesla-led boom of electric vehicles</a>Trading activity remained subdued following an unusually quiet session on Friday. Equities closed mixed to end last week as investors mulled Netflix's earnings miss and gloomy consumer-sentiment data. The <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> and the Dow finished the week with gains just above 1%.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/next-stock-market-crash-danger-zone-morgan-stanley-andrew-sheets-2020-7" target="_blank" rel="noopener">Morgan Stanley lays out 4 looming risks that are combining to halt the relentless rally and push stocks into 'the danger zone'</a><a href="https://markets.businessinsider.com/news/stocks/tech-stock-prices-not-bubble-climb-higher-market-strategist-economy-2020-7-1029407369">Here's why one expert says scorching-hot tech stocks are far less vulnerable than they were during the dot-com bubble — and why they can keep climbing</a><a href="https://markets.businessinsider.com/news/stocks/economic-outlook-consumer-sentiment-reverses-rebound-coronavirus-spike-university-michigan-2020-7-1029405698">US consumer sentiment reverses rebound amid 'widespread resurgence' of coronavirus, new survey says</a>

You Searched For "Synairgen" and got 6 results

UK biotech firm skyrockets 552% after drug lowers odds of serious COVID-19 symptoms

Ben Winck

UK firm declares positive results from COVID-19 protein treatment

BI India Bureau

The first-ever COVID-19 pill may be just weeks away. A handful of other pills, inhalers, and nasal sprays also show promise.

Aria Bendix,Andrew Dunn

S&P 500 hits highest level since February as tech stocks spike

Ben Winck

Oil soars to highest since March as investors boost optimism for economic recovery

Ben Winck

US stocks slip as investors wait for new coronavirus stimulus from Congress

Ben Winck