Synairgen has widened its H1 pretax loss to £1.7m, from a year-earlier loss of £1.0m. Revenue was nil, from £25,000.
"We are very pleased with the progress AstraZeneca is making with AZD9412 in asthma and look forward to the results being announced in 2017," the company said in a statement.
"We are also very encouraged by the progress being made in the collaboration with Pharmaxis.
"Early data suggests that the compounds reduce cross-link formation in IPF tissue models, providing in vitro proof of concept. We are on schedule to start a Phase I clinical trial in 2017.
"We continue to seek out programmes where we can add value through the use of our BioBank and in vitro models."
At 9:50am: (LON:SNG) Synairgen PLC share price was 0p at 35p