Shares in drug developer Starpharma Ltd (ASX: SPL) have jumped more than 10% after the company's Chief Executive Officer said that interest in the company's technology was "particularly strong''.
In its quarterly report released on Thursday, the company said it had increased its cash position by just under $4 million to $18.2 million, including an early-stage milestone payment from collaborator Genentech.
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Pipeline building up
Starpharma's Chief Executive Officer, Cheryl Maley, said the company successfully executed two partnership agreements in the first quarter of the year, and also had a solid lead into this year from the second quarter.
She went on to say:
Off the back of an intense second quarter, we have kicked off 2026 with great momentum and are harnessing every opportunity to accelerate our programs – be it radiopharmaceuticals or our early-stage opportunities. While our expert scientists continue concentrating on our internal projects and partnerships, our proprietary DEP platform is attracting increased industry attention on the back of our recent partnership announcements.
Ms Maley said earlier this month the company was represented in San Francisco at the JP Morgan and Biotech Showcase conferences, where the interest from other companies was strong.
She added:
There, we engaged in several high-impact discussions with current partners, promising new collaborators, and potential investors. With our recent partner announcements, the level of interest in Starpharma's technology was particularly strong and confirmed the market's growing recognition of our platform's potential. Access to Starpharma's proprietary dendrimer technology through our Star Navigator program appears to be of high interest to potential new partners.
Ms Maley said the strategic priorities for 2026 were clear:
Advancing our innovative radiotheranostic program into the clinic, progressing high-value discovery programs towards development, and securing revenue growth through asset licensing, new collaborations and product sales'.
Retail sales strong
The company also said it had increased marketing initiatives for its Viraleze product during the first half, "expanding the brand's digital presence through targeted campaigns on Meta and TikTok and launching an in-flight magazine campaign to maximise exposure throughout the Northern Hemisphere's peak cold and flu season''.
The company had a record month for sales in November, off the back of a Black Friday marketing campaign, and also expanded distribution through Amazon in the UK.
This resulted in an increase in sales of 70% over the previous corresponding period last year.
Starpharma shares were changing hands for 37.5 cents on Thursday, up 10.3%.
The company was valued at $142.8 million at the close of trade on Wednesday.
