By Geoffrey Smith Investing.com – For the past two months, it’s vaccine developers that have made headlines, but for anyone still looking to expose themselves to the medical campaign against the virus, they are not the only work available. UK-listed small-cap Synairgen (LON 🙂 shares rose more than 10% on Wednesday after announcing the start of a phase 3 trial for an inhaler-administered interferon beta treatment, which according to early results of the tests reduces both the severity of the infection and the subsequent recovery hour. The news comes in the context of a sharp deterioration in the public health situation in the UK, which has pushed the country’s hospital system to the limit. Anything that allows for faster recovery and release from hospital beds is likely to be grasped with both hands in that context. The advantage of Synairgen is that their product is essentially a modification of a well-established and widely tolerated drug that is already widely used to combat other diseases. As such, the chances of regulatory approval appear high and has already been accelerated by the US Food and Drug Administration.The stock subsequently trimmed its gains but was still up 7.1% mid-morning in London at its Highest level since the announcement by Pfizer (NYSE 🙂 and BioNTech that their experimental vaccine was effective in treating the virus. The Pfizer / BioNTech announcement ushered in a difficult couple of months for a series of small- and mid-cap stocks that had flourished in the early stages of the pandemic. Companies like Italy’s Diasorin, UK-based Avacta, and Anglo-French Novacyt (LON :), all of whose strengths lie in detecting the disease rather than treating it, suffered when Pfizer was followed by Moderna (NASDAQ 🙂 and AstraZeneca (NASDAQ 🙂 on launching vaccines that should, on time, drastically reduce the need for Covid-related clinical diagnostics. Neither Diasorin, a well-established company with hundreds of millions of euros in annual revenue, nor Avacta, a startup with little revenue, has really recovered. Diasorin hit its lowest level since September earlier this week. Avacta shares have done better. It fell 40% in the weeks after the Pfizer / BioNTech announcement, but has recovered 20% since then, helped by a couple of licensing deals that reminded the market of its original focus on developing biotherapeutics for treating cancer. cancer, a business that will survive for a long time. the Covid-19 pandemic. But along with Synairgen, the best-recovered small cap is Novacyt, whose 2000% rally last spring briefly made it the hottest stock in Europe. Both Novacyt and Avacta are working on developing so-called ‘lateral flow’ tests for Covid-19, which give results in minutes. While other lateral flow tests have already hit the market, they are plagued with poor reliability. As such, the successful development of a reliable alternative could still be rocket fuel for any of the actions, given the improvement in testing regimes that would entail. Novacyt said last year that it expects to launch its product in the first quarter of this year. Novacyt shares rose 7.1% mid-morning in London, with no visible price trigger.