Why the Starpharma (ASX:SPL) share price is tumbling lower today

The Starpharma Holdings Limited (ASX: SPL) share price has come under pressure on Tuesday despite the release of a positive announcement.

In afternoon trade, the dendrimer products developer’s shares are down 4.5% to $1.99.

What did Starpharma announce?

This morning Starpharma announced that its Viraleze antiviral nasal spray has now been launched in the UK by LloydsPharmacy.

Viraleze is a broad spectrum antiviral nasal spray that contains astodrimer sodium (SPL7013), which is virucidal and irreversibly inactivates >99.9% of the virus that causes COVID-19 within one minute.

The company also notes that SPL7013 has been shown to be highly active against multiple strains of COVID-19, as well as a broad spectrum of other viruses….

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