Why the Starpharma (ASX:SPL) share price hit a record high today

The Starpharma Holdings Limited (ASX: SPL) share price has been a very positive performer on Tuesday.

At one stage today, the dendrimer product developer’s shares jumped 7.5% to hit a record high of $2.10.

The Starpharma share price has since given back some of these gains but is still up 4% to $2.03 at the time of writing.

Why is the Starpharma share price racing higher?

Investors have been buying Starpharma’s shares after it provided an update on its AZD0466 product.

AZD0466 is a highly optimised nanomedicine formulation of AstraZeneca’s novel dual Bcl2/xL inhibitor which utilises Starpharma’s DEP technology. It utilises DEP to improve the formulation characteristics and therapeutic index of the anti-cancer agent and is…