ImmunoVaccine Up 24% On Deal With Gilead Sciences

Update: Reuters reported that Immunovaccine CEO said PR on Immunovaccine signing deal with Gilead was a hoax.

ImmunoVaccine Inc. IMMVFV granted an exclusive development and commercialization license for its anthrax and Ebola vaccines Friday to Gilead Sciences, Inc. GILD.

Shares of Halifax-based ImmunoVaccine changed hands recently up more than 24 percent at C$0.87 on the Toronto stock exchange. Gilead was down $1.11 to $103.08.

A U.S. Army research director expects that within 24 months "we will have the ability to provide rapid immunization" against the two diseases for soldiers and at-risk populations.

Joseph Corriveau, who directs the U.S. Army facility in Maryland, made the comment and cited cooperation with Immunovaccine and Gilead for accelerated development.

In connection with the agreement, ImmunoVaccine also said it obtained Fast Track Designation and approval for a Phase I trials of the products from the U.S. Food and Drug Administration.

"We are especially excited to be the first company to have a viable Ebola vaccine going into clinical human trials," ImmunoVaccine Chief Executive Marc Mansour said.

A National Institutes of Health study has suggested promise for the company's anthrax vaccines, and in August 2014 the its Ebola vaccine proved to effective in inducing immunity to Ebola in a primate study.