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Why PPD, Immunic, Inovio and CureVac Shares Are Higher Today

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Why PPD, Immunic, Inovio and CureVac Shares Are Higher Today

PPD, Inc. (NASDAQ: PPD), Immunic, Inc. (NASDAQ: IMUX), Inovio Pharmaceuticals, Inc. (NASDAQ: INO) and CureVac N.V. (NASDAQ: CVAC) are among the healthcare movers on Thursday.

PPD Soars On M&A News: PPD, a contract research organization providing integrated drug development, laboratory and lifecycle management services, announced a deal to be acquired by Thermo Fisher Scientific Inc. (NYSE: TMO) for $47.50 per share in cash, or $17.4 billion, plus the assumption of $3.5 billion of debt.

PPD stock spiked in late trading Wednesday after a Wall Street Journal report broke out speculation regarding a potential sale After trading flat around $38 for much of the session, the stock took off, with about 15 minutes into the close, and ended 12.10% higher at $43.

Related Link: The Daily Biotech Pulse: Merck Shelves 2 COVID-19 Studies, Bristol-Myers Squibb Gets European Regulatory Nod, InspireMD's Reverse Split

Immunic Gains On Clinical Readout For Multiple Sclerosis Drug: Immunic, a clinical-stage biopharma focusing on developing oral therapies for treating chronic inflammatory and autoimmune diseases, announced interim data from the Cohort 2 of the Phase 2 study of IMU-838, an investigational asset, in relapsing-remitting multiple sclerosis.

Patients in the cohort were given 10mg IMU-838 dose and placebo. Preplanned interim analysis of 12-week MRI data, along with the previously reported data from the Cohort 1 that was administered 30mg and 45mg doses, support decision that 30mg once daily dose will be used for planned Phase 3 study.

The company said it plans to submit an investigational new drug application, rather than holding an end-of-Phase 2 meeting, that would facilitate commencement of the Phase 3 study in the second half of 2021.

Inovio Spikes On COVID-19 Vaccine Data: Inovio, a developer of DNA medicines for infectious diseases, announced positive results from a study focusing on the human immune responses induced by its investigational COVID-19 DNA vaccine candidate INO-4800 against variants of the virus.

The results showed that INO-4800 induced a robust T-cell response against all spike protein variants tested. This, according to the company, will be key in providing protection against SARS-CoV-2 variants such as those found in the U.K. and Brazil.

Inovio also confirmed it will report results form the Phase 2 study of INO-4800 in the second quarter, and with the concurrence of the FDA, it also expects to commence a Phase 3 study in the same quarter

CureVac Says COVID-19 Vaccine Program On Track: Germany's CureVac, which is developing a mRNA vaccine against the novel coronavirus, announced financial results for the fourth quarter and also provided a clinical pipeline update.

The company said its COVID-19 vaccine candidate, CVnCoV, is in final stage of clinical development and it is well on track to provide data for conditional approval based on EMA rolling submission.

 

Related Articles (IMUX + CVAC)

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