Why BiondVax Shares Are Soaring Today

BiondVax Pharmaceuticals Ltd BVXV is trading higher Wednesday after the company announced it signed definitive agreements for the development and commercialization of nanosized COVID-19 antibody therapies with Max Planck Society and the University Medical Center Göttingen.

The agreements are part of a broader collaboration (expected to be signed next month) covering development and commercialization of nanosized antibodies for several other disease indications with large market sizes.

The company said that the nonsized antibodies exhibit superior affinity to the target, neutralizing the SARS-COV-2 virus, in-vitro, at drug concentrations about 100 times lower than those required by currently commercially available monoclonal antibodies.

"As Omicron’s recent and rapid emergence makes clear, improved therapeutics are needed to bring COVID-19 under control. The innovative COVID-19 NanoAb candidates offer the potential for a superior therapeutic platform," said Amir Reichman, CEO of BiondVax.

See Also: Why SeaChange International Shares Spiked Higher Today

BiondVax is engaged in the healthcare sector. Prior to Wednesday's announcement, the company's main activity was the commercialization and manufacturing of flu vaccines.

BVXV Price Action: BiondVax has traded as high as $7.22 and as low as $1.36 over a 52-week period.

The stock was up 57.50% at $2.33 Wednesday afternoon.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksContractsMoversTrading IdeasAmir Reichmanwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...