As the race for Covid-19 vaccine intensifies, the share price of Vaxart, an unpopular biotech company that is working on developing a COVID-19 vaccine surged as much as 449% this week after the company announced series of news. Year-to-date the share price is up by over 3,000%
On Wednesday the stock surged 20% following a news that Vaxart would be added to the broad-market Russell 3000 index, effective Monday, June 29.
On Thursday, Vaxart surged 96% after it signed a memorandum of understanding with Attwill Medical Solutions Sterilflow. The two firms committed to enabling the large scale manufacturing and ultimate supply of Vaxart’s COVID-19 vaccine candidate. The two firms hope to be able to produce “a billion or more COVID-19 vaccine doses per year,”
On Friday, the company shares soared by as much as 106% during trading in the morning to $12.90, after the company broke the news that it is among the companies selected for Operation Warp Speed program.
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However it is trading at $9.03 at the time of this report. At the current price, the share has risen by over 3,000% in one year. The 52 week high and Low prices are $14.3 and $0.29 per share respectively. The share price was $0.34 from 30 December 2019 to 6 January 2020.
Source: Business Insider.
Vaxart, focused on developing oral vaccines administered by tablet rather than injection, on Friday said that it has been selected to participate in the US government funded Operation Warp Speed program among Merck, Moderna, Pfizer, Johnson & Johnson, and AstraZeneca.
U.S Federal Government had started Operation Warp Speed which is a private-public partnership to speed up the development and production of a COVID-19 vaccine, therapeutics, and related diagnostics.
According to the news from Vaxart, its oral vaccine is the only oral vaccine that will be participating in the study on non-human primate. The company also said that its the only oral vaccine being evaluated within the program.
All in all, based on Friday morning trades, Vaxart is set to end the week higher by 328%. The firm has seen its market capitalization skyrocket from just under $200 million at the start of the week to $850 million on Friday according to Business Insider.
Written by;
Ifunanya Ikueze
