AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Investors have been looking up Medicago stocks following the Canadian biotech company’s announcement of positive interim results for its plant-based COVID-19 vaccine candidate on Tuesday, May 18. Medicago Inc has been working on its COVID shots in collaboration with UK-based pharma GlaxoSmithKline (GSK).
Once listed under the ticker of ‘MDG’, Medicago shares were removed from the Toronto Stock Exchange after the company was taken over by Tokyo-based Mitsubishi Chemical Holdings Corporation in July 2013.
Investors interested in its shares can find Mitsubishi Chemical stocks trading on the Tokyo Stock Exchange under the ticker ‘4188’, which can be bought and sold over the counter (OTC).
Mitsubishi stocks jumped nearly three per cent on Wednesday, May 19, as Medicago, the company’s fully-owned subsidiary, entered the third phase of the trial for its COVID-19 vaccine candidate.
Medicago’s Plant-Based Coronavirus Vaccine Candidate
GSK and Medicago claim that their COVID vaccine candidate prompted 10 times higher defensive antibody levels than in infected patients. The results were reportedly similar in hundreds of volunteers who got vaccinated, without any serious feedback.
Meanwhile, nearly 30,000 volunteers have enrolled for the third and final phase study for Medicago’s vaccine candidate across Canada, the US, the UK, and Brazil. The vaccine can be stored at fridge temperatures.
Copyright ©Kalkine Media 2020
Canadian drug regulator Health Canada is closely tracking the final phase trial, and the vaccine makers believe that it will receive emergency use approval by the end of this summer.
The drug regulator will not make a final decision to permit any COVID-19 vaccine candidate under review until it has received the necessary studies backing the candidate's efficacy, safety and quality, it said.
A Glance At Medicago Specialization
Medicago is a biological pharma that use an exclusive Virus Like Particle (VLP) technology to develop vaccines. The firm was valued at C$ 179 million in 2013.
Medicago has a patented biological method of producing VLPs inside plant cells, and then extracting and refining those VLPs using genetic engineering.
VLPs imitate real viruses by forming the same external formation without the core genetic substance. Thus, the company claims that VLP vaccines provide a higher level of immunization.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
