Medicago Stock Search Rises On Promising COVID Vaccine Trial Results

2 min read | May 18, 2021 10:33 AM EDT | By Team Kalkine Media

Medicago Stock Search Rises On Promising COVID Vaccine Trial Results — Image source: Konstantin Kolosov, Shutterstock

Medicago’s COVID-19 Vaccine Candidate

Medicago’s shot, which is reportedly Canada’s first homegrown vaccine candidate for coronavirus, is said to be showing “encouraging” antibody response in hundreds of volunteers in its Phase 2 trial. The shot could be prepared for a final approval request after completing its Phase 3 trial.

Nathalie Landry, Medicago’s executive vice-president for scientific and medical affairs, said that the vaccine candidate have been reported to create 10 times the antibodies witnessed in COVID-19 positive patients.

What’s Next For Canada’s Plant-based COVID Vaccine Candidate?

Medicago is said to have already begun its Phase 3 study with 30,000 volunteers across Canada, the United Kingdom and the United States. It is likely to expand the trial to Brazil this week.

In this final trial, the company will submit its samples before national drug regulator Health Canada, which will decide whether to allow the vaccine for emergency usage or not.

Medicago’s management believes that it will receive the regulatory nod as early as this summer.

If Medicago gets Health Canada’s authorization, the vaccine manufacturer is expected to produce its first COVID-19 dose in Canada.

While most of its shots will primarily be produced at Medicago’s North Carolina plant, the final vials will reportedly be filled and prepared with partner GSK in Canada.

In the wake of this development, GlaxoSmithKline PLC (GSK:US, NYSE:GSK) was trading in green during the pre-market session.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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