Why BiondVax Pharmaceuticals (BVXV) stock rallied today?

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Highlights

  • BiondVax Pharmaceuticals Ltd. has signed a definitive agreement with Max Planck Society and University Medical Center Göttingen.

  • BiondVax will collaborate with the two organizations to develop and commercialize Covid-19 nanosized antibodies (NanoAbs).

  • BiondVax stock jumped more than 127% in intraday trading.

Shares of BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) jumped over 127% on Wednesday after announcing its collaborative project to develop nanosized Covid-19 antibodies (NanoAbs).

The Israel-based company said that it had signed a definitive agreement with Germany’s Max Planck Society (MPG) and the University Medical Center Göttingen (UMG) to develop the drug.

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The agreement is part of a broader collaboration to be finalized in January next year. It will cover the development and commercialization of NanoAbs for various other diseases.

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BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) stock performance and financial highlights

The BVXV stock traded at US$3.3696 at 10:12 am ET on Dec 22, up 127.68% from its previous close. The stock fell 54.46% YTD. The stock saw the highest price of US$7.22 and the lowest price of US$1.36 in the last 52-week. Its trading volume was 86,275 on Dec 21.

The firm has a market cap of US$43.85 million. Its EPS is US$-1.12.

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The company's total operating expenses were US$2.5 million in Q3, FY21. Its net loss was US$2.86 million compared to a loss of US$1.41 million in Q3, FY20.

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Bottomline

The research on NanoAb is led by UMG’s molecular oncology expert Matthias Dobbelstein and Max Planck’s biophysical chemistry expert Dirk Görlich. NanoAbs showed a competitive edge over the existing Covid-19 therapies.


 


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