Why Vaxxinity Inc. (VAXX) stock zoomed over 80% on Friday?

April 30, 2022 08:17 AM AEST | By Versha Jain
 Why Vaxxinity Inc. (VAXX) stock zoomed over 80% on Friday?
Image source: © Marianvejcik | Megapixl.com

Highlights

  • Texas-based Vaxxinity is a biotechnology company specializing in vaccines for chronic disorders and infectious diseases.
  • The company launched its IPO in November 2021.
  • The stock price has declined by over 72% since the IPO. 

Shares of biotechnology company Vaxxinity, Inc. (Nasdaq:VAXX) rose for the second consecutive day on Friday, gaining over 80% to US$6.79 from the previous close at 2:51 pm ET. 

The two-day rally follows the company’s updates about its ongoing Phase 1 clinical trials. Vaxxinity launched its IPO in November 2021. However, the stock has declined more than 72% since its listing.

Also Read: 5 dividend-paying mid-cap stocks to watch: WLL, ZIM, SBLK, GOGL & ARCH

Vaxxinity develops prophylactic and therapeutic vaccines. It has recently completed the enrollment for the Part B clinical trial of UB-312, a candidate vaccine for Parkinson’s disease. 

The investigational drug targets at Parkinson’s, dementia with Lewy bodies (DLB), and multiple system atrophy (MSA). The project is supported by the Michael J. Fox Foundation, Mayo Clinic, and the University of Texas. It expects an “end-of-treatment” analysis in the second half of 2022 and a complete analysis in 2023.

Video: Beyond Science – Future of Biotech & Healthcare: Harnessing Inventive Approaches

Vaxxinity, Inc:

Texas-based Vaxxinity is focused on pioneering a new class of synthetic, peptide-based immunotherapeutic vaccines to treat chronic disorders and infectious diseases. 

Its pipeline programs are focused on neurodegenerative and cardiovascular diseases. 

Also Read: Five student loan stocks to watch in April: DFS to SLM

Why Vaxxinity Inc. (VAXX) stock zoomed over 80% on Friday?

Also Read: Top mental health stocks to watch in Q2: LLY, ACHC, ITCI, LSFT & ACAD

Financials: 

Vaxxinity booked a net loss of US$137.2 million or US$1.79 per share diluted for the fiscal year 2021 compared to a net loss of US$39.96 million or US$0.61 per share for fiscal 2020. 

Its revenue was US$0.1 million for the fiscal year ended December 31, 2021, compared to US$0.6 million in 2020. Its current market capitalization is US$911 million.

Also Read: CELU to CMPI: Explore top 5 biotech stocks with over 100% YTD return

Bottom line:

The stock’s trading volume jumped more than 30 million on Friday following these updates. However, investors should exercise due diligence before investing in the stock market.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.