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Vaccinex stock soars 223% on partnership deals using its antibody discovery platform (VCNX)


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Vaccinex stock rocketed up more than 200% Friday, propelled by two collaboration deals centered on using the biotech company’s antibody discovery platform. 

Vaccinex, which focuses on cancer and neurodegenerative disease, said it signed multi-project deals with two unnamed “prominent” pharmaceutical companies. Financial terms of the deals were undisclosed. 

Shares jumped as much as 233% to an intraday high of $9.56 before the gains were pared to 150%. Trading volume of more than 196 million shares in late-morning action trumped the average volume of about 540,000 shares. The stock began this year at a little more than $2 each. 

The collaborations will use the company’s ActivMAb technology which Vaccinex said has multiple applications that include discovering antibodies specific for complex membrane antigens. 

Shares of Vaccinex traded at $6.18 at 12:19PM E.T. on Friday. 

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Source:: Business Insider

      

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