Why Gritstone Oncology Is Bolting Higher Today

Shares of the clinical-stage biotech Gritstone Oncology (NASDAQ: GRTS) rose by as much as 44% in pre-market trading Tuesday morning. The drugmaker's stock is heating up today in response to an agreement with the National Institute of Allergy and Infectious Diseases (NIAID) to initiate a phase 1 trial of its second-generation SARS-CoV-2 vaccine candidate.

The NIAID is reportedly covering the cost of the vaccine's early-stage trial through its Infectious Diseases Clinical Research Consortium. The Bill and Melinda Gates Foundation provided a grant to fund the vaccine's pre-clinical evaluation -- work that seems to indicate that this novel vaccine candidate may confer a more robust and prolonged immune response than the first wave of COVID-19 vaccines.

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