Why Shares of Icosavax Jumped on Tuesday
Shares of Icosavax (NASDAQ: ICVX) were up more than 23% late Tuesday morning after being up as much as 36% earlier in the day. The biotech company, which uses a virus-like particle (VLP) platform to make vaccines to fight infectious diseases, announced positive early trial data regarding a respiratory syncytial virus (RSV) and human metapneumovirus (hMPV) vaccine for older adults.
The stock is up more than 23% so far this year.
Icosavax said that top-line results from its phase 1 trial for pan-virus vaccine IVX-A12 showed that it induced strong immune responses from older adults through 28 days after the vaccine was administered. The trial involved 140 healthy adults ages 60 to 75 years. Icosavax said its next step for the therapy is a phase 2 immunogenicity trial midway through this year, followed by an hMPV human challenge clinical trial.
Source Fool.com
