This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

VaxGen Gets Pact for Anthrax Vaccine

VaxGen (VXGN) said Thursday that it had received a U.S. government contract to supply 75 million doses of anthrax vaccine for civilians. The contract is worth $877.5 million for the vaccine that is still under development.

The long-awaited contract for the Brisbane, Calif., company was made under the Project BioShield Act of 2004. The company said the contract should provide enough vaccine for 25 million people for guarding against inhaled anthrax, the most dangerous form of the disease and the most likely form to be used as a weapon by terrorists.

The announcement came after markets had closed; but shares of VaxGen rose $1.90, or 15.3%, to close at $14.35 in a flurry of trading between 3 p.m. and 4 p.m. VaxGen is listed on the pink sheets, a stock quotation service normally reserved for thinly traded public companies. More than 1.2 million shares changed hands on Thursday.

VaxGen was delisted from the Nasdaq in August for failing to promptly file quarterly financial statements with the Securities and Exchange Commission.

The contract calls for the company to provide 25 million doses to the federal government within two years and the rest within the following 12 months. VaxGen said it expects to begin delivering the vaccine in early 2006. The Project BioShield enables the government to take the vaccine before the drug has been approved by the Food and Drug Administration. VaxGen said the vaccine will be subject to an accelerated review program at the FDA.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.25 -0.14%
FB $81.66 -0.67%
GOOG $542.45 -1.00%
TSLA $187.59 -0.63%
YHOO $44.13 -0.69%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs