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Microcap Akers Biosciences Spikes on Covid-Vaccine Progress

Akers and Premas Biotech are three steps into a four-step plan that could lead to clinical trials of a vaccine candidate.

Akers Biosciences  (AKER) - Get Akers Biosciences, Inc. Report shares jumped after the microcap biopharmaceutical company said its partner had completed a Covid-19 vaccine prototype. 

Premas Biotech, Akers's partner, says it's one of the first labs to obtain microscopic images of the Covid virus-like particles assembled in yeast. 

VLPs are the key to developing vaccines to combat coronavirus. The particles resemble native virions immunologically, while they are also non-replicating and non-pathogenic. 

"We are encouraged by the recent progress made with Premas," Akers Executive Chairman Christopher Schreiber said in a statement. 

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"As our next step, we will present our findings to regulatory authorities with the intent of initiating preclinical trials this summer. We will keep shareholders informed as we proceed through our milestones." 

Akers, West Deptford, N.J., says its vaccine candidate is uniquely based on the three Covid-19 proteins; Spike, Envelope and Membrane. 

"We believe that this combination of three proteins distinguishes us from other companies seeking to develop Covid-19 vaccines and makes the VLP promising as we work to proceed into preclinical trials," Premans Biotech Co-Founder Prabuddha Kundu said.

The two companies said they have a four-milestone plan that should lead to clinical trials for its vaccine candidate. Akers says the partnership with Premas has the potential to quickly and cost-effectively bring a yeast-based protein Covid-19 vaccine to market. 

Akers shares at last check were up 1.4% at $3.58. They have traded up as much as 56% on Thursday.