Inovio and CureVac Surge on Vaccine Candidate Results, J&J Pause

Inovio and CureVac shares are following encouraging vaccine candidate results and the pause in the distribution of J&J's COVID-19 vaccine.
Author:
Publish date:

Inovio Pharmaceuticls  (INO) - Get Report and CureVac  (CVAC) - Get Report were climbing Thursday, spurred by encouraging vaccine candidate results and the recent pause of Johnson & Johnson's  (JNJ) - Get Report vaccine

Shares of Inovio were surging 12% to $9.91 in trading Thursday, while CureVac was climbing 5.23% to $108.

Stocks Jump as Data and Earnings Point to Recovering U.S. Economy

Inovio said the results of a new study showed its COVID-19 vaccine candidate INO-4800 was capable of producing neutralizing antibodies and T-cell responses against the U.K., South African and Brazilian variant strains.

The company said in a statement that INO-4800 "induced a robust T cell response" against all spike protein variants tested.

Last month, Inovio reported better-than-expected fourth-quarter results.

Meanwhile, German drugmaker CureVac, which went public last year, said it has seen the number of requests for its experimental COVID-19 vaccine increase over the past few days.

On Tuesday, the Centers for Disease Control and Prevention and the Food and Drug Administration suspended use of Johnson & Johnson's  (JNJ) - Get Report due to concerns about blood clotting. Shares were up about 1%. 

White House Says J&J Vaccine Pause Won't Deter Rollout

CureVac said in a statement Thursday that it would start testing CVnCoV, its COVID-19 vaccine, on adolescents as young as 12 at the end of the month, as it gets ready to publish initial efficacy results for adults in the second quarter.

The European Union in November secured up to 405 million doses of CureVac’s two-shot vaccine, Reuters reported, which has yet to win regulatory approval, the company’s only large supply contract so far.

CureVac also reported a fourth-quarter loss and beat analysts' revenue expectations.

In January, CureVac agreed to develop next-generation COVID vaccines with GlaxoSmithKline  (GSK) - Get Report, which took a 10% stake in CureVac last year.