Geovax Labs (NASDAQ:GOVX) stock is soaring higher on Friday after the company presented COVID-19 vaccine data at the European Society of Medicine (ESMED) General Assembly.
The big news from Geovax is its work on coronavirus vaccines using its novel Modified Virus Ankara – Virus Like Particle platform. The company believes that this will allow for the creation of vaccines that have the potential to fend off various variants of the virus.
According to Geovax Labs, this is possible via the inclusion of sequence-conserved nonstructural proteins. These could provide targets for T-cell responses, which could “breadth and function of vaccine-induced immune responses.”
Geovax Labs notes that this means it could potentially create a universal vaccine that could defend against current and future strains of the coronavirus. If so, that could see it outdoing current vaccines, which haven’t been doing so hot against new COVID-19 variants that are popping up.
Mark J. Newman, Ph.D., CSO of Geovax Labs, said this in the presentation boosting GOVX stock today.
“Our studies to date support the use of MVA as a vector for the design and production of next-generation vaccines encoding multiple coronavirus proteins, using the S protein as the antibody target and the M and E proteins as T-cell targets. The combination of S, M and E protein expression supports VLP formation and optimal immunogenicity. In our studies, we observed the induction of functional antibodies and T-cell responses that mediate protection from infection and pathogenesis.”
It’s no surprise that GOVX stock is seeing heavy trading on today’s news. As of this writing, more than 71 million shares of the stock have changed hands. That’s quite the surge compared to its daily average trading volume of about 766,000 shares.
GOVX stock was up 49.8% as of Friday afternoon.
There’s more recent stock market news for traders to check out below!
Investors looking for all the hottest stock market news are in luck. We’ve got a nice collection of stock stories from Friday to check out. It covers the likes of Marin Software (NASDAQ:MRIN), Deere (NYSE:DE), and Naked Brand (NASDAQ:NAKD) shares. You can find all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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