Biondvax Pharmaceuticals (NASDAQ:BVXV) stock is on the rise Wednesday thanks to some positive news concerning its Covid-19 antibodies.
The positive news for BVXV stock is an agreement with the Max Planck Society and the University Medical Center Göttingen. This will have them working together to develop and commercialize COVID-19 nanosized antibodies (NanoAbs).
According to a press release, NanoAbs offer various benefits over other options. That includes “superior affinity to the target, neutralizing the SARS-COV-2 virus, in-vitro, at drug concentrations about 100-times lower than those required by currently commercially available monoclonal antibodies.”
BiondVax Pharma notes that this could lead to increased efficacy, reduced side effects, as well as lower production costs. It also allows for administration via inhalation, as well as a longer shelf life due to its hyper-thermostability at 95°C.
Amir Reichman, CEO of BiondVax Pharma, said the following in the news release sending BVXV stock higher today.
“Overall, the NanoAb platform is an incredible opportunity for BiondVax. It will serve as a basis for an exciting new pipeline of commercially attractive products to address unmet therapeutic needs of diseases such as psoriasis, psoriatic arthritis, asthma, and macular degeneration.”
BVXV stock is also seeing heavy trading today. As of this writing, some 111 million shares of the stock have changed hands. That’s quite the increase over its daily average trading volume of nearly 80,000 shares.
BVXV stock is up 91.9% as of Wednesday morning.
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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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