Why Is GeoVax (GOVX) Stock Up 25% Today?
- GOVX stock is soaring because investors are focusing on the firm’s 2020 statement that the “viral basis” of its vaccine vector was approved for the prevention of monkeypox.
- The company’s CEO also recently stated that vaccines which have the same basis as that of GeoVax’s candidate “have been validated and registered for [the] prevention of Monkeypox.”
- President Joe Biden said that monkeypox is something that “everybody should be concerned about”
GeoVax (NASDAQ:GOVX) stock is soaring 25% in early trading after investors began focusing on the company’s vaccine pipeline. Of special interest to Wall Street today is a quote related to monkeypox by GeoVax’s chief scientific officer, Farshad Guirakhoo, in a 2020 press release
In the press release, Guirakhoo stated that “the viral basis of our vaccine vector (MVA) … has been recently approved by the FDA for prevention of smallpox and monkeypox diseases.”
And GeoVax Chairman and CEO David Dodd, in a LinkedIn post made two days ago, wrote that “MVA-based vaccines have been validated and registered for [the] prevention of Monkeypox virus infection.” He added that GeoVax’s shot, GEO-CM04S1, could prevent people from getting monkeypox.
Designed as a vaccine for Covid-19, the jab is “currently in two Phase 2 trials,” Dodd reported.
GOVX Stock Pops on Monkeypox Fears
Yesterday President Joe Biden said that “everybody should be concerned about” monkeypox. Today, however, the president noted that smallpox vaccines can prevent people from contracting monkeypox, adding that the U.S. has a sufficient number of such shots to “deal with” monkeypox.
A “presumptive” case of monkeypox has been discovered in Florida, the state’s officials said yesterday. If the person there does have monkeypox, it would be the third case of the virus in the U.S.
Monkeypox “typically circulates in Western and Central Africa,” ABC reported.
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On the date of publication, Larry Ramer did not hold (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.