Blue Water Vaccines (NASDAQ:BWV) stock is rocketing higher on Wednesday after the company announced it will explore the possibility of making a monkeypox vaccine.
According to a press release from the company, Blue Water intends to use its norovirus shell and protrusion virus-like particle (VLP) platform. While this still doesn’t mean it will definitely develop a vaccine, investors are excited about the potential.
Chairman and CEO Joseph Hernandez said the following about the company’s plans:
“As monkeypox cases rise around the globe, BWV is committed to exploring the potential of our platform to create a novel monkeypox vaccine candidate […] Our VLP platform has previously demonstrated versatility across multiple infectious diseases, and we are excited to initiate this research to understand the potential to create another vaccine to fight this outbreak.”
Blue Water Vaccines is hoping to capitalize on the fact that there are only two monkeypox vaccines approved for use in the United States. Some 12,000 cases have been reported from May 2022 to August 2022.
The idea of Blue Water Vaccines tackling monkeypox has BWV stock seeing heavy trading on Wednesday. More than 85 million shares are on the move as of this writing. For the record, the company’s daily average trading volume is closer to 2.1 million shares.
BWV stock is up 143% as of Wednesday afternoon. However, shares are still down 89% since the start of the year.
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On the date of publication, William White 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.
