Why Is HilleVax (HLVX) Stock Down 87% Today?

  • HilleVax (HLVX) stock is down on Monday alongside a failed clinical trial.
  • This has it stopping the development of its norovirus vaccine for infants.
  • With that comes heavy trading of HLVX stock as investors sell the shares.
HLVX Stock - Why Is HilleVax (HLVX) Stock Down 87% Today?

Source: shutterstock.com/PhotobyTawat

HilleVax (NASDAQ:HLVX) stock is falling hard on Monday following the release of topline data from its Phase 2b clinical trial of HIL-214 in infants.

This clinical trial studied the efficacy, safety and immunogenicity of HIL-214 as a norovirus vaccine for infants. Unfortunately for HLVX investors, the study only showed an efficacy of 5% for the vaccine.

To go along with this, HilleVax said that it saw no benefits from the secondary endpoints of its clinical trial. HilleVax will stop the development of HIL-214 as an infant vaccine but is considering further testing as an adult vaccine.

HilleVax CEO Rob Hershberg said the following about the news:

“We are disappointed that the NEST-IN1 study did not meet its primary efficacy endpoint […] While HIL-214 previously showed clinical benefit in adults, NEST-IN1 was the first efficacy study conducted in infants for a norovirus vaccine candidate. We believe the efficacy in the infant setting may have been impacted by the appearance of multiple emerging GII.4 strains in this trial.”

How This Affects HLVX Stock

Shares of HLVX stock are taking a beating alongside heavy trading today. This has more than 17 million shares traded as investors offload the stock on the failed clinical trial news. To put that number in perspective, the company’s daily average trading volume is about 200,000 shares.

HLVX stock is down 87.3% as of Monday afternoon.

Investors will want to stick around for more of the most recent stock market news today!

We have all of the hottest stock market happenings worth reading about on Monday. That includes all of the latest details on Virpax Pharmaceuticals (NASDAQ:VRPX), Rivian (NASDAQ:RIVN) and Microsoft (NASDAQ:MSFT) shares today. You can catch up on all of these matters by checking out the links below!

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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.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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