Vaccinex announces deals with two big pharmas, sending stock up 233%

20 February 2021

Shares of US clinical-stage biotech Vaccinex (Nasdaq: VCNX) leapt as much as 233% to an intraday high of $9.56 on Friday, after it disclosed the signing of multi-project deals with two undisclosed prominent pharmaceutical companies.

The collaborations will focus on using ActivMAb, Vaccinex’ antibody discovery and novel viral display platform, for antibody discovery against complex antigens such as GPCRs and ion channels.

Financial terms of the deals are undisclosed, but along with the massive morning spike in heavy trading, the stock closed the day up 70% at $4.88.

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