Gritstone bio wins $433 million US contract for COVID vaccine study (updated)

Gritstone bio

27/09/2023 21:47

(Adds share price and study details in paragraphs 3-5)
       Sept 27 (Reuters) - Gritstone bio  GRTS.O  on Wednesday
secured a $433 million contract by the U.S. government to
conduct a mid-stage study of its self-amplifying mRNA COVID-19
vaccine candidate.
    The contract is a part of "Project NextGen," an initiative
by the U.S. Department of Health and Human Services to advance a
pipeline of new, innovative vaccines and therapeutics providing
broader and more durable protection against COVID-19 infection.
    Gritstone's shares rose 36.1% to $1.61 after the bell.
    The study will compare the efficacy, safety and
immunogenicity of Gritstone's COVID-19 vaccine candidate with an
approved vaccine.
    Gritstone plans to initiate the mid-stage study in the first
quarter of next year.
    The contract was awarded by the Biomedical Advanced Research
and Development Authority, a U.S. federal agency that funds
disease-fighting technology.

 (Reporting by Sriparna Roy in Bengaluru; Editing by Shweta
Agarwal and Shounak Dasgupta)
 ((Sriparna.Roy@thomsonreuters.com))