Icosavax drops 20% after early-stage data from COVID-19 vaccine candidate disappoints

Icosavax

25/03/2022 12:31

** Drug developer's  ICVX.O  shares plunge 20% to $9.99
before the bell; set to extend 45% YTD fall through Thursday
close
    ** Co says its COVID-19 vaccine candidate was immunogenic
but the level of response was below its expectations, according
to interim data from early-stage study  urn:newsml:reuters.com:*:nGNX85Yh1B
    ** "We plan to investigate the potential causes of these
discordant clinical results, including manufacture, shipment,
and administration of the product" - CEO 
    ** Says co remains on track for data from early-stage study
for lead program IVX-121 against respiratory syncytial virus in
Q2 
    ** Stock now trading below its IPO price of $15 per share;
co sold roughly 12.13 mln shares in IPO, raising about $182 mln
last year  urn:newsml:reuters.com:*:nL4N2P53LS


 (Reporting by Ankur Banerjee)