Icosavax falls after COVID vaccine candidate component found to be unstable

Icosavax

29/07/2022 17:01

** Icosavax's shares  ICVX.O  down 7% at $7.20
    ** Says investigation into COVID-19 vaccine candidate showed
its main component was unstable, with issue specific to the
molecule  urn:newsml:reuters.com:*:nGNX1McLZk
    ** Adds there's no evidence of impact on other vaccine
development programs
    ** Interim data from early-stage study released in March
showed COVID vaccine candidate was immunogenic but level of
response was below co's expectations  urn:newsml:reuters.com:*:nL3N2VS2R1
    ** Brokerage William Blair upbeat about investigation
results, says it believes that risk-reward symmetry is
favorable, especially after recent positive results from vaccine
candidate against respiratory syncytial virus  urn:newsml:reuters.com:*:nGNX77YgLc
    ** All four brokerages rate the stock "buy" or higher; their
median PT is $29.50
    ** Including session's loss, stock down ~69% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))