Icosavax jumps with focus on upcoming RSV vaccine data

Icosavax

17/05/2022 18:05

** Shares of vaccine developer  ICVX.O  jump 14.3% to $8.47
    ** Stock among top five pct gainers on the Nasdaq
Biotechnology index  .NBI , which is up 2.5%     
    ** Late on Monday, ICVX posted Q1 results and an update on
vaccine candidate for respiratory syncytial virus (RSV) - a
common respiratory virus which can cause serious illness in
young children and older adults  urn:newsml:reuters.com:*:nGNXc6KGSG
    ** ICVX says it completed enrollment in the older adult
group in its early-stage study of the vaccine, IVX-121, and
expects to report data from the trial in June 
    ** Says if data is favorable, it plans to start an
early-stage trial of its first combination vaccine candidate,
IVX-A12, for RSV and another virus called human metapneumovirus
in H2
    ** Jefferies ("buy"; PT: $41) believes recent disappointing
data on ICVX's COVID-19 vaccine has limited read-through to
company's vaccine development platform or RSV program; adds
positive data on RSV vaccine would drive significant upside
 urn:newsml:reuters.com:*:nL3N2VY2U1
    ** Cowen ("outperform") expects ICVX to create a lot of
shareholder value as IVX-A12 advances 
    ** ICVX's quarterly net loss widens on greater R&D expenses;
co says cash balance sufficient to fund operations through at
least 2024
    ** Stock has plunged 63% YTD, including session moves

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))