Israel Grant Sends BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) Higher

BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV)

BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) shares are up over 20% on heavy volumes. The Israel-based small-cap company ended yesterday at $5.67 but is trading in early morning action around $7.00. So far over 1.4 million shares have traded when the average daily volume stands at just 13,660 shares.

This morning investors awoke to news that BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) had been awarded a grant by the Israel Investment Center. The awarded funds are to be used towards the building of a factory for the production of BionVax’s lead product candidate M-001. M-001 is designed to provide protection against current and future seasonal and pandemic flu strains. The facility will produce bacthes of M-001 in quantities sufficient to execute a planned Phase 3 clinical trial as well as any future commercialization.

In 2016, BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) completed an EU Phase 2 clinical trial. The trial was a multicenter, double-blind, randomized and actively controlled study to assess immunogenicity and safety. That trial was completed in 2016 and results are expected early this year. In the USA, BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) will initiate, in Q1 2017, a Phase 2clinical trial using the same paramters on 180 subjects.

Shares of BiondVax Pharmaceuticals Ltd (ADR) (NASDAQ:BVXV) began trading on the NASDAQ Exchange on January 23, 2017. BVXV opened at $4.50 that day. Since then BVXV shares have never traded lower than $4.27 and today have reached an inter-day high of $7.87. (It should be noted that the pre-market trading high was $9.23.) Zacks’ is the sole firm covering BVXV shares and they rate them as a “Strong Buy” with a $15 price target.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Leave a Reply

Your email address will not be published. Required fields are marked *