Shares of microcap biotech Invivyd (NASDAQ:IVVD) jumped ~94% on Tuesday to reach the highest level in more than five months, a rally not seen since early this year as the company’s experimental COVID-19 therapy drew renewed investor interest.
The upsurge came after The Daily Beast reported on Monday that the Trump administration is planning to withdraw messenger RNA-based COVID-19 vaccines from the U.S. market within the coming months.
Earlier this month, Waltham, Massachusetts-headquartered Invivyd (NASDAQ:IVVD) announced that it has aligned with the U.S. FDA on an expedited pathway that could allow it to receive full approval for its COVID-19 vaccine alternative VYD2311 in the U.S.
VYD2311 leverages the same antibody construct as Pemgarda (pemivibart), a monoclonal antibody marketed by IVVD under the FDA’s emergency use authorization for the prevention of COVID-19 in certain immunocompromised patients.
Invivyd (NASDAQ:IVVD) shares nearly tripled in value after the company announced data from a small Phase 1/2 trial for VYD2311 in February, highlighting its potential as an option for COVID prevention with a long dosing interval.
https://www.msn.com/en-us/money/markets/invivyd-rallies-amid-interest-in-covid-therapy/ar-AA1LgKvQ
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