Clinical stage biotech firm Vaccinex Inc (NASDAQ:VCNX) could be one to watch this morning considering the fact that the company’s stock had emerged as one of the major gainers yesterday. Investors piled on to the Vaccinex stock in a big way yesterday and sent it soaring by as much as 9%.
Trading Data
On Tuesday, VCNX stock gained 8.82% to $1.1 with more than 42.27 million shares, compared to its average volume of 200k shares. The stock has moved within a range of $1.1000 – 1.2800 after opening trade at $1.24.
Reports Two Complete Responses in First Three Patients Enrolled in the Phase 1b/2
The company, which is involved in the development of differentiated approach to the treatment of neurodegenerative diseases and cancers, was actually in the news yesterday. Vaccinex announced the interim response data in relation to the Phase 1b section of the KEYNOTE B84 study into the use of the company’s pepinemab in conjunction with KEYTRUDA, Merck’s anti-PD1 therapy.
In the study, the combination had been used to treat patients who had been suffering head and neck squamous cell carcicoma. The company announced that three patients had been part of the part of the study that was related to the safety aspect and two of them managed to experience complete response.
It was a significant development for the company and may have been one of the major reasons behind the rally that was seen in the Vaccinex stock yesterday. It might now be a good time to consider adding the stock to your watch lists.
VCNX stock is trading below the 20-Day and 50-Day Moving averages of $1.13 and $1.34 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.09.
