There were a number of stocks which managed to record substantial gains amidst heavy trading and one of those was that of BiondVax Pharmaceuticals Ltd (NASDAQ:BVXV), which clocked gains of as much as 40%. Considering the magnitude of the gains made by the stock, it may be a good move for investors to perhaps take a look at a development from last week.
Trading Data
On Friday, BVXV stock gained 2.3% to $1.78 with more than 2.88 million shares, compared to its average Friday of 1.48 million shares. The stock moved within a range of $1.5900 – 1.8000 after opening trade at $1.60.
BiondVax signs definitive collaboration agreement for the development of a pipeline of innovative nanosized antibody (NanoAb) therapies
The company, which is involved in the development of products for treating and preventing infectious diseases, announced on March 24 that it had inked a series of definitive agreements with the Max Planck Society, which is the parent entity of Max Planck Institute for Multidisciplinary Sciences.
In addition to that, another agreement was signed with the University Medical Center in Gottingen. Both the organisations are based out of Germany. The news about the agreements came as a source of considerable optimism for investors and soon enough the BiondVax stock rallied strongly.
As per the provisions of the agreement between the parties, the company is going to work on the development of innovative nanosized antibodies. At this point in time it remains to be seen if the stock can actually mange to add to its gains this week.
Key Quote
Mr. Amir Reichman, BiondVax’s CEO, commented, “The NanoAb platform is an incredible opportunity for BiondVax. It will serve as a basis for an exciting new pipeline of commercially attractive products to address large and growing markets significantly underserved by existing biological treatments. We are going after targets already validated, but with a proprietary NanoAb that we expect will have meaningful advantages in efficacy, cost and ease of use and treatment; a true ‘biobetter’ capable of capturing significant market share and expanding the market. The technology is also a great fit to our manufacturing site in Jerusalem and our experience and expertise in biological drug development. I would like to thank Professors Görlich and Dobbelstein for their enthusiasm for this project, and Max Planck Innovation’s technology transfer team including Dr. Dieter Link and Florian Beilhack for their assistance in developing this innovative collaboration.”
Technical Data
BVXV stock is trading above the 20-Day and 50-Day Moving averages of $1.36 and $1.34 respectively. However, the stock is trading below the 200-Day moving average of $2.11.
