The share price of Vaccinex, Inc. (VCNX) is increasing in pre-market trading on Tuesday 9thMarch as of this writing. At the moment, VCNX share is trading at $2.98 per share after an increase of 3.83% in the normal trading hours on Monday 9thMarch, the share price declined and it was closed at $2.87 per share. Still, there is no news in the market for the fluctuation share price.
About the company
Vaccinex, Inc is a biotechnology company. The company is famous for developing human therapeutic monoclonal antibodies and vaccines for the treatment of diseases such as cancer, neurodegenerative diseases, and autoimmune disorders. The company is using a different approach to treating neurodegenerative disease through the inhibition of semaphorin 4D (SEMA4D), a key driver of neuroinflammation. The company also discovered that in combination with checkpoint inhibitors, pepinemab(the company’s lead drug candidate) has the potential to increase objective responses in oncology.
The company is working with many other companies in collaboration for the development of different drugs
Recent financial news about the VCNX:
On Feb 23, 2021, the share price of VCNX went down despite the news that Surface Oncology Inc ( SURF) will license the anti-CCR8 antibody which was discovered by the VCNX through Vaccinex’sActivMAb antibody discovery and novel viral display platform. According to the news, Surface Oncology will be paying the technology access and licensing fees in addition to research funding.Vaccinex will get the milestone payments and royalties.
On Feb 19, 2021, the share prices of Vaccinex skyrocketed and hit their highest level since it went public in August 2018. The company announced the deals with two major pharmaceutical companies which took the share price to a new peak and it soared 119.9% till midday on Feb 19 2021 and an earlier gain of as much as 233.1%. the company did the most shares trading after the news and it reached 215.3 million shares. The deal was about the use of Vaccinex’s antibody discovery and novel viral display platform, ActivMAb, for antibody discovery. Vaccinex did not disclose the partner’s name in the above-mentioned deal.