Investors rush into biotechs working on coronavirus vaccine

  • “At least a dozen companies have informally or formally announced vaccine or drug development initiatives,” said Needham’s Alan Carr. “It appears at least a few programs will have moved into clinical testing within a few months.”
  • Vir Biotechnology surged 110% in the past month, while Novavas gained 87% during the same period.
  • Inovio Pharmaceuticals skyrocketed 34% in January after it said it’s in the process of developing a vaccine against the new deadly virus.
  • Morgan Stanley is bullish on Moderna and Regeneron, which recently indicated plans to develop vaccine and produce therapeutic antibodies against the virus.

The deadly coronavirus worsened quickly this month, roiling the financial markets as investors fled risk assets amid concerns the outbreak would disrupt the global economy. Meanwhile, a number of biotech companies have ramped up vaccine or drug programs to battle the disease, causing investors to bid up their shares amid the market rout.

Traders are hoping their initiatives to develop treatment and prevention for the coronavirus could come to fruition at some point. Vir Biotechnology surged 111% in the past month, while Novavas gained 91% during the same period.

Source: https://www.cnbc.com/2020/02/01/heres-your-guide-to-biotech-companies-working-on-coronavirus.html

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