VXRT - Why Vaxart Inovio and Sorrento Therapeutics Stocks Soared Today
The war against COVID-19 is intensifying, and investors are placing their bets on which companies they believe will emerge victorious. Shares of Vaxart (NASDAQ: VXRT), Inovio Pharmaceuticals (NASDAQ: INO), and Sorrento Therapeutics (NASDAQ: SRNE) rocketed 96%, 31%, and 14%, respectively, on Thursday.
Vaxart's shares almost doubled after the biotech company announced a "memorandum of understanding" with Attwill Medical Solutions (AMS) for the potential production of its experimental oral COVID-19 vaccine for the SARS-CoV-2 virus.
"We believe AMS' experience coupled with its ability to manufacture a billion or more doses per year would be a beneficial addition to our group of [contract development and manufacturing organization] partners, and enable the large scale manufacturing and ultimate supply of our COVID-19 vaccine for the U.S., Europe, and other countries in need," Vaxart CEO Andrei Floroiu said in a press release.