Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of Vaccinex Inc (LON: VCNX) are soaring on Friday after the company announced two multi-project deals with two undisclosed “prominent” pharmaceutical companies.
The US-based company said the collaborations will focus on using ActivMAb, Vaccinex’s antibody discovering and novel viral display platform for antibody discovery against complex antigens such as GCPR’s and ion channels.
There were no financial terms disclosed regarding the deals.
“These two collaboration agreements with prominent pharmaceutical companies underscore ActivMAb’s unique ability to discover promising antibodies against challenging molecules with tangible R&D value. We look forward to working closely with our partners to develop potential treatments specific for such previously hard to drug targets,” said Ernest Smith, chief scientific officer of Vaccinex.
Vaccinex shares are currently trading 145% higher at $7.06 per share, after reaching highs of $9.54 earlier in the day.
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