The coronavirus pandemic has shown no signs of going away and a vaccine is still awaited, which is why companies that are making progress in that regard have seen their stocks soar. The latest company to join that list is Heat Biologics Inc (NASDAQ:HTBX) after the company announced encouraging results from the preclinical testing of its coronavirus vaccine.
COVID-19 vaccine shows encouraging action in preclinical study
The news proved to be a major boost for the Heat Biologics stock as well and it soared by as much as 45% in early trading as investors piled on to it.
The company announced that the vaccine candidate demonstrated immunogenicity in animal models. The company went on to add that the results demonstrated that there was the expansion of antibody-supporting CD4+ and virus-killing CD8+ T cells in mice lungs. These are encouraging signs for the company and it remains to be seen if the Heat Biologics stock can add to its gains further through the rest of the day.
The vaccine was created on the gp96 platform by Heat Biologics and Natasa Strbo, who is a co-developer of the platform, spoke about the developments as well. Strobe is an MD and is also the Assistant Professor of Microbiology and Immunology at the University Of Miami Miller School Of Medicine.
She stated that the observations with regards to T-cell expansion and cytokine secretion when stimulated with the spike in protein have proven to be encouraging. However, it should be noted that the tests were conducted on animal models and it remains to be seen how the vaccine performs in human trials.
Strbo stated that the data has also provided encouraging signs with regards to a possible human trial and that is something that everyone is going to look forward to. That being said, the preclinical results are no doubt encouraging and the rally in the stock has not come as a complete surprise. Investors could do well to keep an eye on the developments regarding Heat going forward.