High flying recent IPO Schrödinger (SDGR -3.9%) announces a three-year deal with Google Cloud aimed at increasing the speed and capacity of its physics-based computational platform for drug discovery. Terms are undisclosed.
Although shares are down today, they are up ~160% from the $17 IPO price on February 6.
On the heels of six COVID-19 deaths in the Seattle area, U.S. officials are hurriedly preparing for more infections despite the still-modest number of Americans affected, 91 as of March 1. 10 states have reported confirmed or presumed cases.
President Trump and his task force are meeting with pharmaceutical executives today, including representatives of Johnson & Johnson (JNJ +2%), GlaxoSmithKline (GSK +3.6%), Pfizer (PFE +2.3%), Moderna (MRNA +12.5%), Inovio Pharmaceuticals (INO -4.6%), Regeneron Pharmaceuticals (REGN +3.3%), Gilead Sciences (GILD +7.1%) and Sanofi (SNY +3.4%), to discuss ways to accelerate the development of a vaccine although, at best, one will not be available for at least 18 months.
Globally, the total number of cases has topped 87K with almost 3K deaths in 60 countries.
Dynavax Technologies (NASDAQ:DVAX) is up 17% premarket after collaborating with the University of Queensland as part of a Coalition for Epidemic Preparedness initiative to develop a vaccine to prevent COVID-19.
The company is providing technical expertise and toll-like receptor 9 agonist adjuvant, CpG 1018, to support this initiative.
CpG 1018 is used in HEPLISAV-B [Hepatitis B Vaccine (Recombinant), Adjuvanted]. It provides a well‑developed technology and a significant safety database, accelerating the development of a COVID-19 vaccine.
In yet another example of the animal spirits related to any company even mentioning coronavirus, ultra-thinly traded nano cap Daxor (NYSEMKT:DXR) is up 63% premarket, albeit on only 25K shares, in reaction to its announced “engagement” with hospitals and government agencies regarding the use of its blood volume analyzer, BVA-100, in critically ill COVID-19 patients.
It says a clinical trial showed that the use of the device reduced mortality by as much as 66% in patients suffering from respiratory distress and septic shock, adding that it has an inventory of product “ready for deployment.”
Marker Therapeutics (MRKR +0.6%) has entered into an agreement with Aspire Capital Fund, LLC for the purchase of upo to $30M of its common stock over a 30-month period. Proceeds will fund pipeline development.
