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Vaxxinity, Inc. (Nasdaq: VAXX) announced promising results from studies on its COVID-19 vaccine candidate, UB-612, which exhibited strong antibody responses against various SARS-CoV-2 variants, including Omicron. Notably, UB-612 generated neutralizing antibody titers over three times higher than an approved mRNA vaccine. The studies, conducted at University College London, involved 92 participants and highlighted UB-612's potential effectiveness against current and future variants. Vaxxinity aims to present these findings at the World Vaccine Congress in April 2022.
Vaxxinity, Inc. (Nasdaq: VAXX) announced that the first patient with Parkinson's disease has been dosed with UB-312 in the second part of its Phase 1 clinical trial. UB-312 targets toxic forms of α-synuclein and was previously shown to be safe and well-tolerated in healthy volunteers. This milestone is part of a study enrolling up to 20 patients to evaluate safety and immunogenicity, with support from the Michael J. Fox Foundation. UB-312 has received orphan designation for multiple system atrophy (MSA) from the EMA, marking a significant step in developing disease-modifying treatments for Parkinson's disease.
Vaxxinity, Inc. (NASDAQ: VAXX) has secured a grant from The Michael J. Fox Foundation to investigate markers for target engagement in Parkinson's disease. This funding supports the advancement of UB-312, a vaccine candidate that has shown promise in treating synucleinopathies. The Phase 1 study has completed Part A, demonstrating tolerability and immunogenicity in healthy volunteers. Vaxxinity plans to initiate Part B of the trial in Parkinson's patients soon. The research aims to utilize Protein Misfolding Cyclic Amplification to enhance understanding of target engagement in vaccine candidates.
Vaxxinity, Inc. (Nasdaq: VAXX) has appointed Jason Pesile as Senior Vice President of Finance & Accounting and George Hornig to its Board of Directors. Jason brings 20 years of biopharmaceutical finance experience, previously serving as Vice President Finance at BeyondSpring Pharmaceuticals. George Hornig, the new independent director and Audit Committee Chair, has extensive expertise in major financial institutions. CEO Mei Mei Hu expressed enthusiasm for these appointments, which are expected to enhance Vaxxinity's operational and strategic initiatives in developing innovative immunotherapeutic vaccines.
Vaxxinity, Inc. (Nasdaq: VAXX) reported Q3 2021 financial results, highlighting significant growth in R&D expenses, which reached $23.6 million, up from $7.8 million year-over-year. Cash and cash equivalents stood at $89.4 million following a successful IPO that raised approximately $71.1 million. The company is developing several vaccine candidates, including UB-311 for Alzheimer's, UB-312 for Parkinson's, and UB-612 for COVID-19. However, the net loss expanded to $30.4 million from $16.5 million in Q3 2020, indicating rising operational costs amidst clinical advancements.
Vaxxinity closed its initial public offering (IPO) on November 15, 2021, selling 6 million shares of class A common stock at $13.00 each, raising approximately $78 million. Additionally, a further 537,711 shares were issued following the underwriters' option, bringing total gross proceeds to around $85 million. The company's stock began trading on Nasdaq under the ticker symbol VAXX on November 11, 2021. This offering positions Vaxxinity to advance its innovative immunotherapeutic vaccines aimed at treating chronic diseases and contributing to public health initiatives.
Vaxxinity, a U.S. biotechnology firm, has priced its initial public offering (IPO) at $13.00 per share for 6,000,000 shares of class A common stock, aiming to raise approximately $89.7 million. There is a 30-day option for underwriters to purchase an additional 900,000 shares. Trading is expected to commence on Nasdaq under the ticker symbol VAXX on November 11, 2021, with the offering closing on November 15, 2021, pending customary conditions. The company is focused on developing immunotherapeutic vaccines targeting chronic diseases and COVID-19.