Invivyd shares are trading higher after the company announced that PEMGARDA received emergency use authorization from the FDA for the pre-exposure prophylaxis of COVID-19. The company announced interim exploratory data on VYD222 from its ongoing CANOPY clinical trial.
Portfolio Pulse from Benzinga Newsdesk
Invivyd's stock price increased following the FDA's emergency use authorization for PEMGARDA, a pre-exposure prophylaxis for COVID-19. Additionally, the company shared interim exploratory data from its CANOPY clinical trial on VYD222.
March 22, 2024 | 7:56 pm
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POSITIVE IMPACT
Invivyd's stock is likely to experience a short-term increase in price following the FDA's emergency use authorization for PEMGARDA and positive interim data from the CANOPY trial.
The FDA's emergency use authorization for a company's product typically leads to positive investor sentiment, as it represents a significant regulatory milestone. Additionally, positive interim data from clinical trials can further bolster investor confidence in the company's research pipeline, potentially leading to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100