FDA Gives Emergency Use Nod To Invivyd's Antibody To Prevent COVID-19 Infection In Adults, Adolescents With Weak Immune System
Portfolio Pulse from Vandana Singh
The FDA granted emergency use authorization to Invivyd Inc's Pemgarda for COVID-19 prevention in individuals with immune compromise. Invivyd announced financial details, including a cash runway into Q4 2024, and shared interim data from the CANOPY Phase 3 trial of VYD222 (Pemgarda), showing promising results against COVID-19. However, IVVD shares dropped 13.20% to $3.79.
March 25, 2024 | 1:44 pm
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FDA grants emergency use authorization to Invivyd's Pemgarda for COVID-19 prevention in immune-compromised individuals. Despite positive trial results, IVVD shares fell 13.20% to $3.79.
The FDA's emergency use authorization for Pemgarda is a significant positive development for Invivyd, indicating potential for increased product demand and revenue. However, the immediate stock price drop suggests market concerns or profit-taking. The contrast between the regulatory approval and the stock price movement highlights the complex dynamics affecting stock prices in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100