Heat Biologics (HTBX) Stock Climbs On COVID-19 News

Heat Biologics HTBX Stock News

Heat Biologics Inc (NASDAQ: HTBX) is flying in the market this morning, trading on gains of more than 30%. The gains come after the company announced that it has entered into a Research Collaboration with the University of Miami, surrounding the Wuhan coronavirus. Here’s what’s going on:

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HTBX Stock Soars On University Of Miami Partnership

In the press release, Heat Biologics said that it has entered into the collaboration with the University of Miami Miller School of Medicine. The team will work together to develop a vaccine.

In the announcement, HTBX said that the work will surround its proprietary gp96 platform. This is incredibly important as to date, the company has treated more than 300 patients with therapeutic vaccines based on this platform.

When looking at results from earlier studies, there have been positive outcomes across a broad range of antigens, with the company’s candidates generating robust systemic immune responses. Moreover, theres responses have been seen in various organs including the gut, reproductive tract, liver and lungs.

Essentially, the vaccine being created here will use gp96 to create open docking sites for the insertion of multiple SARS-CoV-2 antigens. The company said that it believes that this approach will generate a robust response as it has in the past.

Once docking sites are created, the vaccine will induce a multi-epitope specific memory CD8 T-cell response. This response should protect against multiple, distict coronavirus strains across diverse human populations.

In a statement, Jeff Wolf, CEO at HTBX, had the following to offer:

We are excited about our collaboration with the University of Miami to develop a gp96-based vaccine designed to prevent the spread of COVID-19. gp96 is a powerful vaccine platform that has been shown to induce a potent immune response, which may protect against COVID-19 and other highly-virulent infectious diseases. We look forward to advancing this important program.

Why Investors Are So Excited

If you’ve been following the market at all as of late, you know that COVID-19 has been the catalyst driving just about every move that we’ve seen lately. As the virus continues to spread around the world, the race is on to develop vaccines, treatments, and other products to fight the spread.

While several companies have announced that they are working on a coronavirus vaccine, few have actually announced anything of subatance. Today’s announcement from Heat Biologics puts it in this category.

Ultimately, the HTBX now joins the ranks of companies like Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) that have something tangible in the fight against COVID-19. Now that investors know that the company does indeed have a dog in the fight, they’re starting to see an opportunity in the making.

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