Valneva stock rocketed Thursday after the company said volunteers who received its Pfizer-partnered Lyme disease vaccine still had antibodies after six months.
Though antibody levels declined six months after participants finished their primary series, the levels remained above where they were prior to receiving the vaccine. Overall, the three-dose vaccine led to higher antibody levels than two doses, the companies said in a news release.
The results validate the decision to use the three-dose series in a Phase 3 test, Valneva Chief Medical Officer Juan Jaramillo said in a written statement. That study is ongoing. The companies hope to sign up about 6,000 participants age 5 and older in the U.S. and Europe.
"Lyme disease continues to spread, representing a high unmet medical need that impacts the lives of many in the Northern Hemisphere, and each new report of positive data takes us a step closer to potentially bringing this vaccine to both adults and children who could benefit from it," he said.
On today's stock market, Valneva stock surged 7.8% to close at 13.79. Pfizer stock rose 1.9% to finish at 51.08.
Is Valneva Stock Bucking Its Downtrend?
The companies tested two groups of patients — children ages 5-17 and adults. Some received the two-dose series with shots at the beginning of the study and at six months. Others received shots at the beginning of the study, after two months and at six months.
Among participants of all ages who received the three-dose series, virus-blocking antibodies rose 1.9-fold to 3.2-fold. Children ages 5-11 showed the highest increase in antibodies, up 2.8-fold to 6.6-fold.
The results helped buoy Valneva stock, which has slowly trended down since June. Shares are sitting on a floor at their 50-day moving average, according to MarketSmith.com.
Pfizer stock, on the other hand, has steadily climbed over the last two months. Shares are consolidating with a buy point at 61.81.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
