VBI Vaccines Inc. (VBIV) Stock Sees Selling Pressure After The Recent Jump

VBI Vaccines Inc. (NASDAQ:VBIV) dropped 10% on no news. However, recently the company released promising phase 1 results from the Phase 1/2 study of  VBII-2902a, the first of the company’s enclosed virus-like particle (eVLP) coronavirus vaccines candidates in adults between 18-54 years. Findings indicated that VBI-2902a was well tolerated and evoked a strong immune response considerably higher than what is available in human convalescent sera. In addition, the data establishes a strong human proof-of-concept using a low dose without an adjuvant.

The company also announced the voting results of its annual shareholder meeting on June 9, 2021. The total company common shares represented during the meeting in person or through proxy was 162,568,059 shares representing 63.99% of all outstanding and issued common shares on record as of April 16, 2021. All seven nominees for directors were approved through majority votes.

Shareholders also approved EisnerAmper LLP as the company’s accounting firm and authorized the board’s audit to commit to fixing a remuneration. So in the coming months, VBIV is a stock to watch.

Market Reaction:

On Wednesday, VBIV stock fell 10% to $3.35 with more than 5.07 million shares, compared to  its average volume of 3.47 million shares. The stock has moved within a range of $3.3400 – 3.6900  after opening the trade at $3.70. Over the past 52-week, the stock has been trading within a range of $2.0700 – 6.9300.

Related Posts

About The Author