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Invivyd (IVVD) Surges on Positive Data From COVID-19 Study
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Shares of Invivyd, Inc. (IVVD - Free Report) were up a whopping 120.3% on Dec 18 after the company announced positive initial data from the phase III CANOPY study evaluating VYD222, its leading monoclonal antibody candidate for the prevention of symptomatic COVID-19.
The ongoing phase III CANOPY study is designed to check protection against symptomatic COVID-19 following the receipt of VYD222 4500 mg. Data from the same showed that treatment with VYD222 produced high serum virus-neutralizing antibody titer levels in immunocompromised participants.
Also, the initial data demonstrated continued in-vitro neutralization activity of VYD222 against the majority of COVID-19 variants, including HV.1, the variant that is currently dominant in the United States.
VYD222 has demonstrated a favorable overall safety and tolerability profile with no drug-related serious adverse effects observed to date.
The company is planning to file a request for Emergency Use Authorization for VYD222 with the FDA as soon as possible.
Shares of Invivyd have skyrocketed 128.7% in the past year against the industry’s decline of 18.3%.
Image Source: Zacks Investment Research
In November 2023, Invivyd completed enrollment in the CANOPY study with around 750 participants enrolled across two cohorts. While cohort A enrolled 300 participants with a focus on immunocompromised individuals using serum-neutralizing titers as the primary efficacy endpoint, cohort B enrolled 450 participants and will assess safety and tolerability in individuals who are at risk of SARS-CoV-2 exposure.
VYD222 was developed based on another experimental treatment called adintrevimab, which has been proven to be safe and effective in a previous clinical study for preventing and treating COVID-19.
In the absence of a marketed product, the successful development of VYD222 remains the key focus area for Invivyd.
In the past 60 days, estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 to 16 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 41 cents to 35 cents. In the past year, shares of DERM have surged 533.6%.
Earnings of Journey Medical beat estimates in one of the last four quarters while missing the same on the remaining three occasions. DERM delivered a four-quarter earnings surprise of 118.25%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. In the past year, shares of TRDA have decreased 8.9%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. In the past year, shares of PBYI have lost 22.2%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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Invivyd (IVVD) Surges on Positive Data From COVID-19 Study
Shares of Invivyd, Inc. (IVVD - Free Report) were up a whopping 120.3% on Dec 18 after the company announced positive initial data from the phase III CANOPY study evaluating VYD222, its leading monoclonal antibody candidate for the prevention of symptomatic COVID-19.
The ongoing phase III CANOPY study is designed to check protection against symptomatic COVID-19 following the receipt of VYD222 4500 mg. Data from the same showed that treatment with VYD222 produced high serum virus-neutralizing antibody titer levels in immunocompromised participants.
Also, the initial data demonstrated continued in-vitro neutralization activity of VYD222 against the majority of COVID-19 variants, including HV.1, the variant that is currently dominant in the United States.
VYD222 has demonstrated a favorable overall safety and tolerability profile with no drug-related serious adverse effects observed to date.
The company is planning to file a request for Emergency Use Authorization for VYD222 with the FDA as soon as possible.
Shares of Invivyd have skyrocketed 128.7% in the past year against the industry’s decline of 18.3%.
In November 2023, Invivyd completed enrollment in the CANOPY study with around 750 participants enrolled across two cohorts. While cohort A enrolled 300 participants with a focus on immunocompromised individuals using serum-neutralizing titers as the primary efficacy endpoint, cohort B enrolled 450 participants and will assess safety and tolerability in individuals who are at risk of SARS-CoV-2 exposure.
VYD222 was developed based on another experimental treatment called adintrevimab, which has been proven to be safe and effective in a previous clinical study for preventing and treating COVID-19.
In the absence of a marketed product, the successful development of VYD222 remains the key focus area for Invivyd.
Zacks Rank & Stocks to Consider
Invivyd currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Journey Medical Corporation (DERM - Free Report) , Entrada Therapeutics, Inc. (TRDA - Free Report) and Puma Biotechnology, Inc. (PBYI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Journey Medical’s 2023 loss per share have narrowed from $1.28 to 16 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 41 cents to 35 cents. In the past year, shares of DERM have surged 533.6%.
Earnings of Journey Medical beat estimates in one of the last four quarters while missing the same on the remaining three occasions. DERM delivered a four-quarter earnings surprise of 118.25%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. In the past year, shares of TRDA have decreased 8.9%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. In the past year, shares of PBYI have lost 22.2%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.