On January 04, Gritstone Bio Inc. (GRTS) shared positive clinical data from the first cohort of the Phase 1 study of its Covid-19 vaccine. Consequently, the stock was trading at $7.53 apiece premarket at the last check on Wednesday.
In the previous market session, the stock saw a huge loss of 42.41% at its close of $7.02. Following the announcement, the stock gained 7.26% in the premarket at the time of writing.
The clinical-stage biotechnology company, Gritstone Bio Inc. has a market capitalization of $828.77 million. Currently, the company has 67.99 million shares outstanding in the market.
GRTS’s CORAL Study
The company’s CORAL program is designed to develop a second-generation COVID-19 vaccine. Moreover, the vaccine is being developed on the recognition of T cell immunity’s importance in protection against current and future Spike variants. In addition to robust neutralizing antibodies, the vaccine will also induce broad CD8+ T cell immunity.
CORAL-BOOST is GRTS’s one of four trails in the CORAL program. It is studying the safety, reactogenicity, and immunogenicity of samRNA vaccine against SARS-CoV-2. Further, the vaccine is being studied as a booster in adults under 60 (after two doses of AstraZeneca’s Vaxzervria).
On Tuesday, the company announced positive clinical data from the first cohort of the CORAL-BOOST study. As per the results, the vaccine demonstrated robust neutralizing antibody responses to Spike and strong CD8+ T cell responses. According to the co-founder, President, and CEO of GRTS, Andrew Allen, this validates the company’s infectious disease platform’s potential.
Added to this, the vaccine also constructed a favorable safety profile and was well-tolerated. Given the positive data, the company has increased enrollment to 120 subjects and will also evaluate an additional second dose.
Recent Announcements
On December 30, the company announced its management’s presentations at three upcoming investors conferences in January. These are:
- JP Morgan 40th Annual Global Healthcare Conference on Thursday, January 13.
- C Wainwright BioConnect Conference 2022, on Monday, January 10.
- Riley Securities’ 2022 Virtual Oncology Conference, on January 27.
Mr. Allen will be presenting at the above-mentioned conferences on the given dates.
GRTS Q3 Financial Highlights
On November 04, the company announced its financial results for the third quarter of 2021.
The company had a collaboration revenue of $2.4 million in Q3 of 2021, against $0.8 million in the same period of 2020.
Furthermore, GRTS ended the quarter with cash, cash equivalents, marketable securities, and restricted cash of $216.4 million.
