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Wednesday, May 25, 2022

Regulatory Updated on ICS-411: Icosavax, Inc. (ICVX) Stock Dwindling in Early Trading

Icosavax, Inc. (ICVX) is a leader in the biotherapeutics industry leveraging its novel VLP portfolio technology for the development of vaccines for treating infectious diseases. Its VLP platform enables multivalent exhibition of compound viral antigens. The company’s pipeline includes product candidates aiming at respiratory syncytial virus, human metapneumovirus, and SARS-CoV-2.


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ICVX stock price during the early trading session of March 24, 2022, as of the writing was $5.34 with a significant deceleration of 57.07%.

ICVX: Events and Happenings

On March 25, 2022, ICVX updated on its topline interim fallouts from its Phase 1/2 trials of IVX-411, which is a VLP candidate showing the SARS-CoV-2 RBD. The company’s management reported the below expectations response from clinical trials. The management observed well-tolerance and immunogenic activity of the potential vaccine candidate.

On March 02, 2022, ICVX reported its Executive management’s participation at the 42nd Virtual Cowen Annual Health Care Conference held on March 7-9, 2022. On January 05, 2022, ICVX issued appointing John Shiver to its Board of Directors. He had already served at two most prominent global companies, Sanofi Pasteur and Merck & Co., Inc.

ICVX: Key Financials

ICVX issued its Q3 2021 consolidated financials on November 15, 2021, for the quarter ended September 30, 2021. Some of the key aspects are mentioned here.

Revenue

The company posted grant revenue of $1.82 for Q3 2021 against no revenue in the corresponding quarter of 2020. Its revenue increased by 100% over the year along with missing the revenue estimations by $873 thousand.

EPS

Basic and diluted net loss during Q3 2021 was $34.4 million or $1.30 per share in comparison to $5.6 million or $2.40 in the comparable quarter of 2020. Its EPS decreased noticeably over the year along with the missed EPS estimates by -$0.81.

Conclusion

ICVX’s stock position plunged deep in the past year by 83%. Its stock position dropped too low in Friday’s early trading as the company announced non-satisfactory topline outcomes from Phase ½ clinical studies of ICS-411. For the first fiscal quarter of 2022, the company’s revenue outlook is $1.1 million versus -$0.43 EPS.

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