• Vaccinex stock soars 223% on partnership deals using its antibody discovery platform

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    Vaccinex shares were up as much as 223% Friday on two project deals with pharmaceutical companies. 
    Trading volume of 196 million shares outpaced the average daily volume of about 540,000. 
    The company did not disclose the value of the two deals. 
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    Vaccinex stock rocketed up more than 200% Friday, propelled by two collaboration deals centered on using the biotech company’s antibody discovery platform. 
    Vaccinex, which focuses on cancer and neurodegenerative disease, said it signed multi-project deals with two unnamed "prominent" pharmaceutical companies. Financial terms of the deals were undisclosed. 
    Shares jumped as much as 233% to an intraday high of $9.56 before the gains were pared to 150%. Trading volume of more than 196 million shares in late-morning action trumped the average volume of about 540,000 shares. The stock began this year at a little more than $2 each. 
    The collaborations will use the company’s ActivMAb technology which Vaccinex said has multiple applications that include discovering antibodies specific for complex membrane antigens. 
    Shares of Vaccinex traded at $6.18 at 12:19PM E.T. on Friday. 
    Read the original article on Business Insider

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