As the V-shaped recovery in the markets gained momentum with the DOW up over 400 to 27,572, the COVID VACCINE stocks were finally able to take part - with some notable exceptions.
Emergent BioSolutions Inc (EBS) lost over a fifth of its value as they lost a patent decision to generic drug maker TEVA. The drug is Narcan which deals with opioid overdoses and not is not part of the COVID VACCINE process.
This company should still be a winner given its role in supporting government in delivering the covid vaccine when it is developed. They have a $686 million contract with the federal government for this purpose.
Arcutus, IBIO and Altimmune also had high single digit percentage losses.
There were 16 ups, 7 downs and one sideways.
The best performer of the day was little Geovax GOVX which was down all day until the last few minutes when it registered a 15% gain. Sorrento SRNE was up 14.5%.
Because of the few companies with outsized losses, the average gain was only .71% but today broke a losing streak for the COVID VACCINE stocks.
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