Monday 8 June 2020

Strong day for COVID VACCINE Stocks with an exception or two.







A good start to the week. 

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.

https://www.investors.com/news/technology/opioid-overdose-treatment-teva-wins-battle-copy-emergent-narcan/   

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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