NewLink Genetics Corporation (NASDAQ: NLNK) was one of the top gainers in Tuesday’s trading session. The stock has been gaining consistently since October driven by a series of good news. More recently, on the 20th of December, the company announced that, the FDA had given approval for ERVEBO, a move that was confirmed by the company’s partner Merck (MRK). The company further added that, this was the first vaccine for Ebola to be approved by the FDA. It comes after the 11th November grant by the European Commission for the vaccine in 31 European nations.
The company’s Chief Medical Officer, Eugene Kennedy stated that, they were happy with the FDA’s decision to approve the vaccine, and that the vaccine had the potential to protect people exposed to the disease from contracting it. The CEO also commented on the approval stating that, they were grateful to their partner Merck, and the regulatory bodies for the commitment in pushing solutions that combat the deadly Ebola disease.
On top of the positive Ebola vaccine news, on the 23rd of December, the company announced an exclusive global license agreement with Ellipses Pharma. The agreement is for the development and rights to the sale of NLG207. NLG207 is a nanoparticle formulation of the topoisomerase one inhibitor. The agreement between the two companies started on the 17th of December, and stipulates that, Ellipses buys NewLink’s inventory of NLG207. On top of that, NewLink stands to receive royalties in the future, in relation to NLG207. The deal also gave Ellipses the right to develop CRLX-301, a nanoparticle formulation that is through with a phase 1a study.
Looking at the charts, the stock has been gaining upside momentum, and on the 24th of December, it traded between a low of $2.07 and a high of $2.60 before closing the day at $2.33. Volumes in the day stood at 5.68 million.
About NewLink Genetics Corporation
NewLink Genetics Corporation is an immune-oncology company that develops treatments for cancer patients. It is based in Ames, IOWA.