Why Is Vaccine Focused Gritstone bio Stock Trading Higher Today?

Gritstone Bio Inc GRTS received a contract from the Biomedical Advanced Research and Development Authority (BARDA) to conduct a Phase 2b comparative study evaluating its self-amplifying mRNA (samRNA) vaccine candidate containing Spike plus other viral targets to protect against COVID-19. 

The agreement, which is valued at up to $433 million, was awarded as part of ‘Project NextGen,’ an initiative by the U.S. Department of Health and Human Services (HHS) to advance a pipeline of new, innovative vaccines and therapeutics providing broader and more durable protection for COVID-19.

Under the contract, Gritstone Bio will conduct a 10,000-participant, randomized Phase 2b double-blinded study to compare the efficacy, safety, and immunogenicity of the Gritstone next-generation COVID-19 vaccine candidate with an approved COVID-19 vaccine. 

Across multiple Phase 1 studies, our samRNA vaccine, which incorporates both Spike and other viral targets (Spike plus), has demonstrated the induction of potent immune responses with the potential to drive broad and durable clinical protection. 

The Phase 2b study (CORAL-BARDA) is expected to be initiated in the first quarter of 2024. 

Price Action: GRTS shares are up 33.60% at $1.59 during the premarket session on the last check Thursday.