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It may be the ultimate silver lining story in a week that has seen record stock market declines. The race to develop a vaccine for C0V-ID19, otherwise known as the new coronavirus, has seen a number of bio-tech firms’ share price hit the roof.
IBio (NYSE:IBIO) announced last week that it would be working on a vaccine in it’s Texas lab in conjunction with Beijing-based CC Pharming. The lab started in 2010 and was partially funded by the US Defense Department. It’s leaders were involved in developing a vaccine for MERS. The stock has soared from $0.31 to $2.49. It has traded an astonishing 400,000,000+ shares in just the last 2 days – it was trading less than 3 million shares a day for most of January.
Oral vaccine specialist Vaxart (NASDAQ:VXRT) in San Francisco has seen it’s share price double, as has nanoparticle vaccine developer Novavax (NASDAQ:NVAX) in Maryland.
Closer to home Victoria BC based ImmunoPrecise Antibodies (TSX-V:IPA) announced last week that it had launched a coronavirus vaccine and therapeutic anti-body program in both it’s Canadian and European laboratories. The stock has seen a 20% increase so far, and as a smaller entity, may be flying under the radar screen of US and international investors.
With near-daily protests and blockades disrupting the Lower Mainland, residents are beginning to see some key faces appearing regularly on their TV screens.
While demonstrators have taken pains to reject the label of “protester,” referring to themselves instead as land defenders supporting Indigenous sovereignty, it has become apparent that behind many of the actions is a much smaller group of activists.
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Quote of the Week
A beauty from celebrated economist, Thomas Sowell on a generation that’s been raised to ignore facts – and the consequences.
Shocking Stat
No matter where you live you can always find someplace worse, as the shocking stats re Baltimore’s mayoralty race confirms.
Goofy
Even in the face of such serious issues like the Coastal Gaslink dispute, it’s amazing how fast politics turn petty.
Mike’s Editorial – Feb 22nd
Posted by Michael Campbell
on Saturday, 22 February 2020 13:27
Finally – arguably the biggest myth pushed by anti-pipeline opponents has been exposed. They won’t like it but it’s changed the debate.