EVOTEC share in demand: EVOTEC subsidiary receives order for antibodies against COVID-19 | 07/22/20

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Platform company Just – EVOTEC Biologics has received an order from the U.S. Department of Defense worth up to $ 18.2 million to develop and manufacture monoclonal antibodies to treat and prevent COVID-19.

As the parent company EVOTEC SE, listed in the MDAX and TecDAX, announced, the aim of this program is to provide the United States Department of Defense quickly and efficiently with monoclonal antibodies.

Seattle-based Just – EVOTEC Biologics Inc will design a manufacturing process for two monoclonal antibodies to SARS-CoV-2 antigens for clinical use under this agreement. The monoclonal antibodies are to be tested in early clinical studies and ultimately used to treat and prevent SARS-CoV-2 infections.

EVOTEC share wins on order

An important order from the USA gave EVOTEC shares momentum on Wednesday. In the morning you sometimes win 2.46 percent on XETRA to 24.97 euros. They climbed back towards their June high of € 25.59. A jump above that would have made up for the losses since the start of the Cornona stock market run in February, which reached its low in March. Up to the annual high of EUR 26.74, which was also reached in February, just under 6 percent is still missing.

The order, which the subsidiary Just – EVOTEC Biologics received, is worth up to US $ 18.2 million (EUR 15.9 million). According to analyst Bruno Bulic from Baader Bank, the contract should contribute 1.9 percent to sales in 2020. If EVOTEC is successful with its antibody development, the capacities should be expanded. He is therefore waiting for clinical data to adjust his estimates against the background of possible sales increases at Just for 2021.

(Dow Jones) / (dpa-AFX)

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