The biopharmaceutical company Formycon has stepped onto the big stage of the corona hopefuls with the publication of the data on a corona antibody.
That is “good news,” said analyst Damien Choplain from Kepler Cheuvreux. Such, as stated by the company, “excellent protection” by the active ingredient against mutations is currently not available for vaccines and other therapeutic antibodies under development.
“The market reaction is exaggerated, however,” said Choplain, referring to the early stage. Clinical development is likely to begin towards the end of the new year and possible approval is not expected until the end of 2022 at the earliest. His investment rating for the share is still “Buy” with a price target of 45 euros, which is now well below the market level.
At 61 euros, the share hit a record high in the first few minutes of trading, more than doubling since Tuesday. In the further course of trading, however, it has already come back and is currently quoted at a value of 55.80 euros. On a weekly basis, there is an increase of over 80 percent.
onvista / dpa-AFX
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