BiondVax Pharmaceuticals Ltd., a company developing an experimental vaccine against all strains of influenza, advanced to the highest level in more than two months in trading almost six times the average daily volume of the past three months.
The Nes Ziona, Israel-company added 10 percent to 1.052 shekels, the highest level since Nov. 1, at the close in Tel Aviv. The gains added to a three-day rally of 25 percent. The benchmark TA-25 equities index slipped 0.5 percent to 1,217.76.
Flu is widespread in the U.S. and deaths from the virus and pneumonia are slightly above the epidemic level, though some regions may begin to see fewer cases, according to the Centers for Disease Control and Prevention. The Atlanta-based agency doesn’t tally adult deaths until after the end of the season. Two children in New York have died from the flu, and more than 19,100 cases in the state prompted a public health emergency, according to the agency.
BiondVax says its lead product, Multimeric-001, which is designed to provide multi-season and multi-strain protection against most human influenza virus strains, was shown to be safe in two Phase II and two Phase I/II clinical trials. The company plans to start a Phase III trial this year, according to its website. The company has never recorded a profit and its product is not approved for use anywhere in the world.
New York Governor Andrew Cuomo declared a public health emergency in response to the outbreak with cases being reported in all 57 counties in the state and all five boroughs of New York City. Almost 3,000 people have been hospitalized with the flu, the governor’s office said in a statement.
The company will present details of clinical trials of its M-001 vaccine to a World Health Organization meeting on influenza vaccines on Jan. 24 in Hong Kong.