U.S. markets close in 36 minutes
  • S&P 500

    -99.85 (-2.59%)
  • Dow 30

    -598.96 (-1.94%)
  • Nasdaq

    -373.49 (-2.74%)
  • Russell 2000

    -35.24 (-1.64%)
  • Crude Oil

    +0.03 (+0.06%)
  • Gold

    -10.90 (-0.59%)
  • Silver

    -0.29 (-1.15%)

    -0.0065 (-0.53%)
  • 10-Yr Bond

    -0.0260 (-2.50%)

    -0.0046 (-0.34%)

    +0.5690 (+0.55%)

    -870.43 (-2.70%)
  • CMC Crypto 200

    -9.30 (-1.45%)
  • FTSE 100

    -86.64 (-1.30%)
  • Nikkei 225

    +89.03 (+0.31%)

Kindred Shares Up on Expansion of Agreement With Vaxart

Zacks Equity Research
·3 min read

Shares of Kindred Biosciences, Inc. KIN rose 8.3% after it announced that it has expanded an agreement with Vaxart, Inc. VXRT for the manufacturing of the latter’s oral vaccine for COVID-19 and other vaccine candidates. The manufacturing services will be performed via a wholly-owned subsidiary of KindredBio —Centaur Biopharmaceutical Services. However, shares of Kindred have slumped 43% year to date against the industry’s growth of 2.2%.

Centaur is a full-service contract development and manufacturing organization that specializes in protein-based biologics and virus-based products. With facilities in California and Kansas, the company’s capabilities span cell-line development, process development, analytical development, process characterization, clinical manufacturing and commercial manufacturing, including aseptic fill-and-finish. Under the terms of the expanded agreement, Centaur will be responsible for scaling COVID-19 clinical trial material into mid-size bioreactors at its California plant. In addition, itsKansas plant will be used for vaccine manufacturing at 2000L scale in its single-use bioreactors.

Vaxart’s COVID-19 candidate is the only oral vaccine to be selected for inclusion in the U.S. government’s Operation Warp Speed (OWS) program.

We remind investors that in May 2020, Kindred entered into an agreement with Vaxart to manufacture the latter’s oral vaccine candidate for COVID-19. Per the agreement, KindredBio would provide manufacturing services from its manufacturing facility in Burlingame, CA. Kindred entered into the agreement to produce the candidate vaccine bulk drug substance and provide it to Vaxart to be formulated into an oral vaccine tablet, as opposed to an injection. 

Zacks Rank &Stocks to Consider

Kindred currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. EBS and AVEO Pharmaceuticals Inc. AVEO. While Emergent sports a Zacks Rank #1 (Strong Buy), AVEO carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Emergent’s earnings estimates have increased from $4.03 to $6.61 for 2020 and from $5.07 to $8.42 for 2021 over the past 90 days. Shares of the company have increased 101.5% year to date.

AVEO’s loss per share estimates have narrowed from $1.68 to $1.25 for 2020 and from $1.71 to $1.22 for 2021 over the past 60 days. Shares of the company have increased 7% year to date.


Kindred Biosciences, Inc. Price

Kindred Biosciences, Inc. Price
Kindred Biosciences, Inc. Price

Kindred Biosciences, Inc. price | Kindred Biosciences, Inc. Quote

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AVEO Pharmaceuticals, Inc. (AVEO) : Free Stock Analysis Report
Emergent Biosolutions Inc. (EBS) : Free Stock Analysis Report
Kindred Biosciences, Inc. (KIN) : Free Stock Analysis Report
VAXART, INC. (VXRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research