CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Brisk rally for Vaxxinity (VAXX) shares on first trading day

By Carreen Maloney

21:35, 11 November 2021

Vaxxinity
Vaxxinity shares rally on first day of trading - Photo: Shutterstock

Dallas, Texas-based biotech Vaxximity's initial public offering (IPO) of $13 per share – below the bottom of the expected price range – rose rapidly on its first day of trading Thursday, hitting a high of $22.77 before closing at $16.55.

Initially, the price range for the shares was expected to be $14 to $16.

Vaxxinity (VAXX) offered 6 million shares, 700,000 fewer than originally anticipated. The company raised $78m (£58.4m). In its prospectus, it stated the proceeds would be used to fund product development, and for general working capital, capital expenditures, and other general corporate purposes

XRP/USD

0.63 Price
-0.100% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

US100

16,001.20 Price
+0.470% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0

Oil - Crude

74.50 Price
-1.560% 1D Chg, %
Long position overnight fee -0.0136%
Short position overnight fee -0.0083%
Overnight fee time 22:00 (UTC)
Spread 0.040

BTC/USD

39,716.90 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Vaccines for chronic diseases

Vaxxinity’s research is focused on creating vaccines to treat chronic diseases. The company hopes its products, which are in various stages of development, could treat a variety of illnesses including Alzheimer’s disease, Parkinson’s disease, Dementia with Lewy bodies, multiple system atrophy, migraines and hypercholesterolemia. The company is also working on Covid-19 prevention.

The technology being developed by Vaxxinity uses synthetic peptides to “harness the immune system to convert the body into its own drug factory, stimulating the production of antibodies with a therapeutic or protective effect.”

Read more: Texas biotech company Vaxxinity announces IPO terms

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading