Small-Cap Stock in News: Vical Inc. (VICL)
Shares of Vical Inc. (NASDAQ: VICL), a biotechnology company engaged in research and development of biopharmaceutical products based in DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases, are soaring in today’s trading.
At last check, the small-cap stock of VICL was trading 6.10% higher at $4, with volume up from daily average of 325,148 to 2.98 million. The stock touched an intra-day high of $4.24 in today’s trading. Year-to-date, the stock has fallen 9.75%.
VICL shares are gaining after the company today announced that it granted a worldwide, nonexclusive license to Bristol-Myers Squibb Company (NYSE: BMY) of its patented platform DNA immunization technology and its Vaxfectin® adjuvant for use in the production of antibodies.
As per the terms of the agreement, BMY will use VICL’s technology to generate antibodies with potential therapeutic uses in humans. Under the agreement, the company will also provide specific quantities of the Vaxfectin adjuvant to BMY from time to time. VICL did not disclose the financial terms of the agreement with BMY.
Commenting on the agreement, Vijay B. Samant, president and CEO of Vical, said that VICL is pleased to enter into the agreement with BMY. Samant noted that the agreement recognizes an important application of VICL’s DNA immunization technology. He further said that DNA immunization has been used widely in research setting as an efficient means of antibody production and the agreement represents a meaningful step toward monetizing a common use of VICL’s broadly applicable intellectual property asset.
The agreement also establishes a template for additional agreements with others working in the field, according to Samant. He added that VICL’s Vaxfectin adjuvant has shown significant improvement in the efficiency of the immunization process and the company is excited to establish the initial license agreement for Vaxfectin as well.
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