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Zosano Pharma Corporation (NASDAQ:ZSAN) Stock Suddenly Jumps 10%: What’s The Buzz?

Pete Matthews , , , ,

Zosano Pharma Corporation (NASDAQ:ZSAN) gained 10% on Wednesday after the clinical-stage biopharma announced a successful COVID-19 vaccine candidate formulation, gotten from a vaccine producer, leveraging its microneedle patch system.

Market Stats

On Wednesday, On Wednesday, ZSAN stock fell 1.50% to $0.9850 with more than 12.70 million shares, compared to its average volume of 7.56 million shares. The stOn Wednesday, ZSAN stock rose 10.19% to $0.6858 with more than 46.14 million shares, compared to its average volume of 1.38 million shares. The stock has moved within a range of $0.6617 – 0.8500 after opening trading at $0.8443.

Announces the Successful Formulation of a COVID-19 Vaccine Candidate

The company’s microneedle patch comprises an array of around 2000 drug-coated titanium microneedles that are stuck on an adhesive patch whose administration to the skin employs a reusable applicator.Zosano VP R&D Mahmoud Ameri said they are delighted to have successfully formulated the COVID-19 vaccine candidate into the microneedle patch system that offers more support to the prospects of the microneedle patch tech.

Ameri said they believe a COVID-19 vaccine using the patch tech will offer an alternative to conventional intramuscular injections if developed successfully and approved.

Most importantly, the formulated patches can be stable at room temperatures, and this makes distribution easier without the challenges of cold-chain storage. CEO Steve Lo said that the development is a massive milestone which includes data in influenza vaccine coating and formulation on transdermal patch is promising for applicability of Zosano tech. Investors should keep an eye on ZSAN.

Key Quote

“We are pleased to have successfully formulated a COVID-19 vaccine candidate onto our microneedle patch system, which provides additional support for the potential of our microneedle patch technology,” said Mahmoud Ameri, Ph.D., vice president of research and development at Zosano.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.