IPO Recap | Vaccine biotech Vaxxinity surged 27% in its public debut

On the last trading day, the NASDAQ Composite index rose0.52%, while the S&P 500 index climbed0.06%, and the Dow Jones Industrial Average dropped0.44%.

On Thursday, there was no traditional IPO filed and seven new stocks officially listed for trading.Biotech companyVaxxinity rose27.31% in first day of trading, valued at $2.08 billion.

Vaxxinity, founded in 2014,is aPhase 2 biotech company developing vaccine therapies for chronic diseases using synthetic peptides.

The company states synthetic peptide vaccine platform (“Vaxxine Platform”) has the potential to enable a new class of therapeutics that will improve the quality and convenience of care, reduce costs and increase access to treatments for a wide range of indications.

Its Vaxxine Platform is designed 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.

Its current pipeline consists of five chronic disease product candidates from early to late-stage development across multiple therapeutic areas including Alzheimer’s Disease (“AD”), Parkinson’s Disease (“PD”), migraine and hypercholesterolemia.

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The company is building the next geneation platform for digital and mobile-first commerce.

The platform comprises three core elements: a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Our point-of-sale solution allows consumers to pay for purchases in fixed amounts without deferred interest, hidden fees, or penalties.

It went public in January 12th, 2021 and rose 98.45% in its market debut. As if November 11th, it has a market cap of $42.16 billion, with a listed-to-date return of 209.86%.