Virax Biolabs (VRAX) Falls 18% on Lack of Leads

We recently published 10 Stocks Losing Big. Virax Biolabs Group Ltd. (NASDAQ:VRAX) is one of the worst performers of Tuesday.

Virax Biolabs snapped a two-day winning streak on Tuesday, shedding 18.18 percent to close at $0.6333 apiece as investors unloaded portfolios amid the lack of catalysts to sustain the rally.

On Tuesday, Virax Biolabs Group Ltd. (NASDAQ:VRAX) announced a partnership with Emory University’s Center for the Advancement of Diagnostics for a Just Society to jointly conduct clinical studies on ViraxImmune.

The studies will focus on immune profiling in individuals with post-viral syndromes, beginning with COVID.

Under the agreement, the Emory Laboratory for Innovative Assay Development will conduct patient recruitment, testing, and analysis to generate clinical data that is intended to support Virax Biolabs Group Ltd.’s (NASDAQ: VRAX) planned regulatory submissions and potential future commercial rollout.

The deal aligns with Virax Biolabs Group Ltd.’s (NASDAQ:VRAX) preparations for a pre-submission meeting with the US Food and Drug Administration early next month.

The meeting will seek the FDA’s feedback on the proposed intended use and regulatory pathway for ViraxImmune in COVID. The outcome will provide formal input on the pivotal US clinical trial design and inform the company’s regulatory and commercialization strategy.

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