Icosavax, Inc. (ICVX) Bundle
A Brief History of Icosavax, Inc. (ICVX)
Company Formation and Overview
Icosavax, Inc. was founded in 2019 and is based in Seattle, Washington. The company specializes in the development of vaccines utilizing its proprietary virus-like particle (VLP) technology for a broad range of infectious diseases.
Initial Funding Rounds
In April 2020, Icosavax completed a $25 million Series A financing round led by OrbiMed Advisors and Frazier Healthcare Partners. This funding was crucial for advancing its vaccine candidates into preclinical and clinical stages.
Public Offering
Icosavax went public on the NASDAQ under the ticker symbol ICVX on June 11, 2021, raising approximately $75 million in its initial public offering (IPO). The IPO was priced at $15 per share.
Vaccine Pipeline
The company's lead vaccine candidate, IVX-411, targets the respiratory syncytial virus (RSV). In their pipeline, IVX-411 entered Phase 1 clinical trials in early 2022.
| Vaccine Candidate | Target Virus | Phase of Development | Expected Milestone |
|---|---|---|---|
| IVX-411 | Respiratory Syncytial Virus (RSV) | Phase 1 | Completion of Phase 1 Trials - Q4 2022 |
| IVX-101 | Influenza | Preclinical | IND Application - 2023 |
Financial Performance
As of the end of Q2 2023, Icosavax reported total revenue of $2.3 million, primarily from government grants and collaborations. The company reported a net loss of $15.2 million for the same period.
Stock Performance
As of October 2023, Icosavax shares are trading at approximately $8.75 per share, showing a decline from its IPO price. The company’s market capitalization is approximately $200 million.
Strategic Collaborations
Icosavax has entered into strategic partnerships with several organizations, including a collaboration with the Bill & Melinda Gates Foundation aimed at accelerating the development of their vaccine candidates.
Regulatory Milestones
In July 2023, Icosavax received Fast Track designation from the FDA for its IVX-411 candidate for RSV, expediting the development process due to its potential to meet unmet medical needs.
Future Directions
Icosavax aims to leverage its VLP technology platform to expand its pipeline with additional vaccine candidates. The company plans to initiate clinical studies for its influenza vaccine candidate in late 2023.
A Who Owns Icosavax, Inc. (ICVX)
Ownership Structure
The ownership structure of Icosavax, Inc. is characterized by a mix of institutional investors, individual shareholders, and company insiders. As of the latest filings, the following table outlines the significant shareholders and their respective ownership percentages:
| Shareholder | Ownership Percentage | Type of Ownership |
|---|---|---|
| BlackRock, Inc. | 12.3% | Institutional Investor |
| Vanguard Group, Inc. | 9.6% | Institutional Investor |
| State Street Corporation | 8.1% | Institutional Investor |
| Directors and Officers | 5.4% | Insider Ownership |
| Other Institutional Investors | 30.0% | Institutional Investor |
| Retail Investors | 34.6% | Public Ownership |
Recent Stock Performance
As of October 2023, Icosavax, Inc. (ICVX) has exhibited various performance metrics relevant to its market standing:
- Current Stock Price: $5.75
- Market Capitalization: $350 million
- 52-Week High: $7.25
- 52-Week Low: $3.50
- Year-to-Date Performance: +23%
Financial Overview
Icosavax, Inc. has reported the following financial figures for the most recent fiscal year:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $45 million |
| Net Income | ($12 million) |
| Total Assets | $200 million |
| Total Liabilities | $50 million |
| Cash and Cash Equivalents | $75 million |
Insider Ownership and Transactions
Insider ownership has shown significant activity, reflecting confidence in the company's prospects. Key details related to insider transactions include:
- Insider Purchase Activity (Last 12 Months): $1 million
- Insider Sale Activity (Last 12 Months): $500,000
- Average Insider Ownership Percentage: 5.4%
Institutional Holdings Changes
Quarterly changes in institutional holdings indicate a strong interest in Icosavax, Inc.
| Institution | Change in Holdings (%) | Date of Filing |
|---|---|---|
| BlackRock, Inc. | +2.3% | September 2023 |
| Vanguard Group, Inc. | -1.0% | September 2023 |
| State Street Corporation | +1.5% | September 2023 |
| Fidelity Investments | +4.0% | August 2023 |
Conclusion on Ownership Trends
Overall, the ownership of Icosavax, Inc. reflects a diverse base, with institutional investors holding a substantial stake, while insider ownership indicates management's commitment to the company's future. Financial metrics and stock performance suggest cautious optimism among investors.
Icosavax, Inc. (ICVX) Mission Statement
Corporate Mission
Icosavax, Inc. is dedicated to advancing the field of vaccine development with a focus on innovative approaches to prevent and treat infectious diseases. The company aims to harness its proprietary Virus-Like Particle (VLP) technology to create effective vaccines for a broad range of viral infections.
Vision for Global Health
Icosavax envisions a world where vaccines can effectively combat emerging infectious diseases. The company is committed to improving health outcomes through research and collaboration with global health organizations.
Strategic Objectives
- Innovation: Develop next-generation vaccines using advanced technologies.
- Access: Ensure that vaccines reach populations in need, especially in underserved areas.
- Collaboration: Partner with academic institutions, governmental organizations, and the private sector to enhance research and development.
Recent Financial Performance
As of the latest financial reporting, Icosavax, Inc. has shown significant financial metrics:
| Year | Revenue (in millions) | Net Income (in millions) | Total Assets (in millions) | Market Capitalization (in millions) |
|---|---|---|---|---|
| 2022 | $15.3 | -$8.7 | $100.2 | $180.5 |
| 2023 (Q2) | $7.4 | -$3.2 | $95.8 | $210.4 |
Research Focus Areas
Icosavax is engaged in several key research initiatives aimed at developing vaccines targeting:
- COVID-19 Variants
- Influenza
- HIV
Collaborations and Partnerships
The company has established strategic partnerships to enhance its mission:
- Partnership with the National Institutes of Health (NIH) for COVID-19 vaccine development.
- Collaboration with global health organizations to facilitate vaccine distribution.
Regulatory Milestones
Icosavax has achieved important regulatory milestones:
- IND Application: Submitted for COVID-19 vaccine candidate in early 2023.
- Fast Track Designation: Received for its influenza vaccine candidate.
Future Goals
The company aims to:
- Advance three vaccine candidates into clinical trials by 2024.
- Increase collaborations with international health organizations.
- Achieve profitability by 2025.
How Icosavax, Inc. (ICVX) Works
Overview of Icosavax, Inc.
Icosavax, Inc. is a clinical-stage biotechnology company focused on developing a new class of vaccines. The firm specializes in utilizing its proprietary icosahedral vaccine platform to create highly effective vaccines against multiple infectious diseases. Icosavax is primarily engaged in the development of its lead vaccine candidate, IVX-410, which targets respiratory syncytial virus (RSV).
Business Model
The business model of Icosavax centers around the research and development of vaccine candidates using its advanced icosahedral platform technology. This platform allows for the construction of virus-like particles that mimic natural viruses to elicit strong immune responses.
- Research and Development: The company allocates significant resources toward R&D, currently boasting an R&D expense of approximately $10 million for Q2 2023.
- Partnerships: Icosavax collaborates with various pharmaceutical organizations to leverage expertise and share development costs.
- Funding: In 2023, Icosavax raised $50 million in a Series C funding round to support its clinical trials and operational expenses.
Financial Performance
As of Q2 2023, Icosavax reported a cash position of $75 million, extending its runway into 2025. The company recorded total revenues of $1.2 million, primarily from grant funding and collaborative agreements.
| Financial Metrics | Q2 2023 Results | Year-End 2022 Results |
|---|---|---|
| Cash and Cash Equivalents | $75 million | $45 million |
| Total Revenues | $1.2 million | $2 million |
| R&D Expenses | $10 million | $15 million |
| Net Loss | -$8 million | -$13 million |
Key Projects
Icosavax is currently focused on several key projects:
- IVX-410: The company is conducting Phase 1 clinical trials for this RSV vaccine.
- IVX-411: This vaccine candidate is in preclinical development for the prevention of influenza.
- IVX-420: Targeting COVID-19 variants, this vaccine is in exploratory stages.
Market Potential
The market for vaccines against infectious diseases is substantial, with an estimated global vaccine market of $45 billion in 2023. The RSV vaccine market alone is projected to reach $2 billion by 2026.
Recent Developments
In August 2023, Icosavax announced positive interim results from its Phase 1 trial of IVX-410, showing a favorable safety profile and robust immune response in participants.
Collaborations and Partnerships
Icosavax has established collaborations with organizations such as:
- Moderna: Focusing on mRNA technology integration.
- National Institutes of Health (NIH): Joint research initiatives for infectious disease vaccines.
- Various universities for academic partnerships in vaccine research.
How Icosavax, Inc. (ICVX) Makes Money
Revenue Streams
Icosavax, Inc. generates revenue primarily through various channels associated with its vaccine development programs. The main areas include:
- Partnerships and collaborations with pharmaceutical companies
- Grants and funding from governmental and non-governmental organizations
- Potential licensing agreements for vaccine candidates
Partnerships and Collaborations
As of 2023, Icosavax has entered into several significant partnerships that contribute to its revenue. An example includes a collaboration with a leading pharmaceutical company for the development of its proprietary virus-like particle (VLP) vaccine platform.
The financial details of this partnership include:
| Partner Company | Collaboration Type | Financial Terms (Milestones) | Potential Total Value (USD) |
|---|---|---|---|
| Company A | Co-development | $20 million upfront; $50 million in milestones | $200 million |
| Company B | Licensing | $10 million upfront; $30 million in milestones | $150 million |
Government Grants and Funding
Another substantial revenue source for Icosavax includes government grants. The company has successfully secured funding from various agencies aimed at advancing vaccine research.
As of 2023, Icosavax reported receiving:
| Funding Organization | Grant Amount (USD) | Purpose | Year Awarded |
|---|---|---|---|
| National Institutes of Health (NIH) | $4.5 million | Vaccine development for RSV | 2022 |
| BARDA | $3 million | COVID-19 vaccine research | 2023 |
Future Licensing Agreements
Icosavax is actively pursuing licensing agreements for its vaccine candidates, particularly its candidates targeting respiratory viruses. The potential revenue from these agreements could significantly impact its financial standing.
Details of anticipated licensing agreements are as follows:
| Vaccine Candidate | Expected Licensing Amount (USD) | Royalty Rate (%) | Projected Market Value (USD) |
|---|---|---|---|
| ICVX-001 (RSV) | $15 million | 10% | $1 billion |
| ICVX-002 (COVID-19) | $25 million | 12% | $5 billion |
Research and Development Expenditure
Icosavax invests heavily in research and development (R&D) to maintain its competitive edge. As of 2023, the R&D expenditure was reported at:
| Year | R&D Expenditure (USD million) | Percentage of Revenue (%) | Focus Areas |
|---|---|---|---|
| 2021 | 12.3 | 70% | Vaccine candidates for RSV and COVID-19 |
| 2022 | 15.7 | 65% | Vaccine candidates for Influenza |
| 2023 | 20.0 | 60% | Broad-spectrum respiratory vaccines |
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