hVIVO PLC shares were up 10% after it announced it had won a contract worth £6.3 million to test an antiviral candidate designed to tackle Human Rhinovirus (HRV), or common cold.
The trial, scheduled to generate revenue in the second half of FY24 and into FY25, will take place at hVIVO's new facility in Canary Wharf.
This development is particularly noteworthy as it showcases the increasing reliance on Human Challenge Trials (HCTs) by companies seeking robust evidence for regulatory approval and to refine future clinical trials.
Liberum, the corporate broker to hVIVO, maintained a 'buy' rating on the stock with a target price of 29p. The shares, up 124% in the last year, were changing hands for 26.21p.