Open Orphan (ORPH ) has announced that its subsidiary hVIVO has been awarded a new study with an existing Big Pharma client, to be a vaccination site for a Phase 2 field study of that client's Respiratory Syncytial Virus ("RSV") vaccine candidate.
This news comes only a day after Open Orphan announced hVIVO had been awarded a contract for the manufacture of a human challenge virus with a Big Pharma client, underlining Open Orphan and hVIVO's high degree of success thus far in the growing infectious and respiratory disease market.
The new study will recruit 60 volunteers to the Company's new facility at Plumbers Row, London to test the RSV vaccine. Unlike a human challenge study, these volunteers will be free to leave the facility after being administered the vaccine or a placebo. They will then be monitored for symptoms over the following months.
The study is expected to commence in Q3 2022 with the majority of revenue recognised in 2023.
View from Vox
This is Open Orphan's first study as a vaccination site, following the Company's facilities expansion at Plumbers Row in March. The expansion aimed to enable larger product offerings in addition to existing human challenge trial services. That strategy has now been validated with this new contract. The expanded services increase cross-selling opportunities for Open Orphan while reusing existing staff, facilities, and expertise, effectively increasing gross margin.
ORPH price is up 5.66% on the news today in early afternoon trading.
Follow News & Updates from Open Orphan: