| Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine |
| Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=55315"><span class="small">David Gelles and Jesse Drucker, The New York Times</span></a> |
| Sunday, 26 July 2020 08:08 |
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Excerpt: "On June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19."
Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine26 July 20
Vaxart’s shares soared. Company insiders, who weeks earlier had received stock options worth a few million dollars, saw the value of those awards increase sixfold. And a hedge fund that partly controlled the company walked away with more than $200 million in instant profits. The race is on to develop a coronavirus vaccine, and some companies and investors are betting that the winners stand to earn vast profits from selling hundreds of millions — or even billions — of doses to a desperate public. |
| Last Updated on Sunday, 26 July 2020 10:02 |
n June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19.