CSL shares rose yesterday after its coronavirus vaccine plans formed up.
CSL confirmed the sealing of a deal with the federal government to produce the University of Queensland’s COVID-19 vaccine.
The next stage of the deal will see advanced trials that are planned to start in December.
The news saw CSL shares rose 2.4% to $2989.94. The shares touched a high in trading of $299.40, the highest they have been since August 19.
The company told the ASX it had signed off on the final agreement to produce 51 million doses of the University of Queensland (UQ) vaccine, known as V451 if it is successful.
CSL said the first participants in the phase 2b/3 trials of the product would be enrolled in December if progress went as expected.
The company has previously said it planned to produce the University of Queensland (UQ) vaccine and will also make does of the University/AstraZeneca vaccine if these products pass clinical trials.
The Oxford vaccine is in its third stage trial while the UQ vaccine is still in phase 1.
The production deal means CSL will oversee late-stage trials of the product and produce it at scale if successful.
CSL confirmed on Thursday the large scale phase 2b/3 trial was “almost ready” and would be a randomised, placebo-controlled trial across multiple countries and more than 100 research sites.
The first subject would be enrolled in December, with “the goal of completing recruitment by March 2021″, the company said.
Earlier this year CSL said the UQ vaccine could be rolled out midway through 2021 if the trials prove successful. The company said it was committed to ensuring the vaccine was safe and effective before rolling it out to market.
“Discussions have already commenced with the Therapeutic Goods Administration to ensure this goal is met,” the company said in a statement.
CSL also confirmed it has started talks with partner organisations to “assist with the production of further doses with the goal of providing further access to the vaccine” if it is successful.
The production agreement involves the federal government paying CSL for the “clinical and technical development” needed to prepare its sites for production.
“Given the considerable risk, cost, and uncertainty associated with the development of these novel vaccines, it is too early to calculate with any certainty the financial impact on the company,” CSL said in a statement.
