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COVAXX, a subsidiary of United Biomedical, Inc. (UBI), announced on Monday that its COVID-19 vaccine, UB-612, induced neutralizing antibodies in 100% of participants during the phase-1 clinical trial, as reported by Reuters.

“UB-612 was generally well-tolerated and had a reassuring safety profile,” the company further noted. “All subjects developed neutralizing antibodies after two doses of vaccine.”

Market reaction

Risk flows continue to dominate financial markets following that headline. As of writing, the S&P 500 Futures were up 0.38% on a daily basis at 3,895.