Shares of clinical-stage biotech company Vaxxinity (NASDAQ: VAXX) were up 28.2% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence. The stock closed at $2.02 a share last week and rose to as high as $2.63 on Thursday. The stock has a 52-week low of $1.24 and a 52-week high of $10.57.

The company has a relatively small market cap of $307.57 million, so it doesn't take much interest to make the stock soar -- or drop. It focuses on synthetic peptide vaccines to treat chronic diseases such as Alzheimer's, Parkinson's, hypercholesterolemia, migraines, and infectious diseases.

It didn't make any announcements this week, but a number of factors likely contributed to the stock's rise. Vaxxinity completed phase 3 trials last month on its COVID-19 vaccine, UB-612, and cases remain high in China. According to Vaxxinity, UB-612 met its primary and secondary endpoints in a head-to-head booster trial against the approved COVID-19 vaccines of Pfizer-BioNTech, AstraZeneca, and Sinopharm Group. The company said it plans to submit rolling submissions to regulatory agencies in the United Kingdom and in Australia in the first half of this year.

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Source Fool.com