Canopy Growth Corporation shares rise 5.37% premarket after Invivyd's FDA alignment on rapid pathway for COVID-19 vaccine alternative.

Canopy Growth Corporation rose 5.37% in premarket trading. The company's stock price increase may be attributed to the news that Invivyd, Inc. has aligned with the U.S. FDA on a rapid pathway to full approval for its vaccine alternative monoclonal antibody candidate VYD2311. This candidate is designed to protect American adults and adolescents from COVID-19, with a planned head-to-head safety evaluation with a COVID-19 vaccine pending regulatory alignment.