VIR Stock – Why Vir Biotechnology Stock Skyrocketed Today
Shares of Vir Biotechnology (NASDAQ: VIR) soared 74% on Tuesday after the immunology company released promising results from an early-stage study of its experimental antibody treatment for the hepatitis B virus (HBV).
Preliminary data from Vir Biotechnology’s phase 1 trial of its subcutaneously administered monoclonal antibody, VIR-3434, showed a marked reduction in HBV surface antigen levels in patients with chronic HBV infection.
Vir Biotechnology’s stock surged on Tuesday. Image source: Getty Images.
Better still, Vir Biotechnology engineered VIR-3434 to include a vaccinal mutation that could potentially allow it to function as a T cell vaccine against HBV.
“The need for a functional cure for the nearly 300 million people living with chronic HBV is paramount,” Dr. Kosh Agarwal, the lead study investigator, said in a press release. “Lowering HBsAg [the HBV virus surface antigen] may help unlock a patient’s immune system, allowing it to provide the immune control necessary to achieve a functional cure.”
In addition to its HBV treatment, Vir Biotechnology also designed its experimental COVID-19 antibody therapy, VIR-7832, to include the XX2 vaccinal mutation technology, to which it has exclusive rights. The company plans to begin a phase 1b/2a trial of VIR-7832 in the coming weeks.
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Joe Tenebruso has no position in any of the stocks mentioned. The Fintech Zoom has no position in any of the stocks mentioned. The Fintech Zoom has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.