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Why Vir Biotechnology Stock Surged Today

TheMotleyFool

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Why Vir Biotechnology Stock Surged TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of Vir Biotechnology (NASDAQ: VIR) jumped 12% on Wednesday after the company shared promising data for its COVID-19 antibody treatment.

Vir said that sotrovimab, the investigational monoclonal antibody treatment it developed with healthcare giant GlaxoSmithKline (NYSE: GSK), retained its effectiveness against the worrisome omicron variant in a preclinical study.

The news comes at a time when the ability of existing COVID-19 vaccines to ward off infection has waned as omicron has spread rapidly across the world.

Source Fool.com

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