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Why Vir Biotechnology Stock Vaulted Higher Today

TheMotleyFool

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Why Vir Biotechnology Stock Vaulted Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Vir Biotechnology (NASDAQ: VIR) were vaulting 12.8% higher as of 3:07 p.m. EST on Tuesday. The big jump came after the company announced news about separate collaborations with Gilead Sciences (NASDAQ: GILD) and GlaxoSmithKline (NYSE: GSK).

Partnerships with big drugmakers often serve as positive catalysts for small biotech stocks. It's not surprising that Vir's updates about two different collaborations especially excited investors.

Image source: Getty Images.

Source Fool.com

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