Why Vir Biotechnology Stock Is Sliding Today
Shares of Vir Biotechnology (NASDAQ: VIR) are under pressure after the company's third-quarter earnings report. Investors unimpressed with the biotech's progress selling a COVID-19 treatment pushed the stock 14.9% lower as of 2:18 p.m. on Friday.
Vir Biotechnology reported significant progress increasing access to sotrovimab, an intravenously administered antibody treatment the Food and Drug Administration authorized in May. In partnership with GlaxoSmithKline (NYSE: GSK), Vir Biotechnology has secured binding agreements for the sale of 420,000 doses of sotrovimab worldwide.
Image source: Getty Images.
Source Fool.com
