Why Vir Biotechnology Stock Surged Today
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
