By Dhirendra Tripathi
Investing.com – Shares of Vir Biotechnology (NASDAQ: VIR ) jumped 32% Thursday after the company said data showed its therapy, VIR-7831, had been found to be highly effective in the treatment of Covid-19 patients.
Vir developed the treatment jointly with GlaxoSmithKline (NYSE: GSK ). The stock bounce brings Vir to a market value of almost $6 billion.
The two companies are working together to develop existing and identify new anti-viral antibodies that could be used as therapeutic or preventive options for Covid-19.
Convinced of the treatment’s “profound efficacy” in reducing hospitalization and risk of death in early treatment of adults affected by the coronavirus, the Independent Data Monitoring Committee has asked the company to stop enrollment for the phase-3 trial.
The IDMC recommendation was based on an interim analysis of data from 583 patients enrolled in the trial, which demonstrated an 85% reduction in hospitalization or death in patients receiving the monotherapy compared to placebo, the primary endpoint of the trial.
VIR-7831 is an investigational compound, not approved by the U.S. Food and Drug Administration or any other regulatory authority. Its current development pipeline consists of product candidates targeting Covid-19, hepatitis B virus, influenza A and human immunodeficiency virus.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.