Vir’s stock rises as COVID-19 drug moves to late-study clinical trial

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Shares of Vir Biotechnology Inc. gained 5.3% in trading on Tuesday after the company said it is expanding the Phase 3 clinical trial for an experimental COVID-19 treatment. The treatment, a monoclonal antibody called VIR-7831, is aimed at patients with COVID-19 who are at high risk of hospitalization. The randomized, placebo-controlled late-stage study will evaluate 1,300 non-hospitalized patients who have tested positive for COVID-19 and whether they need to be hospitalized or die within 29 days. Results are expected in January. GlaxoSmithKline is also involved in the development of the therapy, as part of a coronavirus-focused development agreement announced by Vir and GSK in April. Vir’s stock has soared 211.0% so far this year. The S&P 500 , in comparison, has gained 5.5%.
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