Stock Alert: Vir Biotechnology Shares Rise 7%

(RTTNews) - Shares of Vir Biotechnology Inc. (VIR) are rising over 7% Tuesday morning, after the company and GlaxoSmithKline plc (GSK) announced the global expansion to Phase 3 of the COMET-ICE (COVID-19 Monoclonal antibody Efficacy Trial - Intent to Care Early) study evaluating VIR-7831 for the early treatment of COVID-19 in patients who are at high risk of hospitalization.

VIR-7831, also known as GSK4182136, is a fully human anti-SARS-CoV-2 monoclonal antibody that was selected based on its potential to neutralize the virus, kill infected cells, provide a high barrier to resistance, and achieve high concentrations in the lungs.

Following a positive assessment of unblinded safety data from the lead-in portion of the trial by an Independent Data Monitoring Committee on September 30, 2020, the company said that the COMET-ICE registrational study will now expand globally to additional sites in North America, South America and Europe.

VIR is currently trading at $41.92, up $2.81 or 7.18% in the Tuesday's regular trading session.