AbCellera Stock Is Moving Higher After Expanded Use Nod For Lilly-Partnered COVID-19 Antibody

The FDA has expanded the Emergency Use Authorization (EUA) for bamlanivimab 700 mg and etesevimab 1400 mg administered together to include post-exposure prophylaxis in certain individuals to prevent SARS-CoV-2 infection.
Bamlanivimab emerged from the collaboration between Eli Lilly And Co LLY and AbCellera Biologics Inc ABCL.
The neutralizing antibodies can now be used together to treat high-risk individuals above 12 years of age who are not fully vaccinated or are not expected to mount an adequate immune response and have been exposed to someone infected.
This authorization follows the national reopening of distribution earlier this month.
Related Content: After Regeneron, US Government Orders Additional COVID-19 Therapy From Eli Lilly.
The expanded authorization is based on data from BLAZE-2 in which bamlanivimab 4200 mg reduced the risk of contracting symptomatic COVID-19 by up to 80% in nursing home residents and up to 57% among residents and staff of long-term care facilities.
Read Next: AbCellera-Lilly Partnered Second COVID-19 Antibody Enters Human Trials.
Price Action: ABCL stock is up 19.3% at $23.63 during the premarket session on the last check Friday, while LLY stock closed 1.15% lower at $231.04 on Thursday.