Adagio's COVID-19 Antibody Has Neutralizing Activity Comparable To Other Antibodies

Adagio Therapeutics Inc ADGI shares gain during the premarket session after recent findings showing that ADG20 has neutralization activity against the omicron variant.

• Adagio shares lost almost 80% after it announced a greater than 300-fold reduction in neutralizing activity of ADG20 against omicron. 
• Recently published in vitro studies examined the neutralization potencies of large panels of mAbs against the omicron variant.
• Findings across all three studies show that among mAbs in late-stage development or Emergency Use Authorization (EUA), ADG20 is one of only a few mAbs that demonstrated neutralizing activity against omicron. 
• Across two distinct, authentic neutralization assays against omicron, the data show that ADG20 had an IC50, a measurement of neutralization potency, of approximately 0.4 to 1.1 µg/mL, comparable with Xevudy (sotrovimab) and AstraZeneca Plc's AZN AZD7742.
• Sotrovimab is a COVID-19 monoclonal antibody therapy developed by GlaxoSmithKline plc GSK and Vir Biotechnology Inc VIR.
• Adagio is evaluating ADG20 in its two global Phase 2/3 trials to prevent and treat COVID-19. 
• Adagio is engaging with the FDA regarding potential protocol updates to its global Phase 2/3 trials, including an increased dose of ADG20. The Company has paused enrollment in the 300 mg dose arm. 
• Adagio is exploring the potential to engineer ADG20 to improve binding to the omicron variant for enhanced neutralization potency while retaining its neutralization against other variants.
• These efforts are underway, and the Company anticipates preliminary findings from its research in 1Q of 2022.
• Price Action: ADGI shares are up 18.0% at $6.88 during the premarket session on the last check Thursday.