Adagio Lays Out Development Plans For COVID-19-Focused ADG20 Program

Adagio Therapeutics Inc ADGI has outlined strategic initiatives for its ADG20 program and research efforts to address SARS-CoV-2 and other coronaviruses. 

• ADG20 is an investigational monoclonal antibody (mAb) being developed to prevent and treat COVID-19.
• Adagio plans to analyze clinical data from its global Phase 2/3 clinical trials for the prevention (EVADE study) and treatment (STAMP study) of COVID-19 to assess the preliminary safety and efficacy of ADG20 at the 300mg dose in each trial. 
• The analysis will be available in late March, and the company expects these data will inform the next steps for ADG20.
• The company will evaluate higher doses of ADG20 in the Phase 1 trial to supplement the 300mg dose data.
• The company plans to progress ongoing efforts to modify ADG20 to improve binding to the omicron variant to enhance its neutralization potency while retaining its broad neutralization shown in vitro against other variants.
• In December, the in vitro data showed a greater than 300-fold reduction in neutralizing activity of ADG20 against omicron. 
• On Friday, Adagio's CEO Tillman Gerngross announced his resignation.
• The board plans to appoint David Hering, the company's Chief Operating Officer, as Interim Chief Executive Officer. 
• Price Action: ADGI shares are down 2.32% at $6.27 during the market session on the last check Tuesday.