Europe Kickstarts Reviewing AstraZeneca Application For Its COVID Antibody

European Medicines Agency has started reviewing AstraZeneca Plc's AZN application for antibody-based COVID-19 therapy but gave no timeline for a conclusion.
Infections from COVID-19 are still rising in parts of the world, including Europe. On Tuesday, China posted a steep jump in daily COVID-19 infections, with new cases more than doubling from a day earlier to hit a two-year high.
Also See: AstraZeneca, GSK's COVID-19 Therapies Lose Efficacy Against Omicron's Subvariants.
AstraZeneca's antibody cocktail, Evusheld, has been authorized in the U.S. to prevent COVID-19 infections in individuals with weak immune systems or a history of severe side effects from coronavirus vaccines.
The decision by the human medicines committee of the European Medicines Agency comes after it began reviewing data on the drug in October.
Price Action: AZN shares are up 1.08% at $62.03 during the premarket session on the last check Wednesday.

Overview Rating:

Speculative

0100