Why Are Vir Biotech Shares Gaining Today?

Vir Biotechnology Inc VIR announced new preclinical data, published to the preprint server bioRxiv, demonstrating the impact of the significant antigenic shift of the new COVID-19 omicron variant (B.1.1.529). 

• A significant reduction in plasma neutralizing activity was observed against omicron in sera from vaccinated and convalescent individuals. 
• Researchers also tested the in vitro neutralizing activity of 44 monoclonal antibodies (mAbs) (eight of which are currently authorized or approved). 
• Data demonstrate that sotrovimab and five other preclinical mAbs, developed by Vir in conjunction with GlaxoSmithKline plc GSK, retained their in vitro neutralizing activity against omicron.
• Related Link: Preclinical Data Shows GSK-Vir COVID-19 Drug Works Against All Omicron Mutations.
• Price Action: VIR stock is trading higher by 14.7% at $52.78, GSK shares are up 0.29% at $42.91 during the market session on the last check Wednesday.