What's Going On With Adagio Therapeutics Stock Today?

Adagio Therapeutics Inc ADGI is soaring on abnormally-high volume Thursday as traders discuss the stock on various social media platforms.

Adagio Therapeutics' average session volume is about 29 million, according to data from Benzinga Pro. Thursday's trading volume has already exceeded 123 million at publication time.

The stock was obliterated earlier in the week after the company announced that its antibody won't work against the COVID-19 omicron variant.

"Due to the highly conserved and immunorecessive nature of the epitope recognized by ADG20, we anticipated that ADG20 would retain neutralizing activity against Omicron, consistent with activity observed in in vitro models with all other known variants of concern," said Tillman Gerngross, CEO of Adagio Therepeutics.

"While the individual mutations present in the Omicron receptor binding domain were not associated with escape from ADG20 in the context of an original strain of the virus, new data show that the combination of mutations present in the Omicron spike protein led to a reduction in ADG20 neutralization that was not suggested by prior data."

Adagio Therapeutics is a clinical-stage biopharmaceutical company. It's the top trending stock on Stocktwits at publication time.

ADGI Price Action: Adagio Therapeutics was up 111.20% at $13.41 at time of publication.