An obscure biotech stock skyrockets 38% after saying it’s testing a coronavirus antibody (VIR)
|01/27/2020||Posted by BusinessMediaguide.Com under General World News||
- Shares of Vir Biotechnology skyrocketed as much as 38% Monday as China’s coronavirus spread.
- The gains are a continuation from a rally that started Thursday, when the company announced it is testing “whether its previously identified anti-coronavirus monoclonal antibodies (mAbs) bind and neutralize 2019-nCoV,” the Wuhan virus.
- The company is also planning to utilize “whole genome CRISPR-based screening capabilities” to help identify the host receptor of the coronavirus infection.
- “We don’t know yet if these efforts will be successful, but we are working aggressively to find out,” said George Scangos, Ph.D., CEO of Vir in a statement.
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