GlaxoSmithKline (GSK) and For Biotechnology (VIR) said on Wednesday that their antibody products reduce the severity of Covid-19 in high-risk patients. For-stock gave catapultation Thursday.
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The antibody treatment reduced the risk of hospitalization or death by 85% in patients diagnosed with mild to moderate Covid-19 and at risk of exacerbation. The data was so strong that an independent data monitoring committee recommended that the companies stop the final phase earlier.
GSK and Vir are now saying that they will seek emergency permission in the USA and other countries.
In the stock market pre-trade, For-share rose 45.9% near 68.30. But the GSK share fell 0.7% near 35.40.
More to follow.
Follow Allison Gatlin on Twitter @IBD_AGatlin.
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