Why Vir Biotech’s Stock Price Is Skyrocketing: +32.1% Today!
Shares of Vir Biotechnology jumped by more than 32% today after the company announced promising research findings from its attempt to defeat COVID-19. Vir’s stock price has increased by 333% since the beginning of January 2020. Highly speculative, watch from the sideline!
Vir Biotechnology published groundbreaking results of its research project aiming at blocking the entry of the novel coronavirus into its target cells in the top scientific journal Nature. The publication describes the isolation of a neutralizing antibody from a patient who recovered from severe acute respiratory syndrome (SARS) in 2003. Vir Biotechnologies’ researchers now found that the same antibody can also block cellular entry SARS-CoV-2. Although this research findings are very promising, the way for a clinical application of this technology is still a long one.
Vir’s stock price closed today at $40.1, corresponding to a plus of 32.1%. Until today, shares of Vir Biotechnology have already gained 333% in 2020.
The full press release of Vir Biotechnology can be found here.