Vir Biotechnology (NASDAQ:VIR) jumps 34% premarket on modest volume in reaction to its collaboration with GlaxoSmithKline (NYSE:GSK) to research and develop treatments for COVID-19.
The partnership will leverage Vir’s proprietary
monoclonal antibody platform with GSK’s know-how in functional genomics
while combining their respective competencies in CRISPR screening and
artificial intelligence (AI) to identify anti-coronavirus compounds that
target cellular host genes. They will also apply their combined
expertise to research coronavirus vaccines, including SARS-CoV-2.
In addition to gaining access to Vir’s technology,
GSK will invest $250M in Vir via the purchase of its common stock at
$37.73 per share, a 30% premium to Friday’s close of $29.00.
https://seekingalpha.com/news/3558545-vir-biotech-up-34-premarket-on-gsk-covidminus-19-deal
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.