Why AstraZeneca Shares Are Trading Higher Today?
- AstraZeneca plc's (NASDAQ: AZN) vaccine head highlighted the confidence that the company's new COVID-19 antibody treatment could protect immunocompromised patients against all known virus variants.
- Laboratory studies show that the antibody, dubbed AZD3152, neutralizes all known variants of COVID-19.
- AstraZeneca has support from regulators to make the treatment available by the end of this year, Reuters reported citing Iskra Reic's interview.
- Depending on additional encouraging data and regulatory approval, AstraZeneca plans to make the antibody available by the end of 2023.
- Also Read: AstraZeneca Forecasts Growth In 2023 Earnings, Revenue Despite Fall In COVID-19 Products, Plans To Deliver 15 New Medicines This Decade.
- In January, the FDA withdrew its emergency use authorization for AstraZeneca's original COVID-19 antibody cocktail Evusheld.
- Data showed Evusheld was not active against certain SARS-CoV-2 variants that accounted for over 90% of the infections in the U.S., rendering it obsolete.
- AstraZeneca's AZD3152, its new COVID-19 antibody, was acquired through a $157 million deal in May last year from British biotech start-up RQ Biotechnology Ltd.
- In January, AZD3152 entered clinical trials. The start of AstraZeneca's SUPERNOVA Phase I/III trial will investigate AZD5156 (a combination of AZD3152 and cilgavimab) in pre-exposure prevention of COVID-19.
- Price Action: AZN shares are up 1.38% at $74.65 on the last check Tuesday.
- Photo by Paul McManus from Pixaba
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