Vir Biotech craters, as VIR-2482 misses in prevention of seasonal flu A
Vir Biotechnology (Nasdaq: VIR) saw its shares slump almost 45% to $12.70, a three year low, on the news that its flu prevention therapy study had failed.
The US biotech firm announced that the Phase II PENINSULA (PrevEntioN of IllNesS DUe to InfLuenza A) trial evaluating VIR-2482 for the prevention of symptomatic influenza A illness did not meet primary or secondary efficacy endpoints.
In participants who received the highest dose of VIR-2482 (1,200 mg), a non-statistically significant reduction of around 16% in influenza A protocol-defined illness was observed. Participants who received the highest dose showed an approximately 57% reduction in symptomatic influenza A illness, when defined according to CDC influenza-like-illness criteria, which was one of two secondary endpoints. VIR-2482 was generally well tolerated and no safety signals were identified.
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