Vir Biotechnology Stock Soars on Promising Trial Data

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Vir Biotechnology Stock Soars on Promising Trial Data

Investing.com -- Vir Biotechnology, Inc. (NASDAQ:VIR) shares rose by 29% following the announcement of encouraging safety and efficacy data from ongoing dose escalation trials for VIR-5818 in solid tumors and VIR-5500 in metastatic castration-resistant prostate cancer (mCRPC).

The San Francisco-based biotechnology company presented initial Phase 1 data indicating that the candidates VIR-5818 and VIR-5500 demonstrated promising preliminary safety and efficacy profiles. The trials have not yet reached the maximum tolerated dose, suggesting a favorable safety margin, and no dose-limiting cytokine release syndrome has been observed. Early clinical response signals were observed in heavily pre-treated patients; VIR-5818 showed tumor shrinkage in 50% of participants with various HER2-expressing cancers at doses of ≥400 µg/kg. Furthermore, confirmed partial responses were observed in 33% of participants with HER2-positive colorectal cancer.

VIR-5500 also showed positive signs; after a starting dose of ≥120 µg/kg, all participants experienced declines in prostate-specific antigen, with 58% achieving PSA50 response at this dose level.

The company's CEO, Marianne De Backer, expressed optimism about the potential of these treatments to provide effective and well-tolerated options for cancer patients, highlighting the innovative PRO-XTEN™ masking technology that allows selective activation of T-cell binders in the tumor microenvironment, thereby minimizing damage to healthy tissues.

Potentially the first of its kind HER2 immunotherapy, VIR-5818, is being evaluated in combination with pembrolizumab for various HER2-expressing cancers, including breast and colorectal cancer. VIR-5500 targets PSMA in mCRPC and addresses the need for treatments that could extend survival and improve the quality of life in prostate cancer, the second most commonly diagnosed cancer in men.

The promising data from these early-stage trials has been clearly favorably received by investors, as evidenced by a significant increase in Vir Biotechnology's stock price. The company plans to continue dose escalation in these trials and is evaluating less frequent dosing regimens based on the half-life of T-cell binders.

Vir Biotechnology will discuss these findings in an investor conference call on January 8, 2025; more details can be found on the company’s investor relations website.