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Feb. 17, 2021, 8:10 a.m. EST

Vir, GSK ink new R&D deal

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By Jaimy Lee

Shares of Vir Biotechnology Inc. /zigman2/quotes/214486077/composite VIR -3.77% were up 12.8% in premarket trading on Wednesday after the company said it would expand its research agreement with GlaxoSmithKline /zigman2/quotes/209463850/composite GSK +0.52% to include the flu and other respiratory diseases. As part of the deal, GSK will pay Vir $225 million upfront and will make an equity investment of $120 million in the biotech; it also has the option to develop one drug for $300 million, with the possibility of an additional $200 million in milestone payments. The companies had initially engaged in a deal in 2020 that is focused on studying treatments for coronaviruses, including SARS-CoV-2. One experimental COVID-19 treatment that the companies are already developing is VIR-7831, which is being tested in Phase 3 studies as a monotherapy and in a mid-stage trial as a combination therapy. Vir's stock has soared 287.7% over the past 12 months, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX +0.77% is up 16.%.

/zigman2/quotes/214486077/composite
US : U.S.: Nasdaq
$ 43.13
-1.69 -3.77%
Volume: 504,815
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.52 billion
Rev. per Employee
$233,541
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/zigman2/quotes/209463850/composite
US : U.S.: NYSE
$ 36.65
+0.19 +0.52%
Volume: 3.80M
April 9, 2021 4:00p
P/E Ratio
12.60
Dividend Yield
5.46%
Market Cap
$90.49 billion
Rev. per Employee
$464,855
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/zigman2/quotes/210599714/realtime
US : S&P US
4,128.80
+31.63 +0.77%
Volume: 1.88B
April 9, 2021 5:15p
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