Adagio Therapeutics is a biotechnology company founded in the United States specializing in researching and commercializing antibody-based infectious diseases treatments. Today, the price is marvelously soaring to $7.11 by 21%, while the previous close was $5.83. However, in December 2021, the company experienced a strong reduction in the stock price from $34.25 to $5.62 by losing 83%. Today, the company’s stock is in the spotlight after a major announcement about the monoclonal antibody ADG20 has neutralizing activity on Omicron. In this situation, it may be a good move for investors to consider taking a closer look at the announcement.
In this case, Adagio Therapeutics published three independent publications indicating that its leading monoclonal antibody (mAb) ADG20 has neutralizing activity on the Omicron of SARS-CoV-2 and outlined measures to deal with current future SARS-CoV-2 variants of concern. ADG20 is developed to treat COVID-19 and the prevention of phase 2/3 clinical trials and against Omicron. Plus, ADGI is now in discussions with the FDA to revise the study’s protocol, which includes dose escalation for its potential against the Omicron variety.