(Adagio) Shares of Adagio Therapeutics rose more than 58% on Wednesday after announcing that its monoclonal antibody’s primary endpoints were statistically significant.
The company said that in its Phase 2/3 clinical trials, the investigational drug adintrevimab, showed success in both pre-and post-exposure prophylaxis for Covid-19.
The biotech company said that the risk of symptomatic Covid-19 was cut by 71% compared to the placebo in the pre-exposure treatment. The risk was similarly 75% lower in post-exposure treatment compared to the placebo.
The company said that the risk of hospitalization or death in individuals with mild to moderate Covid-19 was minimized by 66% compared to the placebo in the primary efficacy analysis. The risk was 77% lower in treated individuals within three days of disease symptoms.
ADGI: NASDAQ is up +58.12%.
