XNCR - Xencor and Vir to benefit from for FDA authorization for COVID-19 therapy: SVB Leerink

Xencor ([[XNCR]] -0.2%) is expected to generate “a useful cash windfall in the coming months,” noted SVB Leerink analyst Geoffrey Porges in reaction to the FDA’s emergency use authorization granted for a COVID-19 therapy developed by GlaxoSmithKline ([[GSK]] -1.1%) and Vir Biotechnology ([[VIR]] -4.5%).Named sotrovimab, the monoclonal antibody is now indicated for patients aged 12 years and older with mild-to-moderate COVID-19. It uses XmAb Fc technology, Xtend which was developed by Xencor.The company later licensed it to Vir. Despite adoption challenges faced by Regeneron and Lilly for their antibody therapies, the FDA authorization signals a validation of its technology and platform says the analyst on Vir.However, the authorization is likely to immaterial impact on GSK, Porges contends noting the late timing of the approval as vaccinations drive down the COVID-19 case numbers.The analyst also points to the profit-sharing with Vir amid established competition and healthcare providers’ lack of preference to use intravenous

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Xencor and Vir to benefit from for FDA authorization for COVID-19 therapy: SVB Leerink