Adagio Therapeutics (NASDAQ: ADGI) stock is getting beaten down again after a lousy day on Tuesday. Disappointing news regarding the clinical-stage biotechnology company's lead candidate, ADG20, pushed the stock 19.4% lower as of 1:14 p.m. ET on Wednesday.
Adagio Therapeutics' lead candidate is an experimental antibody treatment for COVID-19 that is currently in clinical trials for the treatment and prevention of COVID-19. On Nov. 29, the biotech stock rocketed higher after the company told investors that ADG20 could probably handle the omicron variant.
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Why Adagio Therapeutics Stock Is Falling Again Today