AbbVie (ABBV - Free Report) announced that it has entered into a collaboration to develop a novel antibody therapeutic to prevent and treat COVID-19. The company has collaborated with privately-held Harbour BioMed, Utrecht University and Erasmus Medical Center for developing a fully human, neutralizing antibody for treating COVID-19 caused by the SARS-CoV-2 virus.
The antibody, named 47D11, was discovered by Harbour BioMed, Utrecht University and Erasmus Medical Center. AbbVie will support these entities through preclinical activities. AbbVie is also undertaking preparations for development of the antibody through later stage pre-clinical and clinical stages. The antibody targets the conserved domain of the spike protein of SARS-CoV-2.
Per the agreement, AbbVie will receive an option to exclusively license the antibody for clinical development and commercialization worldwide from the discovering parties.
Data from cell culture studies of 47D11 published online on May 4 in Nature Communications demonstrated that it blocked infection by the SARS-CoV-2 and a second coronavirus, SARS-CoV.
Meanwhile, many other large and small pharma/biotech companies are actively pursuing the development of a vaccine or treatment for COVID-19. Among the large players, J&J (JNJ - Free Report) and Sanofi (SNY - Free Report) are planning to develop a vaccine. Gilead’s (GILD - Free Report) antiviral candidate, remdesivir, is in late-stage development. Lilly also began a phase I study to evaluate an antibody candidate, LY-CoV555, as a treatment for COVID-19., last week.
AbbVie’s shares have increased 5.9% so far this year against the industry’s decline of 1.4%.
In a separate press release, the company announced new data from the phase III study — SELECT-CHOICE — comparing the efficacy of JAK inhibitor drug, Rinvoq, with Bristol-Myers’ inflammatory drug, Orencia, as a treatment for moderate-to-severe active rheumatoid arthritis. Data from the study showed that Rinvoq is superior than Orencia.
Zacks Rank
AbbVie currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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AbbVie (ABBV - Free Report) announced that it has entered into a collaboration to develop a novel antibody therapeutic to prevent and treat COVID-19. The company has collaborated with privately-held Harbour BioMed, Utrecht University and Erasmus Medical Center for developing a fully human, neutralizing antibody for treating COVID-19 caused by the SARS-CoV-2 virus.
The antibody, named 47D11, was discovered by Harbour BioMed, Utrecht University and Erasmus Medical Center. AbbVie will support these entities through preclinical activities. AbbVie is also undertaking preparations for development of the antibody through later stage pre-clinical and clinical stages. The antibody targets the conserved domain of the spike protein of SARS-CoV-2.
Per the agreement, AbbVie will receive an option to exclusively license the antibody for clinical development and commercialization worldwide from the discovering parties.
Data from cell culture studies of 47D11 published online on May 4 in Nature Communications demonstrated that it blocked infection by the SARS-CoV-2 and a second coronavirus, SARS-CoV.
Meanwhile, many other large and small pharma/biotech companies are actively pursuing the development of a vaccine or treatment for COVID-19. Among the large players, J&J (JNJ - Free Report) and Sanofi (SNY - Free Report) are planning to develop a vaccine. Gilead’s (GILD - Free Report) antiviral candidate, remdesivir, is in late-stage development. Lilly also began a phase I study to evaluate an antibody candidate, LY-CoV555, as a treatment for COVID-19., last week.
AbbVie’s shares have increased 5.9% so far this year against the industry’s decline of 1.4%.
In a separate press release, the company announced new data from the phase III study — SELECT-CHOICE — comparing the efficacy of JAK inhibitor drug, Rinvoq, with Bristol-Myers’ inflammatory drug, Orencia, as a treatment for moderate-to-severe active rheumatoid arthritis. Data from the study showed that Rinvoq is superior than Orencia.
Zacks Rank
AbbVie currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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