British drugmaker GlaxoSmithKline (GSK) and Vir Biotechnology Inc (VIR) on Monday announced a partnership to develop potential antibody treatments for COVID-19, the disease caused by the coronavirus.As part of the collaboration agreement GSK will make an investment in Vir of $250 million, priced at $37.73, representing a 10% premium to the closing share price on March 27, 2020, according to the announcement. Vir’s shares soared as much as 34% rising to around $39 in early U.S. trading following the news of GSK’s investment.Wall Street analysts take a cautious stance on Vir’s stock. The Hold analyst consensus rating is based on …read more
Source:: Yahoo Finance
