Innovation Pharmaceuticals Inc (IPIX)

[Phoenix300]

GlaxoSmithKline Plc and Vir Biotechnology Inc. said their Covid-19 antibody therapy showed a significant reduction of hospitalization and death for at-risk patients in an advanced-stage trial that progressed faster than expected.

The companies said Thursday that they will immediately seek emergency-use authorization in the U.S. after they finished a late-stage study early on the recommendation of an independent monitoring board. The treatment, VIR-7831, reduced the numbers of patients who were hospitalized or died by 85% compared to a placebo, the companies said.