AbCellera Biologics $ABCL Stock up 10% In After-hours On FDA Approval

  • Post category:Biotechnology
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ABCL stock rose 10% in after-hours trading on December 3, 2021, after the company reported expanded approval from the FDA for its COVID-19 treatment.

AbCellera-Discovered Bamlanivimab Together with Etesevimab Authorized as the First and Only Antibody Therapy for Emergency Use in COVID-19 Patients Under the Age of 12

Expanded EUA includes both treatment of patients with COVID-19 and post-exposure prophylaxis (PEP) in pediatric and infant patients

VANCOUVER, British Columbia–(BUSINESS WIRE)– AbCellera (Nasdaq: ABCL) today announced the U.S. Food and Drug Administration (FDA) has expanded the Emergency Use Authorization (EUA) for bamlanivimab and etesevimab administered together to include pediatric patients under the age of 12, including neonates (infants <1 year old). The EUA allows for bamlanivimab and etesevimab administered together in the treatment of mild to moderate COVID-19 as well as post-exposure prophylaxis in certain patients.

The expanded EUA is based on data from the BLAZE-1 Phase 2/3 clinical trial studying bamlanivimab and etesevimab administered together for the treatment of pediatric and infant patients with mild to moderate COVID-19 and who are at high risk for severe disease progression. The median time to complete symptom resolution as recorded in a trial specific daily symptom diary was 7 days for subjects treated with bamlanivimab 700 mg and etesevimab 1,400 mg and 5 days for subjects treated with weight-based dosing of bamlanivimab and etesevimab. No subject died or required hospitalization due to COVID-19.

Pseudovirus and authentic virus studies conducted by AbCellera’s partner, Eli Lilly and Company (Lilly), demonstrate that bamlanivimab and etesevimab together retain neutralization activity against the Delta variant, which is currently the predominant variant of concern within the U.S.

Stifel sees ‘zero change’ to Adagio, AbCellera theses due to Pfizer data

On November 5, 2021, Stifel analyst Stephen Willey noted Pfizer’s (PFE) announcement of “encouraging” top-line results from an interim analysis of the EPIC-HR trial evaluating its oral antiviral Paxlovid in non-hospitalized, adult COVID-19 patients at high-risk, but tells investors that he sees “zero change” his theses on Buy-rated Adagio Therapeutics (ADGI) and AbCellera (ABCL) as a result of today’s news. He believes the value proposition associated with Adagio’s ADG20 remains intact and thinks the ADG20 product profile will prove most attractive for utilization in the pre-exposure prophylaxis and vaccine supplementation settings, Willey said. Meanwhile, he said that COVID-19 is “not included in any part” of his investment thesis on AbCellera shares. Willey has a Buy rating and $55 price target on AbCellera and a Buy rating and $60 price target on Adagio shares.

ABCL stock technical analysis

Abcl Stock

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there. Although the technical rating is bad, ABCL does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 14.8, a stop order could be placed below this zone. Click here to sign up for email alerts on when ABCL stock is a good entry.

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