Vir Biotechnology announced promising results Wednesday for a pair of experimental cancer treatments. Vir stock catapulted by double digits.
The company's drugs are T-cell engagers. These antibodies redirect the immune system's T cells to attack specific targets on cancer cells. One is being used to attack a protein called HER2 on solid tumors. The other targets PSMA, a protein that shows up in prostate cancer.
Ten out of 20 patients who received the HER2-directed drug experienced tumor shrinkage.
In the second group, all 12 patients with metastatic castration-resistant prostate cancer had lower PSA levels after receiving Vir Biotechnology's drug. PSA, or prostate-specific antigen, is a protein in the blood that rises when a patient has prostate cancer.
Vir stock launched 58.2% to close at 12.48.
Vir's Big Foray Into Oncology
Ahead of the data release, Leerink Partners analyst Roanna Ruiz called this the "first potentially validating catalyst" for Vir's expansion into oncology. Vir is better known for its viral drugs. The company worked with GSK to develop a Covid treatment.
Vir licensed the cancer treatments from Sanofi.
Overall, half of the patients with tumors that express HER2 had tumor shrinkage. Of the six patients with colorectal cancer, two responded to the treatment.
In the other test, every patient experienced a decline in PSA, the protein associated with prostate cancer. And seven out of 12 patients — or 58% — had at least a 50% decrease in PSA.
Both drugs have proven relatively safe, Vir Biotechnology said in its news release. Patients who receive immune system-stoking drugs like T-cell engagers often have a systemic impact called cytokine release syndrome, or CRS. But there were no instances of CRS that limited dosage levels. And none of the patients experienced serious CRS.
The news sent Vir stock to its highest point since August. Shares bullishly retook their 200-day moving average, according to MarketSurge.
Follow Allison Gatlin on X/Twitter at @IBD_AGatlin.
