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Stock Alert: Vir Biotechnology Closes Enrollment In COVID-19 Vaccine Trial

Shares of Vir Biotechnology Inc. (VIR) are losing nearly 30% on Wednesday morning after the company said it has stopped enrollment in COVID-19 vaccine trial.

VIR is currently trading at $41.21, down $16.53 or 28.63%, on the Nasdaq.

Vir Biotechnology and GlaxoSmithKline plc (GSK) provided an update on phase 3 trial of its potential COVID-19 vaccine VIR-7831.

The companies said that while VIR-7831 met initial pre-specified criteria to continue to the next phase of the trial and there were no reported safety signals, sensitivity analyses of the available data raised concerns about the magnitude of potential benefit.

The independent Data and Safety Monitoring Board has recommended that the VIR-7831 arm of the trial be closed to enrollment while the data mature.

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