Pursuit of coronavirus treatment has shares of Vir Biotechnology soaring

Shares of Vir Biotechnology are soaring amid reports that the coronavirus continues to spread. The company last week said it is "working to rapidly determine whether its previously identified anti-coronavirus monoclonal antibodies bind and neutralize 2019-nCoV, also referred to as 'Wuhan coronavirus.'" Skip Virgin, Chief Scientific Officer of Vir, added, "We have a library of multiple fully-human mAbs that bind and neutralize coronaviruses such as SARS and MERS. These mAbs were discovered using our antibody platform that identifies mAbs from survivors of an infection. Some of these mAbs are able to neutralize zoonotic coronaviruses, and we believe may have the potential to treat and prevent Wuhan coronavirus. We are also exploring the isolation of new mAbs specific for this virus." In addition to Vir's mAb efforts, its scientists are planning to apply whole genome CRISPR-based screening capabilities to identify the host receptor that allows Wuhan coronavirus infection. "This may allow additional approaches to address this rapidly emerging public health concern," the company said in last week's statement. George Scangos, CEO of Vir cautioned, "We don't know yet if these efforts will be successful, but we are working aggressively to find out." Shares of Vir Biotechnology are up 26%, or $5.20, to $25.39 in afternoon trading.