Vir Biotechnology (VIR) Posts 80.98% Year-To-Date Growth

Vir Biotechnology, Inc. (NASDAQ:VIR) is one of the 10 Best Small-Cap Biotech Stocks According to Hedge Funds. The stock’s price grew 91.62% from a year ago, while it registered an 80.98% increase year-to-date. On April 16, Vir Biotechnology announced the closing of its global collaboration and licensing agreement with Astellas following the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The collaboration aims to accelerate the development of VIR-5500, a prostate-specific membrane antigen (PSMA)-targeted, PRO-XTEN dual-masked T-cell engager (TCE) for the treatment of metastatic prostate cancer.

Why Aardvark Therapeutics (AARD) Paused Late-Stage ARD-101 Trials After Cardiac Findings

Upon closing of the partnership, Vir Biotechnology said it received a $240 million upfront payment and a $75 million equity investment at a price of $10.36 per share. The company will also receive a near-term $20 million milestone payment, will split U.S. profit/loss equally with Astellas (50/50), and is eligible to receive up to an additional $1.37 billion in development, regulatory, and sales milestones, along with tiered, double-digit royalties on ex-U.S. net sales. Under the terms of Vir Biotechnology’s licensing agreement with Sanofi, a portion of certain collaboration proceeds will be shared with the latter.

Vir Biotechnology, Inc.(NASDAQ:VIR) is a clinical-stage biopharmaceutical company focused on powering the immune system to transform lives by discovering and developing medicines for serious infectious diseases and cancer. Its clinical stage portfolio includes programs for chronic hepatitis delta and multiple PRO-XTEN dual-masked T-cell engagers across validated targets in solid tumor indications.

While we acknowledge the risk and potential of VIR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VIR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Data Center Stocks to Buy for the Long Term and 8 Must-Buy Small Cap Stocks to Buy.

Disclosure: None. Follow Insider Monkey on Google News.