Vir Biotechnology, Inc. (VIR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Vir Biotechnology, Inc. (“Vir” or the “Company”) (NASDAQ: VIR). Investors who purchased Vir shares are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Vir and certain of its officers and/or directors have violated federal securities laws.
On March 25, 2022, the United States Food and Drug Administration (“FDA”) announced that it was limiting the use of VIR’s monoclonal antibody, Sotrovimab, to treat COVID-19 in some U.S. regions due to the BA.2 Omicron sub-variant. On this news, VIR’s stock price fell $3.42 per share, or 13.5%, to close at $21.81 per share on March 25, 2022. Then, on April 5, 2022, the FDA announced that “Sotrovimab is no longer authorized to treat COVID-19 in any U.S. region due to increases in the proportion of COVID-19 cases caused by the Omicron BA.2 sub-variant.” Specifically, the FDA stated that “[d]ata included in the health care provider fact sheet show the authorized dose of sotrovimab is unlikely to be effective against the BA.2 sub-variant. Due to these data, sotrovimab is not authorized in any U.S. state or territory at this time.” On this news, VIR’s stock price fell sharply during intraday trading on April 5, 2022.
If you are aware of any facts relating to this investigation, or purchased Vir shares you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.