Benzinga | Aug 23, 2021 12:05PM EDT

Vir Biotech-GSK's COVID-19 Treatment Wins Provisional Approval In Australia

* The Australian Therapeutic Goods Administration has granted provisional marketing authorization for Vir Biotechnology Inc's (NASDAQ:VIR) for sotrovimab, a monoclonal antibody for COVID-19.

* The approval covers adults and adolescents who do not require initiation of oxygen due to COVID-19 and are at increased risk of progression to hospitalization or death.

* Vir Biotechnology developed sotrovimab in partnership with GlaxoSmithKline plc (NYSE:GSK).

* It is authorized for emergency use in the U.S. and has received a positive scientific opinion from CHMP in the European Union.

* Price Action: VIR stock is up 1.14%% at $47.00, while GSK stock is down 0.55% at $41.62 during the market session on the last check Monday.