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Investing.com — Aridis Pharmaceuticals Inc (NASDAQ:ARDS) shares have rallied Tuesday morning. The rise is a result of news that the company’s antibody cocktail AR-701 is effective against Omicron and other Covid-19 variants.
Aridis shares doubled premarket, a positive boost for a company that’s seen its stock decline throughout 2021. They are currently trading 34% above Monday’s close.
The company explained that AR-703 binds to the Omicron variant “with no loss in affinity” compared with the original Covid-19 strain. Furthermore, Aridis studies showed that AR-701 had neutralization against all of the variants tested.
“Omicron has rendered current COVID-19 vaccines and monoclonal antibodies substantially less effective, and likely future COVID 19 variants will arise that continue this trend,” said Vu Truong, CEO of Aridis Pharmaceuticals.
Adding: “Our laboratory data suggest that AR-701 has the potential to be a future-proof COVID-19 therapy that can protect against SARS-CoV-2, SARS, or MERS pandemics.”
