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AstraZeneca AZN announced that its antibody cocktail drug, Evusheld, has won its first global approval as a remedy for COVID-19. Evusheld, which is a mixture of tixagevimab and cilgavimab, has been approved in Japan for the prevention (pre-exposure prophylaxis) and remedy of symptomatic disease caused by SARS-CoV-2 infection.
Until now, Evusheld has been legal for use in pre-exposure prophylaxis to COVID-19 in certain high-risk populations in Europe, the United States and other countries.
For prevention, Evusheld is legal in Japan for use in adults and adolescents (aged 12 and over weighing at least 40 kg) for whom COVID vaccination is invalid and who would possibly not react adequately to a COVID-19 vaccine due to immunodeficiencies. As a treatment, Evusheld is approved for adults and adolescents who are at risk for a serious infection and do not need more oxygen.
AstraZeneca has reached an agreement with the Japanese government to acquire 300,000 Evusheld games. For the indication of cure, AstraZeneca plans to register regulatory programs in several countries in the near future.
So far this year, AstraZeneca shares have risen 8. 8% to a 2. 6% drop for the industry during that period.
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Approval in Japan was based on knowledge of Phase III PROVENT prevention studies and the outpatient remedy TACKLE.
Data from the PROVENT prevention study showed that an IM dose of 300 mg of Evusheld reduced the risk of developing COVID-19 symptoms compared to placebo by 77% in study number one and by 83% in a follow-up study. Data from the TACKLE outpatient treatment study showed that a 600 mg dose of Evusheld, given by intramuscular injection, reduced the risk of contracting a severe form of COVID-19 or death (any cause) by 50% compared to placebo in outpatients who had symptoms of seven days or less.
AstraZeneca has a zacks #3 (Hold) range.
Some of the top-ranked stocks in the biotech sector are Morphic MORF, Sesen Bio SESN and Agenus AGEN, all ranked lately as Zacks’ No. 1 (strong buy). You can see the full list of Zacks’ #1 ranking stocks today here.
Over the past 30 days, Morphic’s loss estimates consistent with the constant percentage in 2022 increased from $3. 38 to $1. 75. Loss estimates for 2023 increased from $3. 91 to $3. 77 over the same constant period. Morphic’s consistent percentages have lost 42. 1% since the start of the year.
Morphic’s earnings have exceeded estimates in 3 of the last 4 quarters and have not reached the target once, with a marvel of 48. 29% on average.
Sesen Bio’s loss estimates for 2023 have risen from 27 cents to 1 cent to 1 cent over the past 30 days. Sesen Bio’s percentages have fallen by 16. 6% this year.
Sesen Bio’s earnings have beaten estimates for the last 4 quarters, providing a 4-quarter wonder of 89. 49%, on average.
Agenus’ loss for 2022, consistent with constant percentage estimates, has risen from 89 cents to 70 cents over the past 30 days. Loss estimates for 2023 increased from 64 cents, consistent with the constant percentage, to 60 cents, consistent with the constant percentage over the same constant period. The percentages are down 16. 7% so far this year.
Agenus revenue has exceeded estimates in 3 of the last 4 quarters, while it is missing one. Inventory delivered a 4-quarter average negative marvel of 12. 02%.
Want the latest recommendations from Zacks Investment Research?Today you can download 7 movements for the next 30 days. Click for this single report from AstraZeneca PLC (AZN): Agenus Inc. Free Stock Analysis Report (AGEN): Free Stock Analysis Report SESEN BIO, INC. (SESN): Free Stock Analysis Report Morphic Holding, Inc. (MORF): Free Inventory Analysis Report To read this article in Zacks. com, click here. Zacks Investment Research