Adagio Therapeutics Says Its Investigational Drug For Covid-19 Met Primary Endpoints

(RTTNews) - Adagio Therapeutics, Inc. (ADGI) on Wednesday said the mid/late-stage studies of adintrevimab (ADG20), the company's investigational drug for the prevention and treatment of COVID-19, met primary endpoints.

The company said the Phase 2/3 trials evaluating ADG20 for pre-and-post-exposure prophylaxis of COVID-19, dubbed EVADE, and treatment for COVID-19, dubbed STAMP, met the primary endpoints with statistical significance for all three indications.

Risk of symptomatic COVID-19 was reduced by 71% compared to placebo in pre-exposure prophylaxis and 75% compared to placebo in post-exposure prophylaxis, Adagio noted.

Further, risk of hospitalization or death in participants with mild to moderate COVID-19 was reduced by 66% compared to placebo in the primary efficacy analysis population and by 77% compared to placebo in participants who received treatment within three days of symptom onset.

Adagio plans to submit emergency use authorization application to the FDA in the second quarter of 2022 for adintrevimab for both the prevention and treatment of COVID-19.

The company also reported its fourth-quarter results, logging a loss of $83 million, or $0.77 per share. Cash, cash equivalents and marketable securities were $591.4 million as of December 31, 2021.

Adagio shares are up more than 70% in pre-market at $6.62. It closed on Tuesday at $3.85, up $0.04 or 1.05%.