U.S.-listed shares of AstraZeneca were up 0.3% in after-hours trading on Wednesday after the Food and Drug Administration authorized the company’s COVID-19 monoclonal antibodies for pre-exposure prophylaxis in individuals who are immunocompromised or have a history of severe adverse reactions to a COVID-19 vaccine. In both instances, the individuals, who must be at least 12 years old, may not be able to gain protective antibodies through COVID-19 vaccination. This is the first authorization for a pre-exposure prophylaxis therapy in the U.S., though the FDA has already authorized some monoclonal antibodies for post-exposure prophylaxis. AstraZeneca’s therapy, Evusheld, pairs two monoclonal antibodies, to be given in separate injections. It may be effective for six months, the FDA said. AstraZeneca’s stock is up 10.3% so far this year, while the broader S&P 500 has gained 24.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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