ADGI - ADGI STOCK NEWS

Invivyd, formerly Adagio Therapeutics, announced a name change reflecting its focus on developing anti-viral antibodies that enhance immunity against viral diseases, starting with COVID-19. The company will trade under the new ticker symbol IVVD on Nasdaq starting September 13, 2022. Invivyd aims to deliver effective antibody solutions through its advanced discovery platform, which integrates evolutionary virology and antibody engineering. Additionally, the company is working on multiple candidates for seasonal influenza prevention.

Adagio Therapeutics, Inc. (Nasdaq: ADGI) has announced its participation in two upcoming investor conferences. Management will engage in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference on September 12, 2022, at 2:50 p.m. ET. Additionally, they will hold one-on-one meetings at the H.C. Wainwright 24th Annual Global Investment Conference on September 13, 2022. A live webcast of the fireside chat will be available on the company's investor website.

Adagio focuses on developing treatments for infectious diseases, particularly its lead candidate, adintrevimab, targeting COVID-19.

Adagio Therapeutics (ADGI) reported Q2 2022 financial results, highlighting a cash position of $475 million to support operations into Q2 2024. The company is moving forward with multiple SARS-CoV-2 antibody candidates, aiming for clinical trials in Q1 2023. R&D expenses increased to $37.1 million, while SG&A expenses rose to $14.6 million, reflecting a significant operational scale-up. The net loss for the quarter was $51.0 million, compared to $44.7 million in Q2 2021, with a net loss per share of $0.47.

Adagio Therapeutics, Inc. (Nasdaq: ADGI) announced the election of three new directors from Mithril Capital Management, following overwhelming shareholder support exceeding 90% at its Annual Meeting. This board transformation aims to strengthen Adagio's mission to combat COVID-19 and other infectious diseases. Mithril emphasized the need for effective, durable therapeutics to address ongoing challenges posed by SARS-CoV-2 mutations. Adagio's unique antibody discovery technology is seen as essential for developing proactive solutions against respiratory viral threats.

Adagio Therapeutics, Inc. (Nasdaq: ADGI) has appointed David Hering as permanent CEO and director, following a thorough selection process. Hering, who previously served as interim CEO, brings extensive experience in infectious disease, including his role at Pfizer during the launch of a leading COVID-19 vaccine. The company remains committed to developing effective treatments for COVID-19 and infectious diseases, particularly through its lead candidate, adintrevimab, which is currently in clinical trials.

Marc Elia Named Chair of the Board of Directors

Adagio Therapeutics (Nasdaq: ADGI) announced the election of Marc Elia as Chair of its Board of Directors following its Annual Meeting of Stockholders. Industry experts Tamsin Berry and Dr. Clive Meanwell also joined the board, each receiving over 90% shareholder support. The renewed board aims to enhance Adagio's commitment to developing antibody solutions for infectious diseases, particularly COVID-19. Elia expressed optimism regarding the company's potential to innovate and tackle urgent viral threats.

Adagio Therapeutics (Nasdaq: ADGI) reported financial results for Q1 2022, revealing a cash position of $532.2 million and a projected runway into H2 2024. R&D expenses surged to $92 million due to clinical trial costs, while SG&A expenses rose to $8.7 million. The company recorded a net loss of $100.7 million, with a loss per share of $0.93. Positive data from the EVADE and STAMP trials bolster confidence in adintrevimab's efficacy against SARS-CoV-2 variants. Additional presentations are planned for June 2022.

Adagio Therapeutics, Inc. (Nasdaq: ADGI) announced promising preliminary results from its Phase 2/3 trials of adintrevimab (ADG20) for COVID-19. The drug demonstrated significant efficacy in preventing symptomatic COVID-19 and reducing hospitalization risks in pre-Omicron populations. However, due to its reduced activity against the Omicron BA.2 variant, the company is pausing its Emergency Use Authorization (EUA) submission, pending further analysis. Adagio plans to secure over one million doses of adintrevimab in 2022 and is exploring modifications to enhance its effectiveness against emerging variants.

Adagio Therapeutics (Nasdaq: ADGI) reported positive results from its Phase 2/3 trials for adintrevimab, showing a 71% reduction in symptomatic COVID-19 risk in pre-exposure and a 75% in post-exposure settings compared to placebo. The risk of hospitalization or death was reduced by 66% in mild to moderate COVID-19 patients, increasing to 77% for those treated within three days. With $591 million in cash projected to last into mid-2024, Adagio plans to seek Emergency Use Authorization from the FDA in Q2 2022.