Why Vir Biotechnology Stock Vaulted Higher Today

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Shares of Vir Biotechnology (NASDAQ: VIR) were vaulting 12.8% higher as of 3:07 p.m. EST on Tuesday. The big jump came after the company announced news about separate collaborations with Gilead Sciences (NASDAQ: GILD) and GlaxoSmithKline (NYSE: GSK)

Partnerships with big drugmakers often serve as positive catalysts for small biotech stocks. It’s not surprising that Vir’s updates about two different collaborations especially excited investors.

Image source: Getty Images.

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