Shares of companies known to be pursuing coronavirus treatments were higher Monday amid a broad market rally.
Among notable coronavirus stocks, 26 rose while 4 fell.
The World Health Organization has identified more than three dozen labs at biopharma companies, universities, and international research organizations which have jumped into the race to find treatments to halt the pandemic.
Vir Biotechnology (VIR) - Get Report shares rose $7.70, or 26.55%, to $36.70 after GlaxoSmithKline (GSK) - Get Report announced a $250 million investment in the company as well as plans to collaborate in developing treatments and vaccines for the coronavirus.
Among coronavirus stocks lagging Monday, Kiniksa (KNSA) - Get Report shares fell 12 cents, or 0.67%, to $17.79. Kiniksa says it has seen positive preliminary results from its mavrilimumab monoclonal antibody in patients suffering from COVID-19.
Gilead is in Phase 3 trials to evaluate the effectiveness of its remdesivir medication in patients with moderate and severe COVID-19. Gilead Sciences, Inc. is a component of the Real Money Post Industrial Average. To find out more it and other Real Money products please click here.
In the broader markets, the S&P 500 index rose 175.03 points, or 7.03%, to 2,663.68 amid signs the pandemic may be slowing in the U.S. The Nasdaq Composite Index rose 540.15 points, or 7.33%, to 7,913.24.
Seven coronavirus stocks outperformed the S&P 500 while 23 lagged.