OPKO Health rises as ModeX starts early trial of COVID-19 prevention antibody

Shares of biotech firm OPKO Health OPK.O rise 1.7% to $1.19 premarket

Co says its unit ModeX Therapeutics begins dosing volunteers in an early-stage study

ModeX’s experimental antibody MDX2301 is being tested to prevent COVID-19, an infectious respiratory disease that can be severe in older adults and people with long-term illnesses, co says

Says early-stage trial will enrol about 80 healthy adults and high‑risk people to test safety, how the drug behaves in the body and its ability to block the virus

Adds MDX2301 is designed to block all known variants and is given by vein or muscle injection; it is not yet approved

Says study is funded by the U.S. government’s BARDA and could support similar approaches for other viruses such as influenza

As of last close, stock down ~7% YTD