Kaohoon Morning Brief – 3 December 2021

1) GSK revealed lab tests of antibody drug working against omicron

The British drugmaker GlaxoSmithKline (GSK) with U.S. partner Vir is developing an antibody-based Covid-19 drug. GSK indicated that lab tests and a study on hamsters have shown the sotrovimab antibody cocktail works against viruses that were bio-engineered to carry a number of hallmark mutations of the new Covid-19 omicron variant.

 

2) Didi will delist from NYSE and list in Hong Kong

Chinese ride-hailing giant Didi said that it will start the process of delisting from the New York Stock Exchange and will move forward to list in Hong Kong Exchange instead. Chinese regulators last week asked Didi to remove itself from the U.S. stock market due to concerns of sensitive data leakage.

 

3) GRAB fell 33% on first trading day on Nasdaq

The share price of the Southeast Asia ride-hailing giant Grab plunged sharply on its first trading day on the Nasdaq Thursday, falling 33% from its $13.06 opening price to close at $8.75 per share. Grab, which traded under the symbol “GRAB,” is the largest-ever company to close a SPAC merger and go public.

 

4) South Africa sees surge in Covid-19 cases, Omicron symptoms still mild

South Africa is seeing a resurgence in Covid-19 cases and reinfection. The country recorded around 200-300 cases in mid November, but the cases started to climb afterward, reaching 8,500 cases on December 1 and 11,500 cases were registered yesterday. Among those cases in recent days were reinfection, according to the report.

Still, doctors stated that symptoms for reinfected patients and those infected after vaccination appear to be mild.