Benzinga | May 12, 2021 02:02PM EDT

UK Rethinks COVID-19 Antibody Supply Deal With AstraZeneca: Bloomberg

* The U.K. government has reconsidered its plan to buy one million doses of AstraZeneca Plc's (NASDAQ: AZN) anti-SARS-CoV-2 antibody, according to sources quoted by Bloomberg.

* The rethink comes shortly before the first data from the treatment's trials that are expected in the coming weeks.

* In the U.K., where two-thirds of the population have already received the first dose of a COVID-19 vaccine, the potential benefits of AZD7442 may no longer hold enough allure to convince the government to follow through on its agreement with AstraZeneca.

* AstraZeneca agreed to provide the U.K. with one million doses of its long-acting COVID-19 antibody AZD7442 in November.

* The deal announced last year was a non-binding and in-principle agreement. By contrast, the U.S. increased its order for AstraZeneca's antibody treatment by half a million doses in March, taking its potential supplies to 700,000 in 2021.

* AstraZeneca has completed the dosing in Phase 2/3 trials of AZD7442 in prophylaxis and post-exposure prophylaxis settings.

* Data from the post-exposure prophylaxis study are due in the first half of 2021, with the results of the prophylaxis study set to follow before the end of 2021.

* AstraZeneca was still dosing in an outpatient treatment setting phase 2/3 study as of its latest update.

* The company has five advanced-stage trials testing a combination of two long-acting antibodies to prevent and treat COVID-19 in different populations.

* Price Action: AZN shares are trading 1.12% higher at $54.71 during the market session on the last check Wednesday.