Bullish Case: VIR's pipeline advancements, particularly in hepatitis treatments, could lead to significant FDA approvals, driving investor sentiment and stock price upwards. Positive clinical data on partnerships may also catalyze investor interest, capitalizing on low entry points.

Bearish Case: Continued insider selling and mixed clinical trial outcomes could further depress VIR's stock price, potentially dragging it below $6 amid persistent market skepticism and high operational uncertainty.

Potential Outcomes:

• FDA approval for VIR treatments (40% chance)
• Negative clinical trial results lead to stock drop (30% chance)
• Stagnation due to mixed signals (30% chance)

Trading Oracle: Consider a bullish strategy by entering a long-dated call spread, buying the January 2025 $10 call and selling the $12.50 call. The elevated implied volatility suggests a favorable risk-reward setup. Focus on gaining from potential FDA news while limiting downside risk.

December 19, 2024