Neutralizing monoclonal antibody therapies against the spike protein of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) play a significant role both in the prevention and treatment of the coronavirus disease 2019 (COVID-19). In this review we discuss the monoclonal antibody therapies that have received preliminary authorization for use in COVID-19 patients by the U.S. Food and Drug Administration or the European Medicines Agency. We review here their mechanisms of action, their efficacy in prophylaxis and treatment, their indications for use, and the impact of SARS-CoV-2 variants of concern on their activity.