Regeneron Pharmaceuticals (REGN) Stock Pops On Coronavirus News

Regeneron Pharmaceuticals REGN Stock News

Regeneron Pharmaceuticals Inc (NASDAQ: REGN) is running for the top in the market this morning, trading on gains of more than 10%. The gains come after the company announced that it has made progress in their work to fight the Wuhan coronavirus, or COVID-19. Here’s what’s happening.

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REGN Stock Runs Up On Coronavirus Update

In the press release, Regneron Pharmaceuticals provided an update with regard to its work to fight the coronavirus. In the release, the company said that its scientists have isolated hundreds of virus-neutralizing, fully human antibodies from the company’s VelocImmune mice. These mice have been genetically-modified to have a human immune system.

The company also said that it has isolated antibodies from humans who have recovered from COVID-19. The idea here is to maimize the pool of potentially potent antibodies.

In the release, REGN said that from this large pool of candidates, it plans on picking the top two antibodies for a cocktail treatment. The two antibodies will be selected based on potency and binding ability to the SARS-CoV-2 spike protein, which is the cause of the coronavirus infection. The company is also looking for oher “desirable qualties” in these antibodies.

The company said that through a multi-antibody approach, it will be able to target different parts of the virus. As such, the plan is for its product to protect against multiple viral variants.

Importantly, REGN has used this same process to develop a treatment for the Ebola virus. Today, this treatment is under review at the FDA.

The company is also looking forward. The goal is to produce hundreds of thousands of doses per month by the end of summer and be ready for initial clinical studies. In fact, it is expected that clinical studies will begin this summer. In its efforts, the company is working with the United States Health & Human Services’ Biomedical Advanced Research and Defense Authority, or BARDA, to increase capacity as it moves forward.

In a statement, George D. Yancopoulos, M.D., Ph.D., Co-founder, President and CSO at REGN, had the following to offer:

Our three decades of investment in our VelociSuite antibody technologies, which accelerate and improve the traditional drug discovery process, have hopefully prepared us for this critical time and to meet this important challenge. Given the tremendous interest and concern around the COVID-19 pandemic, we will be providing regular and transparent updates on our discovery and development programs. I want to recognize our incredible team, which is working around the clock to develop needed solutions to this global health crisis.

Importantly, Regeneron made another announcement yesterday. The company and its collaborator, Sanofi (NASDAQ: SNY) are initiating a Phase 2/3 clinical trial in the development of Kevzara for patients that are hospitalized with severe COVID-19.

This News Is Huge

Although there are plenty of companies working to develop a vaccine, few are actually working to develop a treatment for the novel coronavirus. Those that are working on treatments are still a long way off.

With the announcement today, REGN is making waves. Not only does it have what is likely a viable treatment option, this treatment option is heading into clinical trials relatively soon. Moreover, the company’s work on Kevzara may prove to be helpful for those with more severe symptoms.

All in all, REGN is well on its way to become a leader in the treatment of coronavirus, and that’s exciting for investors.

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