Regeneron Shares Surge After Trump Praises COVID Treatment

Regeneron Pharmaceuticals  (REGN) – Get Report shares surged higher in pre-market trading Thursday after President Donald Trump praised its coronavirus antibody treatment and the drugmaker said it will seek emergency use authorization from the Food & Drug Administration. 

Regeneron said its REGN-COV2 treatment, a combination of two monoclonal antibodies, is designed to prevent the infectivity of SARS-CoV-2, the virus that causes COVID-19. The group has around 50,000 doses available for public use and said it would have doses available for “300,000 patients in total within the next few months” if the Emergency Use Authorization (EUA) is approved.

President Trump was injected with the treatment last week, according to his physicians, and he claimed in a video released late Wednesday to “feel good immediately” and suggested that “it just me me better. I call that a cure.” 

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