Regeneron Pharmaceuticals (NASDAQ:REGN) stock is taking off on Monday following news that its treatment for the novel coronavirus was used on President Donald Trump.
Regeneron Pharmaceuticals is working on an antibody treatment for the coronavirus that has yet to get approval from the U.S. Food and Drug Administration (FDA). The treatment was used on President Trump, who tested positive for the virus last week.
Even though the treatment doesn’t have FDA approval, that could change in the near future. Analysts are predicting it will receive emergency use authorization from the FDA in the coming days to treat patients suffering from the virus. That would be a massive boost to Regeneron Pharmaceuticals stock, reports MarketsInsider.
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