The secret elixir to Trump’s abrupt recovery from Covid-19 is now out in the open.
Regeneron’s REGN-COV2 finally gets regulatory approval from the US FDA after securing an Emergency Use Authorization.
Experts believe that the concoction treats mild to moderate symptoms of coronavirus in adults, including 65 years old and older, as well as pediatric patients who are 12 years old and above.
It has also been shown to reduce Covid 19-related hospitalizations, including confinement in emergency rooms by patients who are at greater risk of disease progression within the 28-day window.
Currently, the American biotechnology company expects the entry into force of approximately 80,000 units of inoculations for patients this month.
Consequently, distribution will be ramped up to 200,000 by the first week of next year and 300,000 by the end of January.
The doctors will apply antibody treatment by injection to provide passive immunity and develop protection to the disease immediately.
However, it must be re-administered after a certain amount of time to stimulate effectiveness.
Unlike the preventive protection that vaccines provide, the antibody shot aims to treat an existing infection that is already present in the host’s body.
According to Regeneron’s chief executive, such an achievement will greatly contribute to the fight against the pandemic.
However, the leader cautioned that equitable access to the drug might not be observed initially. The demand will continue to outpace supply at an exponential level in the early months after the first production.
Stocks Rose But Morgan Retains “Hold” Forecast
In the latest market charts, Regeneron’s stocks still trade in the green, settling at $518.74 per share after adding 0.78%.
The pre-market price recorded a robust 5.06% addition, translating to a $26.26 increase on to its $545 stock price.
Analysts from JP Morgan kept their forecast at Hold with a $550 per share price ceiling.
They defend this decision by saying that longer-term prospects for the drug including the firm’s commercial font remain volatile. With this, an analysis of price remains range-bound.
Currently, investors are keeping a hawk-eye on the developments on the pandemic situation which has worsened over the weeks.
On Friday before the announcement, the pharmaceutical firm ended the week with a 0.8% increase with $518.64 stock price.
Last week, the FDA also granted its nod on a drug administered for more severe conditions of infections, especially for those requiring ventilators.
Recently, shares of Regeneron surged after it posted better-than-expected third-quarter earnings.
The company earned $961 million with a profit of $8.36 per share, propelled by healthy sales on its on-the-market drugs.
