Regeneron stock higher after news its COVID-19 trial drug given to Trump

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Shares of Regeneron Pharmaceuticals Inc. rose more than 2% in the extended session Friday after a White House doctor said that President Donald Trump, who tweeted late Thursday he had tested positive for COVID-19, had received one of the drug maker’s trial antiviral drug cocktails to combat the illness. Trump received the infusion as “precautionary measure” and completed it “without incident,” said in a memo Sean Conley, the president’s physician. Trump also has been taking famotidine, an antacid, as well as zinc, vitamin D, melatonin and a daily aspirin, Conley said in the memo. Regeneron said Thursday its trial drug, named REGN-COV2, reduced the virus load and the time needed to ease symptoms in non-hospitalized patients with COVID-19 and showed “positive trends in reducing medical visits.” REGN-COV2 is undergoing a trial that measures the effects of adding it to the usual COVID-19 standard of care compared with adding a placebo. The cocktail is one of a few experimental drugs aimed at treating people with mild to moderate forms of the disease. Regeneron shares ended the regular trading day down 0.7%.
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