Regeneron’s stock rallies after it announces EUA request for antibody treatment

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Shares of Regeneron Pharmaceuticals Inc. were up 4.7% in premarket trading on Thursday, the day after the company said it had submitted a request for emergency authorization to the Food and Drug Administration for its experimental antibody treatment. The therapy was prescribed to President Donald Trump last week as part of his COVID-19 treatment plan; on Wednesday, in a video, Trump called it a “cure.” (He was also prescribed Gilead Sciences Inc.’s remdesivir and the steroid dexamethasone.) Regeneron’s announcement to file for an emergency use authorization (EUA) came the same day that Eli Lilly & Co. , which is also developing an antibody treatment for mild to moderate COVID-19 patients, announced Wednesday morning it had requested an EUA. Regeneron’s stock is up 57.6% so far this year. The S&P 500 , in comparison, has gained 5.8%.
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