On Oct. 7, President Donald Trump asked regulators to approve an emergency use authorization for Eli Lilly and Regeneron’s antibody treatments for COVID-19. Trump was discharged from the hospital on Oct. 5 after being treated for the coronavirus pandemic with the experimental treatment.
Trump pushes Regeneron’s COVID-19 treatment
Regeneron stock surged higher in the pre-market trading session on Oct. 8 after Trump praised the company’s experimental coronavirus antibody treatment. Regeneron has requested an emergency use authorization approval for its coronavirus treatment from the Food & Drug Administration.
Regeneron’s REGN-COV2 treatment, a cocktail of two monoclonal antibodies, is designed specifically to prevent the infectivity of the virus that causes coronavirus. The same treatment was given to Trump after being diagnosed with the COVID-19, despite it being not approved by the FDA.
According to a CNBC report, “At this time, there are doses available for approximately 50,000 patients, Regeneron said, “and we expect to have doses available for 300,000 patients in total within the next few months.”
What is Eli Lilly’s antibody treatment for COVID-19?
On Oct. 7, Eli Lilly said it has asked for an emergency use authorization of its experimental coronavirus treatment drug. The pharmaceutical giant recently announced data showcasing that its monoclonal antibody treatment was effective in moderate to mild COVID-19 patients. Eli Lilly expects to supply 100,000 doses in October 2020, and about one million doses by the end of 2020.
According to a Reuters report, Baird analyst Brian Skorney said, “We believe that Lilly’s data provides some real evidence that the combo mAb (monoclonal antibody) approach may provide meaningful clinical benefits.”
However, as many physicians caution, its effects still require considerable study.
The president says he’s found a miracle “cure” for #COVID19. As an ER doctor treating this virus, please listen to experts, not a politician. Here’s the truth about Regeneron, and why @realDonaldTrump might feel so good>>> pic.twitter.com/PgCnCX2uyM— Dr. Rob Davidson #WearAMask (@DrRobDavidson) October 7, 2020
What is Regeneron’s stock price today?
Regeneron stock was up about 4.6 percent at $619 in pre-market trading on Oct. 8 as of 6:30 AM ET. The stock rose 1.7 percent on Oct. 7 and closed at $591.69 with a market capitalization of $63 billion. Regeneron stock has risen by 4.2 percent in the last five days and 98.3 percent in the last year. Regeneron stock is trading 11 percent below its 52-week high of $664.64 and 104.8 percent above its 52-week low of $288.98.
What is Eli Lilly’s stock price today?
Eli Lilly stock was up about 2.2 percent at $152.31 in pre-market trading on Oct. 8 as of 6:36 AM ET. The stock rose 3.4 percent on Oct. 7 and closed at $148.96 with a market capitalization of $142.5 billion. Eli Lilly stock has risen by 3.2 percent in the last five days and 39.3 percent in the last year. Eli Lilly stock is trading 12.8 percent below its 52-week high of $170.75 and 47 percent above its 52-week low of $101.36.