Regeneron Pharmaceuticals, Inc. (NASQAD: REGN) announced a significant breakthrough in the search for COVID-19 treatment. The company said that its scientists have identified hundreds of virus-neutralizing antibodies that could be used to treat novel coronavirus.
REGN stocks rise as the company announced the development of the coronavirus vaccine. Shares increased 12% and closed at $491.69 on the last trading session on Tuesday. REGN has a trading volume of roughly 607,379 compared to its average volume of 1,092,652. REGN has a total market capitalization of $53.751 billion. REGN has a day low and high range of $483.52 – $499.00, respectively.
Regeneron reported that the company previously used this technology to develop a successful treatment of Ebola virus infection. The US food and drug administration is currently examining it.
The biotech giant revealed that it developed hundreds of potential medicines that could treat COVID-19. REGN may enter clinical trials by early summers.
Regeneron drugs, known as monoclonal antibodies, basically the antibodies that are made by identical immune cells that are clones from parents’ cells. These antibodies can counteract pathogens. Regeneron’s antibodies are made in Velocimmune mice that have been genetically engineered to have a human-like immune system. When given to the patient his or her immune system will not attack the antibody.
REGN also isolate antibodies from the patient recovered from COVID-19 to maximize the pool of potentially potent antibodies. The tech giant will select the top two antibodies for a ‘cocktail’ treatment based on potency and binding ability to the SARS-CoV-2 spike protein, as well as other desirable qualities.
Currently, there is 10 hold rating and 13 buying rating of REGN stocks suggests the overall rating of buy.
Regeneron Pharmaceuticals, Inc., a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company’s products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME), myopic choroidal neovascularization.