American Biotechnology Regeneron Pharmaceuticals Inc. shares slid 0.05% to $534.02 Tuesday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.51% to 4,246.44 and the Dow Jones Industrial Average DJIA rising 0.20% to 33,945.58.
Regeneron Pharmaceuticals Inc. closed $130.62 short of its 52-week high ($664.64), which the company reached on July 20th. Despite its losses, the stock outperformed some of its competitors Tuesday, as Johnson & Johnson JNJ fell 0.13% to $163.62, Novartis AG ADR NVS fell 0.83% to $93.13, and Amgen Inc. AMGN fell 0.14% to $239.91.
Regeneron Pharmaceuticals Inc. trading volume (651,994) remained 101,867 below its 50-day average volume of 753,861. This was the stock’s second consecutive day of losses. The British study part of the wider Recovery trial investigating various possible treatments for people hospitalized with coronavirus found that an antibody combination made by Regeneron reduces the risk of death when given to patients with severe Covid who have not mounted a natural antibody response of their own.
The treatment uses a cocktail of two monoclonal antibodies casirivimab and imdevimab, known as Regen-Cov in the U.S.that bind specifically to two different sites on the coronavirus spike protein, neutralizing the ability of the virus to infect cells.Previous studies in nonhospitalized Covid patients have shown that the treatment reduces viral load, shortens the time to the resolution of symptoms, and significantly reduces the risk of hospitalization or death.
But in a small trial in hospitalized patients, preliminary evidence suggested a clinical benefit for patients who had not mounted a natural antibody response of their own when they entered the trial. This latest study is the first trial large enough to determine definitively whether this treatment reduces mortality in patients hospitalized with severe Covid.