A coronavirus antibody treatment being tested by Regeneron (NASDAQ: REGN) is showing promise in its first round of human testing. Patients treated with Regeneron's antibody serum saw their symptoms ease, and coronavirus's overall presence in their body drop significantly.
As detailed in the company's release for investors, Regeneron's treatment is a special antibody cocktail designated REGN-COV2; the cocktail is a special mix of two antibodies, specifically designed to "block infectivity of SARS-CoV-2, the virus that causes COVID-19." According to Regeneron's release, thousands of different antibodies were tested, with the two antibodies selected being singled out for their ability to curb the virus's infectivity.
"After months of incredibly hard work by our talented team, we are extremely gratified to see that Regeneron's antibody cocktail REGN-COV2 rapidly reduced viral load and associated symptoms in infected COVID-19 patients," said Dr. George D. Yancopoulos, President and Chief Scientific Officer at Regeneron. "The greatest treatment benefit was in patients who had not mounted their own effective immune response, suggesting that REGN-COV2 could provide a therapeutic substitute for the naturally-occurring immune response. These patients were less likely to clear the virus on their own, and were at greater risk for prolonged symptoms."
It was noted by Guggenheim (NYSE: GOF) analyst Yatin Suneja that Regeneron's results were better than a competing treatment by Eli Lilly (NYSE: LLY). Lilly's treatment was promising, but Regeneron's treatment proved more efficient, likely due to two antibodies' usage rather than one.
The antibody treatment is good news at a time of great uncertainty, with a second wave of coronavirus infections sweeping the country and a financial crisis looming large over consumers. Regeneron's promising treatment is being joined by Lilly's treatment, as well as Gilead's (NASDAQ: GILD) Remdesivir and Merck's (NYSE: MRK) oral antiviral. The wide variety of treatments undergoing testing and the relatively positive testing results, as well as the ongoing production of a vaccine worldwide, could eventually help stem the pandemic.
Regeneron's announcement came just after market close on Tuesday, prompting a considerable bump in after-hours trading. Regeneron shares jumped 2.8% between market close on Tuesday and market open on Wednesday, with the opening price of $589.77 being the high point for the day before shares slumped, ending 5.1% down from the day's opening price at $559.78. Regeneron shares showed improvement during trading on Thursday, ending the day 1.5% up from the previous close at $568.14.