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Why Regeneron Pharmaceuticals Jumped on Monday

Madeleine Johnson
·1 min read

Shares of Regeneron Pharmaceuticals REGN surged higher on Monday as speculation grew that the FDA will authorize its coronavirus treatment for emergency use.

REGN closed up over 7% to $605.08 per share. The pharma stock has gained about 23% over the past six months

Regeneron’s treatment was given to President Trump over the weekend after he was taken to Walter Reed Medical Center following his Covid-19 diagnosis. Trump’s doctors said he received an infusion of the company’s dual antibody treatment.

The drug is known as REGN-COV2, and is currently being evaluated in a trial that is studying its use in early coronavirus infections.

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