Regeneron stock surges 3.4% in after-hours trading after White House doctor revealed Trump is receiving its 'antibody cocktail' to treat COVID-19
Regeneron stock has soared in after-hours trading, after the top White House physician said that President Donald Trump was receiving the company's 'antibody cocktail' after testing positive for COVID-19.
Trump's physician said on Friday that the president is being treated with Regeneron's experimental drug aimed at supplying antibodies to help fight his coronavirus infection.
Regeneron stock spiked upon the news, rising 3.4 percent in after-hours trading at 4.45pm.
The White House physician, Dr. Sean Conley, said the antibody drug was being given 'as a precautionary measure,' and that Trump also was taking zinc, vitamin D, an antacid called famotidine, melatonin and aspirin. None of those have been proven to be effective against COVID-19.
Regeneron stock has soared in after-hours trading, after the top White House physician said that President Donald Trump was receiving the company's 'antibody cocktail'
Trump apparently is not receiving hydroxychloroquine, a drug he widely promoted that has been shown in many studies to be ineffective for preventing or treating COVID-19.
Antibodies are proteins the body makes when an infection occurs. They attach to a virus and help it be eliminated. But it can take weeks for them to form. The drugs are purified versions of ones that seemed to work best in lab and animal tests.
Trump is receiving a two-antibody combo drug that's currently in late-stage studies from Regeneron Pharmaceuticals Inc. The company previously developed a successful treatment for Ebola using a similar approach.
It's given as a one-time treatment through an IV. Regeneron confirmed in a statement that it had supplied the White House with a single eight-gram dose of the treatment under what is known as a 'compassionate use request' from the White House physician.
The antibody treatment technique is already in wide use for treating a range of illnesses. Data so far is limited for COVID-19 antibodies, but U.S. infectious disease chief Dr. Anthony Fauci is among those saying it has promise.
Dr. Sean Conley, third from right, a Navy veteran and President Donald Trump's personal physician, is seen in April
Regeneron Pharmaceuticals Inc, one of the leaders in this area, has reported improved symptoms in non-hospitalized COVID-19 patients, with no serious side effects.
The treatment is undergoing clinical trials but hasn't received regulatory approval from the FDA for the treatment of coronavirus.
Conley said in a memo that Trump is 'fatigued but in good spirits.'
'He's being evaluated by a team of experts, and together we'll be making recommendations to the President and First Lady in regards to next best steps,' Conley said.
Trump first announced in an overnight tweet that he and First Lady Melania Trump, 50, had tested positive and were going into quarantine.
Earlier this week, Regeneron announced results from one of its early-stage trials which showed its drug, which is infused intravenously, reduced viral load and recovery time in non-hospitalized Covid-19 patients.
'We have begun discussing our findings with regulatory authorities while continuing our ongoing trial,' said George Yancopoulos, the company's president and chief scientific officer on Tuesday.
The US biotech firm is concurrently running late-stage trials for hospitalized Covid-19 patients and for the drug's potential use as a prophylaxis.
Full text of White House physician's update on Trump's treatment
Text of a memorandum from Sean Conley, physician to the president:
I release the following information with the permission of President Donald J. Trump.
Following PCR-confirmation of the President's diagnosis, as a precautionary measure he received a single 8 gram dose of Regeneron's polyclonal antibody cocktail. He completed the infusion without incident. In addition to the polyclonal antibodies, the President has been taking zinc, vitamin D, famotidine, melatonin and a daily aspirin.
As of this afternoon the President remains fatigued but in good spirits. He's being evaluated by a team of experts, and together we'll be making recommendations to the President and First Lady in regards to the next best steps.
First Lady Melania Trump remains well with only a mild cough and headache, and the remainder of the First Family are well and tested negative for SARS-CoV-2 today.