The Regeneron Pharmaceuticals Inc announced on Tuesday that it had identified hundreds of antibodies that could potentially treat the coronavirus. Th
The Regeneron Pharmaceuticals Inc announced on Tuesday that it had identified hundreds of antibodies that could potentially treat the coronavirus. The clinical trial will be preparing to start early mid-summer. It has announced its partnership with the U.S. Department of Health and Human Services to develop a coronavirus treatment and said it would focus on monoclonal antibodies.
The company will select the top 2 antibodies to develop a “cocktail” treatment and scale up its manufacturing to produce 200,000 doses per month by the end of summer.
This potential treatment can send in the drugmaker’s shares up 12 percent.
“It seems acute treatments will be needed for hundreds of thousands of cases, and there could recurring outbreaks in the future… investors are now ascribing greater value to Regeneron stock for this,” Oppenheimer analyst Hartaj Singh said.
The Regeneron Pharmaceuticals has a robust history of drug development for pandemics, noting that during the Ebola outbreak, the US drugmaker’s antibody cocktail demonstrated the greatest effect.
A lot other drugmakers are currently working on vaccines, antivirals and other treatments to help those infected with the fast-spreading virus, with some antivirals already being used in trials.
Pfizer Inc has agreed to co-develop a vaccine with German drugmaker BioNTech SE as well as develop antiviral treatments that could potentially be used with Gilead Sciences Inc’s antiviral called remdesivir against the coronavirus.
Johnson & Johnson and Sanofi have also teamed up with a US government agency to develop virus vaccine candidates.
Drug developer Moderna Inc, which dosed its first patient with its experimental vaccine on Monday, has made the most headway among companies engaged in coronavirus vaccine development efforts.
In addition to the development of the antibody cocktail, the drugmaker is testing its rheumatoid arthritis drug, Kevzara, with partner Sanofi against the virus.
As of March 24, COVID-19, which first emerged in China in December last year, has infected some 378,000 people in 174 countries, among whom 16,500 have died.