Shares of Regeneron Pharmaceuticals Inc. (NAS:REGN) gained 1.1% in premarket trading on Tuesday after the drug maker said its COVID-19 antibody cocktail still reduced the risk of hospitalization and death by about 70% among COVID-19 patients at high risk of hospitalization when prescribed a lower dose. The drug, REGEN-COV, first received emergency authorization in November as a 2,400 milligram dose administered intravenously; the new data examines a 1,200 milligram dose and found that the lower dosing regimen had comparable clinical results. Regeneron said it plans to request that the lower dose be added to the emergency use authorization. It also said that a Phase 2 trial testing even lower doses of the antibody treatment administered subcutaneously demonstrated a reduction in viral load among study participants. There has been slower-than-expected utilization of authorized antibody treatments for COVID-19 that were developed by Regeneron and Eli Lilly & Co. (NYS:LLY) , the companies have said. Regeneron's stock has gained 6.0% over the past year. The S&P 500 (S&P:SPX) is up 70.9%.
March 23, 2021, 8:27 a.m. EDT