Here's Why Regeneron Gained 11% Last Month
Biopharma name Regeneron Pharmaceuticals (NASDAQ: REGN) rallied 11.2% in June, according to data from S&P Global Market Intelligence. A series of encouraging drug-development updates kept the recovery rally going.
A multi-month pullback from Regeneron that finally ended in May was put further into the rearview mirror last month. All told, from March's low to Wednesday's close -- the best close since November of last year when the stock was losing ground -- the stock's up an incredible 31%.
Several headlines spurred the advance, starting with the early June news that the FDA (Food and Drug Administration) had approved a lower dosage of the company's REGEN-COV (casirivimab and imdevimab) as a treatment for COVID-19. This decision introduced the potential for wider usage of the therapy. Just a few days later that door was opened even further when it was revealed that REGEN-COV improves the survival rate of COVID-19 in individuals that may not produce their own immune response.
Source Fool.com
