Regeneron Pharmaceuticals (REGN -0.4%) is down a fraction on light volume as investors pause before tomorrow’s Q2 earnings release before the open. 2020 has been a good year, thus far, for the company. Shares are up a tidy 71% since December 31, 2019.
Consensus view is EPS of $5.96 (-1%) on revenues of $1.74B (-10%).
All eyes, of course, are on any new developments in COVID-19. Investors appear to be yawning at preclinical data, released after the close yesterday, on its COVID-19 cocktail REGN-COV2 despite encouraging results showing an almost complete block of viral infection in animals infected with very high levels of SARS-CoV-2.
Significant future catalysts will be interim data from two Phase 2/3 clinical trials testing REGN-COV2 in hospitalized and non-hospitalized patients and preliminary results from a Phase 3 study assessing the ability of the doublet antibody drug to prevent COVID-19 in people who have experienced close exposure to another with active infection.
Goldman’s Terence Flynn is bullish on the cocktail approach considering the (expected) success of its triple-antibody drug for Ebola virus disease REGN-EB3. Its U.S. marketing application is currently under FDA review with an action date of October 25.
REGN-COV2, produced by the company’s proprietary VelocImmune mice, consists of two neutralizing antibodies that bind non-competitively to the critical receptor binding domain of the coronavirus’ spike protein, diminishing the ability of mutant viruses to avoid treatment and protecting against spike variants that have arisen in the human population.
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