A Regeneron executive and one of its directors sold $1 million worth of stocks two days after President Donald Trump announced he was taking their therapeutic, recent filings from the Securities and Exchange Commission reveal.



a sign on the side of a building: Regeneron Begins Human Trials Of Coronavirus Antibody Cocktail


© Michael Nagle
Regeneron Begins Human Trials Of Coronavirus Antibody Cocktail

Last Friday night, the White House announced that as part of Trump’s treatment for coronavirus, he had received Regeneron’s experimental antibody cocktail that has not passed formal trials or been approved by the Food and Drug Administration.

One day later, the president appeared in a video posted to his Twitter account about his treatment at Walter Reed National Military Medical Center.

“They gave me Regeneron,” he said, saying the company name instead of the treatment’s name, REGN-COV2. “It was like, unbelievable. I felt good immediately. I felt as good three days ago as I do now.”

At another point in the video he said that the therapeutics he was given were “miracles…we have things happening that look like they’re miracles coming down from God.”

“I think this was a blessing from God that I caught [the virus], I think it was a blessing in disguise,” Trump said in the video. “I caught it, I heard about this drug, I said, ‘Let me take it’ … and it was incredible the way it worked.”

“I call that a cure,” he said. “It’s a cure.”

After the video posted, Regeneron’s stock jumped over 3 percent in after-hours trading.

On Monday, when markets opened, Regeneron stock prices surged $33 to $598 a share. That day, Joseph Goldstein, who sits on the company’s board of directors, and SVP and Head of Commercial Marion McCourt exercised stock options that let them sell a total of 10,200 shares for a net profit of over $1 million. According to filings,

Welcome to Thursday’s Overnight Health Care.



Donald Trump wearing a suit and tie: Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn't visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent


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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent

Regeneron filed for emergency authorization of its antibody COVID-19 treatment drug, just hours after President Trump claimed it basically cured him. Mitch McConnell hasn’t been to the White House in months, and a new analysis shows Americans’ job-based health care is continually getting more expensive.

We’ll start with Regeneron:

Regeneron asks for emergency authorization of coronavirus treatment Trump received

Biotech company Regeneron late Wednesday applied for emergency authorization for an experimental antibody treatment praised by President Trump.

“Subsequent to our discussions with regulatory authorities, we have submitted a request to the U.S. Food and Drug Administration for an Emergency Use Authorization (EUA) for our REGN-COV2 investigational antibody combination for COVID-19,” the company said in a news release.

The move came just hours after the president praised the efficacy of the treatment in a short video message posted on Twitter.

“They gave me Regeneron, it’s called Regeneron,” Trump said in the five-minute video Wednesday afternoon. “It was unbelievable. I felt good immediately. I felt as good three days ago as I do now.”

Why it matters: Trump was taking several drugs for his illness, so it’s not clear which helped him feel better. He claimed he has the “emergency use authorization all set,” but the FDA is supposed to make decisions based on science and not demands from the president. Regeneron’s drug is still undergoing clinical trials, and while early results seem promising, the company has not released data to back up its claims.

Read more here.

McConnell says he hasn’t visited White

Shares of Regeneron  (REGN) – Get Report continue to bubble higher for the bulls. The stock was rising 2% on Thursday, but for the week it’s up 7.5%.

The boost is coming after President Trump took Regeneron’s Covid-19 cocktail in an effort to combat the coronavirus. His quick return to the White House and positive commentary on Regeneron isn’t hurting either.

Now the company is going for emergency approval from the Food and Drug Administration.

The stock has been on fire in 2020, although not so much over the last few months. When the rest of the market started to tank in late February, Regeneron shares began to rally.

Shares are still up about 60% on the year, despite pulling back 18.75% from peak to trough earlier this summer. 

Can the stock get back its mojo and continue higher from here? Let’s look at the charts.

Trading Regeneron Stock

Weekly chart of Regeneron stock.

Weekly chart of Regeneron stock.

Just look at how strong this stock has been, surging from the 2019 lows near $275 to highs north of $650 in 2020. The rally has been tremendous and it only makes sense that Regeneron stock eventually cooled off.

Remember, consolidation phases are healthy price action.

Over the last month, Regeneron hammered out a solid bottom near the $540 to $550 area. During that time, the 10-week moving average was acting as resistance.

With this week’s action though, the stock has reclaimed the 10-week moving average and so far the stock is holding it as support.

From here, bulls need to see shares maintain above the $575 area and the 10-week moving average. If it can do so, it increases the odds that Regeneron stock can take out this week’s high near $620 and make another run toward the $650

Here are five things you must know for Thursday, Oct. 8:

1. — Stock Futures Rise on Stimulus Optimism

Stock futures traded higher Thursday as Wall Street grew more optimistic lawmakers could secure further fiscal stimulus for the U.S. economy even if it comes in the form of smaller relief bills.

Contracts linked to the Dow Jones Industrial Average were up 105 points, S&P 500 futures gained 13 points and Nasdaq futures rose 65 points.

Stocks finished sharply higher Wednesday after President Donald Trump said he would consider alternative aid measures such as a new round of stimulus checks, the Paycheck Protection Program and support for airlines. House Speaker Nancy Pelosi also signaled support for a standalone airline stimulus bill.

Airlines have begun furloughing or laying off workers following the expiration of a federal prohibition on job cuts tied to the $25 billion in federal aid they received earlier this year. Airlines said they would reverse the furloughs if they received additional help.

“Even though there is uncertainty now about the fiscal stimulus negotiations, regardless of who wins the election, we are likely to have additional fiscal stimulus,” said Nancy Davis, founder of Quadratic Capital and portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge ETF  (IVOL) – Get Report.

With the uncertainty, she added, “I think it’s important for investors to have a diversified portfolio, with investments that are uncorrelated to each other. We should expect more uncertainty going forward.”

2. — Thursday’s Calendar: Jobless Claims, Domino’s Pizza Earnings

The economic calendar in the U.S. Thursday includes weekly Jobless Claims at 8:30 a.m. ET. Economists forecast the number of Americans applying for first-time unemployment benefits last week to have dipped to 819,000 from 837,000 a week earlier. Data from California aren’t included in the

  • Leonard Schleifer and George Yancopoulos, the billionaire doctors behind Regeneron Pharmaceuticals, are worth nearly $4 billion combined.
  • President Trump took a high dose of the experimental ‘antibody cocktail’ that Regeneron is developing to treat his case of COVID-19.
  • Even before he took the drug, the president was friendly with Schleifer.
  • Yancopoulos told The New York Times that the president’s request to take the antibody cocktail left him ‘conflicted.’
  • Schleifer handles the business end of Regeneron’s operations, while Yancopoulos heads up the medical research needed to develop the company’s products.
  • Visit Business Insider’s homepage for more stories.

The antibody cocktail that President Trump took to fight his case of COVID-19 was the brainchild of a pair of billionaire doctors.

Leonard Schleifer and George Yancopoulos, the leaders of the pharmaceutical giant Regeneron, built a multibillion-dollar company with a reputation for producing drugs at a breakneck pace and built fortunes that rival the president’s in the process.

Representatives of Schleifer and Yancopoulos at Regeneron did not immediately respond to Business Insider’s request for comment on the billionaires’ personal histories, net worths, or careers at Regeneron.

Keep reading to learn more about Regeneron billionaires Leonard Schleifer and George Yancopoulos.

Read more: Trump just received Regeneron’s experimental COVID-19 treatment. Here’s the inside story of the biotech and its 2 billionaire founders.

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