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.
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,