Regeneron progresses REGN-COV2 Phase III COVID-19 prevention trial

US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) saw its shares rise 4.6% on Monday and gain a further 3.6% to $650.03 by mid-morning today, after it announced the initiation of late-stage clinical trials evaluating REGN-COV2, Regeneron's investigational double antibody cocktail for the treatment and prevention of COVID-19, as well as a lucrative deal with the US government.

A Phase III trial will evaluate REGN-COV2's ability to prevent infection among uninfected people who have had close exposure to a COVID-19 patient (such as the patient's housemate), and is being run jointly with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). REGN-COV2 has also moved into the Phase II/III portion of two adaptive Phase I/II/III trials testing the cocktail's ability to treat hospitalized and non-hospitalized (or "ambulatory") patients with COVID-19.

This clinical progress follows a positive review from the Independent Data Monitoring Committee of REGN-COV2 Phase I safety results in an initial cohort of 30 hospitalized and non-hospitalized patients with COVID-19.