Eli Lilly and Company (LLY) was up 2.9% on Tuesday. For patients who are not hospitalized but are at risk of being critically ill due to their age or health, the FDA, the U.S. drug regulator, has just approved the immediate use of its new antibody therapy against Covid-19. The FDA supports its decision with proof that the need for immediate hospitalization or treatment for high-risk infected patients will be minimized by a single injection of therapy. The White House welcomed the decision of the FDA, claiming it “a significant turning point.”
Regeneron Pharmaceuticals, Inc. (REGN) slipped -1.4 percent, which has been used as comparable treatment administered to Donald Trump during his hospitalization last month after getting infected by the Covid-19. Anthony Fauci, the U.S. infectious disease specialist, said the treatment may undoubtedly helped Trump recovering the disease.
Consequently, this is more positive news in the battle against the Covid-19. Pfizer Inc. (PFE) (-1.3 percent) and its partner BioNTech SE (BNTX) (up 7.6 percent) excited the markets on Monday by announcing that at the end of their Phase 3 trial, their vaccine candidate was more than 90 percent successful. Both groups plan to request emergency approval from the FDA for the use of their vaccine immediately after two months of data has been collected. The two groups are preparing to generate 50 million doses in 2020, based on existing estimates, and then 1.3 billion in 2021.
Arcturus Therapeutics Holdings Inc. (ARCT) was up 13.8 percent and was not to be outdone as it expects to distribute its Covid-19 vaccine candidate as early as the first quarter of 2021, following promising findings in a preliminary trial.
The Altimmune Inc (ALT) gained up 19% and has entered into a partnership agreement with Lonza of Switzerland to develop another vaccine candidate for Covid-19.