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Regeneron Stock Gets Boost From Support of Texas, Florida Governors

Republican Govs. Ron DeSantis of Florida and Greg Abbott of Texas have touted Regeneron's antibody therapy for COVID-19.
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Regeneron  (REGN) - Get Regeneron Pharmaceuticals, Inc. Report shares firmed Wednesday, as Republican Govs. Ron DeSantis of Florida and Greg Abbott of Texas have touted the company’s antibody therapy for COVID-19.

Regeneron delivered 135,023 doses of Regen-COV to U.S. healthcare providers last week, up 800% from a month ago, according to company data cited by Dow Jones.

Regeneron CEO Leonard Schleifer said earlier this month that usage of the therapy has soared in recent months, according to Barron’s.

The stock on Wednesday traded at $652.84, up 0.8% at last check, and has climbed 37% over the past six months.

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DeSantis, who has blocked mask mandates in his state, is a big Regeneron booster. "This is the best shot we've got right now to keep people out of the hospital and keep them safe," he said last week, according to a Washington Post report.

He said prescriptions might not even be required for the Regeneron drug and created a rapid-response team to give monoclonal antibody treatment to COVID-19 patients last week, Barron’s reports.

As for Abbott, last week he said state agencies would offer nine new antibody-therapy infusion centers in Texas, according to Barron’s. He is slated to get Regen-COV after contracting the coronavirus.

Last month, TheStreet.com founder Jim Cramer said Regeneron is the stock to look at if the government urges American’s to get a booster shot for the COVID-19 vaccine.

He noted that states hit hard by COVID-19, such as Florida, Louisiana and Texas, have ordered “a ton” of monoclonal antibodies. “So that’s going to boost Regeneron’s quarter,” Cramer said.