7/7, 2:40 PM (Source: TeleTrader)
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Regeneron gets $450M for vaccine advancement

Regeneron Pharmaceuticals Inc. signed a contract worth $450 million with the United States government and will take part in the Operation Warp Speed program, aimed at combatting COVID-19, the company said on Tuesday.

Regeneron developed a double antibody cocktail REGN-COV2, which is being tested as a treatment for and prevention against COVID-19. The funding is meant to both scale-up and speed Regeneron's manufacturing process.

The company's shares went up by 2.03% in the premarket, selling for $640 at 8:34 am ET.

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