Why Regeneron's Stock Is Trading Higher Today

Regeneron Pharmaceuticals REGN shares are trading higher on Tuesday after the company announced it has been awarded a $450 million contract to manufacture and supply REGN-COV2 Anti-Viral Antibody Cocktail.

Regeneron discovers, develops, and commercializes products that fight eye disease, cardiovascular disease, cancer, and inflammation. The company has six marketed products: Eylea, approved for wet age-related macular degeneration and other eye diseases; Praluent for LDL cholesterol lowering; Zaltrap in colorectal cancer; Dupixent in atopic dermatitis, asthma, and nasal polyposis; Libtayo in cutaneous squamous cell carcinoma; Arcalyst in CAPS; and Kevzara in rheumatoid arthritis.

Regeneron is also developing monoclonal antibodies with Sanofi in immunology and cancer.

Regeneron shares are trading up 3.69% at $650.40 at time of publication on Tuesday. The stock has a 52-week high of $651.31 and a 52-week low of $271.37.