AstraZeneca Secures $486 Million From U.S. Government for Coronavirus Antibody Cocktail

AstraZeneca (NYSE: AZN) has secured $486 million from the U.S. government's Biomedical Advanced Research and Development Authority to support the development of AZD7442, an antibody cocktail for the treatment and prevention of COVID-19.

For its support, BARDA will get up to 100,000 doses of the drug and has the option to purchase up to 1 million additional doses of the treatment in 2021. The company didn't disclose the value of the potential million-dose contract.

AZD7442 is a cocktail of two long-acting antibodies designed to last for six to 12 months, making it especially useful for long-term prevention of COVID-19.

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Source Fool.com