Why Regeneron Pharmaceuticals Shot 7% Higher on Monday

Late last week, Regeneron Pharmaceuticals' (NASDAQ: REGN) experimental COVID-19 treatment was administered to President Donald Trump. Perhaps it helped; Trump tweeted that he was "feeling really good!" Trump left Walter Reed Medical Center on Monday evening to return to work at the White House.

News that Trump was scheduled to return to the official residence powered Regeneron to a 7%-plus gain on the day. It's worth noting that Trump was also given remdesivir, the repurposed antiviral drug from pharmaceutical industry peer Gilead Sciences (NASDAQ: GILD); however, that company's stock rose a comparatively light 2.3% on Monday.

Image source: The White House.

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Source Fool.com