Merck & Co., Inc. (MRK - Free Report) announced that it has reached an agreement with the U.S. government to manufacture and supply its investigational biological therapeutic, CD24Fc (to be named MK-7110), which is being developed for treating patients seriously affected by COVID-19.
Merck is collaborating with the U.S. government to supply approximately 60,000-100,000 doses of MK-7110, upon potential approval or an Emergency Use Authorization (“EUA”) from the FDA.
Per the agreement, Merck will be eligible to receive up to $356 million for supplying said doses of MK-7110 through June 30, 2021 to the U.S. government to meet the latter’s Operation Warp Speed goals.
Shares of Merck have decreased 12.3% so far this year, against the industry’s increase of 0.9%.
We remind investors that Merck added MK-7110 to its portfolio following the acquisitionof private biotech OncoImmune for an upfront cash payment of $425 million in November 2020. The candidate is currently being evaluated in a phase III study for treating severe and critical COVID-19.
Notably, top-line data from an interim analysis of the phase III study showed that treatment with MK-7110 led to 60% higher probability of improvement in clinical status of patients with severe or critical COVID-19 versus placebo while reducing the risk of death or respiratory failure by more than 50% in such patients.
This apart, Merck is developing an orally available antiviral candidate, molnupiravir, in collaboration with Ridgeback Bio for treating COVID-19 patients. Two pivotal studies are evaluating the candidate in non-hospitalized adult COVID-19 patients or hospitalized adult COVID-19 patients.
We note that, over past couple of months, the FDA has given EUA to several treatments for severe illness caused by SARS-CoV-2.
In November 2020, the FDA gave EUA to Regeneron’s (REGN - Free Report) antibody cocktail, casirivimab and imdevimab, administered together (formerly known as REGN-COV2 or REGEN-COV2) for the treatment of mild-to-moderate COVID-19 in patients who are at high risk of progressing to severe COVID-19 and/or hospitalization.
Also, in November 2020, the FDA granted EUA to Eli Lilly’s (LLY - Free Report) antibody drug, bamlanivimabas, a monotherapy for the treatment of recently diagnosed mild-to-moderate COVID-19 illness in patients who are at high risk of progressing to severe COVID-19 or hospitalization.
The FDA also granted EUA to Lilly and Incyte’s (INCY - Free Report) oral JAK inhibitor, Olumiant, for use in combination with Gilead’s remdesivir in hospitalized COVID-19 patients based on positive phase III results from the ACTT-2 study in November 2020.
Zacks Rank
Merck currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Merck & Co., Inc. (MRK - Free Report) announced that it has reached an agreement with the U.S. government to manufacture and supply its investigational biological therapeutic, CD24Fc (to be named MK-7110), which is being developed for treating patients seriously affected by COVID-19.
Merck is collaborating with the U.S. government to supply approximately 60,000-100,000 doses of MK-7110, upon potential approval or an Emergency Use Authorization (“EUA”) from the FDA.
Per the agreement, Merck will be eligible to receive up to $356 million for supplying said doses of MK-7110 through June 30, 2021 to the U.S. government to meet the latter’s Operation Warp Speed goals.
Shares of Merck have decreased 12.3% so far this year, against the industry’s increase of 0.9%.
We remind investors that Merck added MK-7110 to its portfolio following the acquisitionof private biotech OncoImmune for an upfront cash payment of $425 million in November 2020. The candidate is currently being evaluated in a phase III study for treating severe and critical COVID-19.
Notably, top-line data from an interim analysis of the phase III study showed that treatment with MK-7110 led to 60% higher probability of improvement in clinical status of patients with severe or critical COVID-19 versus placebo while reducing the risk of death or respiratory failure by more than 50% in such patients.
This apart, Merck is developing an orally available antiviral candidate, molnupiravir, in collaboration with Ridgeback Bio for treating COVID-19 patients. Two pivotal studies are evaluating the candidate in non-hospitalized adult COVID-19 patients or hospitalized adult COVID-19 patients.
We note that, over past couple of months, the FDA has given EUA to several treatments for severe illness caused by SARS-CoV-2.
In November 2020, the FDA gave EUA to Regeneron’s (REGN - Free Report) antibody cocktail, casirivimab and imdevimab, administered together (formerly known as REGN-COV2 or REGEN-COV2) for the treatment of mild-to-moderate COVID-19 in patients who are at high risk of progressing to severe COVID-19 and/or hospitalization.
Also, in November 2020, the FDA granted EUA to Eli Lilly’s (LLY - Free Report) antibody drug, bamlanivimabas, a monotherapy for the treatment of recently diagnosed mild-to-moderate COVID-19 illness in patients who are at high risk of progressing to severe COVID-19 or hospitalization.
The FDA also granted EUA to Lilly and Incyte’s (INCY - Free Report) oral JAK inhibitor, Olumiant, for use in combination with Gilead’s remdesivir in hospitalized COVID-19 patients based on positive phase III results from the ACTT-2 study in November 2020.
Zacks Rank
Merck currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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