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Trading volume with the late trades now moves to 3k under 800k, a busy day once again trading TILS, let hope this continues.
Two additional trades have now popped up, yet another 25k @ 37.2 almost certainly a buy, and trade of 44616 shares from 15.09pm at 32.1p, one of the cheaper trades of the day. Now could this have been a stop loss that the MM's could see and dropped the price to suit, scoop them up to cover the buys and recover? Certainly something going on.
Ok so we have two 40k trades (Just under £14k) at 16.19pm priced at 34.38 I had quotes at 16.10 and 16.28 both were 35.20 to sell. So would assume these two are sells.
Two 25k at 16.25 @36.20p This is an inbetween price so harder to determine, however I would lean towards buys for two reasons, the two 40k trades earlier and if they were selling at that time of day I believe the price would have been sub 35p.
Volume at over 700k today.
Sanofi doses first patient in global Kevzara COVID-19 trial
Sanofi is leading trials outside the US while Regeneron is leading US trials
30th March 2020
The first patient outside the US has been treated with Kevzara in Sanofi and Regeneron’s global clinical trial programme, which is evaluating the drug in severely ill COVID-19 patients.
Sanofi, which is leading the Kevzara (sarilumab) trials outside the US, announced that the first patient had been dosed today, as the phase 2/3 trial is initiated in Italy, Spain, Germany, France, Canada and Russia.
Earlier this month, Sanofi and Regeneron announced that they had initiated the first trial of Kevzara, which is based in the US. The US has now overtaken both China and Italy in its number of confirmed coronavirus cases, reporting over 140,000 cases as of the 30 March.
The need for effective treatments for the novel coronavirus disease are crucial as global cases surge over 740,000 and deaths climb to more than 34,000.
Kevzara – an interleukin-6 inhibitor – is being evaluated on the basis that IL-6 may play a role in driving the overactive inflammatory response in the lungs of critically and severely ill COVID-19 patients.
This is supported by initial results from a study in China that evaluated another IL-6 inhibitor – Roche’s Actemra (tocilizumab) in severely ill COVID-19 patients.
This small-scale study demonstrated that treatment with the IL-6 inhibitor caused COVID-19 patients to experience rapidly reduced fevers, and 75% of patients reduced their need for supplemental oxygen within days of receiving the drug.
As a result of this preliminary data, Roche won an approval in China for Actemra as a treatment for patients with severe or critical COVID-19.
“Sanofi and Regeneron are relentlessly working to rapidly initiate trials around the world that will help determine whether Kevzara has the potential to play a role in addressing the COVID-19 global health crisis,” said John Reed, global head of research and development at Sanofi.
“These trials will provide important data to determine whether Kevzara ameliorates the life-threatening complications of COVID-19 infections by counteracting the overactive inflammatory responses in the lungs when damaged by the virus,” he added.
Last week, the US Food and Drug Administration (FDA) approved US-based trial of Roche’s Actemra following its promising results in China.
Both Roche and Sanofi/Regeneron’s drugs are already approved for the treatment of rheumatoid arthritis, but have been repurposed after their potential against COVID-19 was first discovered earlier this month.
Will be keeping a close eye to see if there are any delayed large trades appearing after hours. After the earlier drop I would not be surprised.
Maybe a RNS is not to far away :-)