Regeneron, J&J receive millions to develop new COVID therapies
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Regeneron Pharmaceuticals (NASDAQ:REGN) has been awarded $326M from HHS to develop a next-generation monoclonal antibody for COVID-19 prevention.
Also, Johnson & Johnson (NYSE:JNJ) Innovation (JLABS) is getting $10M for "a competition through Blue Knight, a [Biomedical Advanced Research and Development Authority (BARDA)]-JLABS partnership."

The funding to both companies is part of HHS' Project NextGen, which awarded more than $1.4B Tuesday. The bulk of the money -- $1B -- is going to BARDA clinical trial partners to support vaccine studies. The only publicly traded contract research organization included is ICON (NASDAQ:ICLR) Government and Public Health Solutions.
Project NexGen is a $5B initiative between the federal government and the private sector to develop new COVID vaccines and treatments.

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