A reason to be cautiously optimistic

Here's the latest news: European leaders restrict most inbound travel Bonds plunged on investor fears of a deluge of debt  Regulators approve human vaccine tests in China Our take on the latest developments A constant question from friends and family when covering the coronavirus is "When is a drug coming?" The answer is depressing – not for a while. Drug development can only be sped up so much. The greatest near-term hope is a repurposed Ebola drug from Gilead called remdesivir. It's shown some evidence of efficacy, and early trial data may come in April. But the antiviral takes days to infuse, and may only do its best work if delivered early in the course of an infection. A protective vaccine is likely a year to 18 months away in a best-case scenario. In that context, Tuesday's news that Tarrytown, New York-based biotech giant Regeneron is ahead of schedule on a new Covid-19 drug is pretty exciting. It may have a candidate ready for human trials by early summer and has plans to scale up manufacturing capacity rapidly. Many biotechnology companies touting potential Covid-19 treatments have never successfully developed a medicine, let alone a purpose-built one for an epidemic. Regeneron has both developed blockbusters and successfully responded to a deadly outbreak. Using proprietary mice that are bred to feature human-like immune systems, Regeneron developed an antibody cocktail that proved highly effective in preventing Ebola during a recent epidemic in the Democratic Republic of the Congo. In fact, one of the medicines it outperformed during the multi-drug trial that showed its efficacy was Gilead's remdesivir. The same team and tools are now working on Covid-19. The company wants antibodies that could serve as both prevention and active treatment, and the duality may get it to patients faster. Drugs used for prevention in healthy people face a high safety bar, but those intended for sick patients with few options have more leeway and sometimes can get quick approval.  Fancy mice and past success treating a different virus don't guarantee that Regeneron's treatment will work, let alone that the company will move as speedily as it hopes to. But in an environment where many other efforts are retreads or even more distant, Regeneron's effort is grounds for cautious optimism.--Max Nisen Track the virus   Mapping the Outbreak Around the World See the latest counts globally, and track Covid-19's spread in the U.S. What you should read The High Cost of a Long Time Inside A long period of social distancing could help halt the epidemic, but the pain could be considerable. U.S. Blood Supply Under Strain From Outbreak Social-distancing measures have caused some donors to reconsider. How China Bent Over Backward to Help Tesla  Masks, disinfectant, thermometers kept the automaker running. Coronavirus Poses 'Hugest Challenge' to NHS U.K.'s free-to-all health system braces for the strain. European Banks Get $130 Billion, Easing Stress  Lenders borrowed the bulk of the money from the ECB. Know someone else who would like this newsletter? Have them sign up here. Have any questions, concerns, or news tips on Covid-19 news? Get in touch. Like this newsletter? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Follow Us You received this message because you are subscribed to Bloomberg's Coronavirus Daily newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022