Regeneron Shares Soar on Strong Dupixent Results
Regeneron (REGN:US) shares are moving higher to print new record highs after the biotech giant said its Dupixent treatment met primary and secondary targets in a Phase 3 study.
Developed together with Sanofi (SNY:US), asthma and lung disorder injection demonstrated “clinically meaningful and statistically significant reduction (30%) in exacerbations compared to placebo,” the company said in a press release.
The treatment is intended for adults with uncontrolled chronic obstructive pulmonary disease (COPD).
“In this landmark Phase 3 trial, patients with uncontrolled COPD achieved clinical outcomes with Dupixent at a magnitude never before seen with a biologic. These results also validate the role type 2 inflammation plays in driving COPD in these patients, advancing the scientific community’s understanding of the underlying biology of this disease,” said George D. Yancopoulos, M.D., Ph.D., President and Chief Scientific Officer at Regeneron.
Several Wall Street analysts, including those at TD Cowen and Jefferies, project peak sales for Dupixent at $19-20 billion.
As a result, Regeneron shares are up about 8.5% this week. This way, several Congress members who invested in Regeneron are rewarded with capital gains.
Representatives Ro Khanna and Josh Gottheimer are both on record for buying REGN shares. Most recently, Mr. Khanna invested $15,000 - $50,000 in Regeneron on February 10, when the stock closed at $757.61.
Shares closed at $802.16 on Thursday.