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U.S. equities were lower at midday as the market focused on the future of U.S.-China trade. The Dow Jones Industrial Average, S&P 500, and Nasdaq all lost ground.
Shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) sank nearly 19% on Friday after the company's experimental COPD drug, developed with partner Sanofi SA (ADR) (NYSE:SNY), posted mixed results in two Phase 3 trials—casting doubt on its regulatory path and delaying hopes for a major new revenue stream. The drug, itepekimab, reduced moderate or severe flare-ups by 27% compared to placebo over 52 weeks in the AERIFY-1 study, which enrolled 1,127 former smokers with chronic obstructive pulmonary disease (COPD).
Regeneron Pharmaceuticals Inc (NASDAQ: REGN) crashed more than 15% this morning on disappointing data from Phase 3 trials of its experimental drug itepekimab. Itepekimab is a drug candidate for chronic obstructive pulmonary disease (COPD) that the biotech firm developed with Paris headquartered Sanofi.
Regeneron and SNY's itepekimab meets the primary endpoint in one COPD trial but misses in another, leaving future plans under review.
U.S. stock futures were lower this morning, with the Dow futures falling around 0.1% on Friday.
Regeneron shares fell nearly 13% before the bell on Friday after its experimental drug for patients with a type of lung condition commonly called "smoker's lung" failed a late-stage trial, although it succeeded in another.
Sanofi and Regeneron said that drug candidate Itepekimab didn't meet primary endpoint in a phase three study, although a benefit was seen earlier in the trial.
Earlier this year, biotech company 23andMe filed for bankruptcy. The harsh reality was that its business, while enticing to people who wanted to learn about their backgrounds via DNA testing kits, wasn't sustainable and its losses were simply mounting.
DALLAS--(BUSINESS WIRE)-- #MaryKay--Mary Kay Inc., a global advocate for furthering young women's education and encouraging youth to follow their STEM dreams, returned for a second year as a Special Awards Organization at the Regeneron International Science and Engineering Fair (Regeneron ISEF) in Columbus, Ohio. Ten grants totaling nearly $10,000 were awarded to standout high school-aged students excelling in innovative projects spanning topics from finding cures for cancers affecting women to sustainabl.
SAN DIEGO--(BUSINESS WIRE)--Telesis Bio Inc. (OTCMKTS: TBIO), a leading provider of DNA and mRNA synthesis solutions to accelerate therapeutic discovery with fast and flexible on-site automated foundries, today announced a new license agreement with Regeneron Pharmaceuticals, Inc. to deploy Telesis Bio's revolutionary Gibson SOLA™ platform at its R&D core facilities. This will help Regeneron adopt automated, high-throughput, on-demand gene synthesis in their own labs. Using Gibson SOLA at s.