Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN)
Regeneron Pharmaceuticals, Inc. (REGN), a biopharmaceutical company on Friday reported that their drug dupilumab met its major two goals in phase 3 studies. Dupilumab is used treat atopic dermatitis. Atopic dermatitis is a severe type of eczema affecting 1.6 million americans.
Chief Scientific Officer’s Comments
“These are the first Phase 3 studies of a systemic therapy to demonstrate a significant improvement in moderate-to-severe atopic dermatitis, a chronic, debilitating inflammatory disease that impacts over one million Americans,” said George D. Yancopoulos, M.D., Ph.D., Chief Scientific Officer of Regeneron and President of Regeneron Laboratories. “These data provide strong evidence that the IL-4 and IL-13 signaling pathway is a fundamental driver of inflammation in atopic dermatitis. Dupilumab is the first in a new class of immunotherapies – in these 16 week trials, dupilumab blocked the aberrant activation of this pathway, resulting in significant efficacy without evidence of immune-suppressing side effects. We continue to evaluate the role of IL-4 and IL-13 signaling in related inflammatory conditions, including asthma and nasal polyposis, where we have ongoing dupilumab clinical development.” PR Newswire
REGN Technical Analysis
REGN gapped up in price on Friday to $373.99, up from the prior day’s close of $360.44, which is a 4% increase in price. Taking a look at the daily chart we can see that the last time REGN traded above this price level was on March 22nd when it traded at $378.31. Taking a closer look at the daily chart we can see that REGN has been on an overall decline dating back to November 18th when it traded at 587.09. REGN has a float of 76.86 million shares and is trading over 3 times the normal daily trading volume. For trading purposes, my entry point would have been $374 looking for a run to $380. My stop loss would have been $373, fearing anything below that and the stock would start to fill in the gap up.
Regeneron Pharmaceuticals, Inc., a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions worldwide. Its marketed products include EYLEA injection for the treatment of neovascular age-related macular degeneration and diabetic macular edema, as well as macular edema following retinal vein occlusion; Praluent injection, an adjunct to diet and maximally tolerated statin therapy for the treatment of adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease, who require additional lowering of low-density lipoprotein cholesterol; and ARCALYST for the treatment of cryopyrin-associated periodic syndromes, including familial cold auto-inflammatory syndrome and muckle-wells syndrome in adults and childrens. The company is also developing trap-based clinical product EYLEA for the treatment of Neovascular Glaucoma; antibody-based clinical products comprising Praluent, Sarilumab, Dupilumab, REGN2810, REGN2176-3, Fasinumab, REGN2222, Evinacumab, REGN1033, REGN1908-1909, REGN1979, and Nesvacumab/aflibercept; and ZALTRAP, an injection for intravenous infusion for the treatment of patients with metastatic colorectal cancer. It has collaborations with Sanofi, Bayer HealthCare, and Mitsubishi Tanabe Pharma Corporation for the development of antibody-based clinical based products. The company was founded in 1988 and is headquartered in Tarrytown, New York. Yahoo Finance