REGN

Regeneron Pharmaceuticals Azioni (NASDAQ: REGN)

Regeneron Pharmaceuticals (NASDAQ:REGN) Azioni

Regeneron Pharmaceuticals

Regeneron Pharmaceuticals Inc discovers, develops, and commercializes products that fight eye disease, cardiovascular disease, cancer, and inflammation. The company has several marketed products, including low-dose Eylea and Eylea HD, approved for wet age-related macular degeneration and other eye diseases; Dupixent in immunology; Praluent for LDL cholesterol lowering; Libtayo in oncology; and Kevzara in rheumatoid arthritis. Regeneron is also developing monoclonal and bispecific antibodies with Sanofi, other collaborators, and independently, and has earlier-stage partnerships that bring new technology to the pipeline, including RNAi (Alnylam) and Crispr-based gene editing (Intellia).

Regeneron Pharmaceuticals, Inc. - Common Stock

Regeneron Pharmaceuticals Inc

Regnum Corp

US President Donald Trump issued a multi-part executive order on Tuesday to lower drug prices and <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">reduce Medicare costs</a>.
Within 60 days, the Secretary of Health and Human Services is instructed to seek guidance for the Medicare Drug Price Negotiation Program for initial price applicability year 2028 and how drugmakers should implement the set prices in 2026, 2027, and 2028.
<ul>
<li>This guidance will focus on greater transparency, selecting high-cost drugs, and safeguarding pharmaceutical innovation.</li>
<li>Additionally, the administration seeks to eliminate a key disparity in how Medicare treats small-molecule drugs compared to biologics, discouraging investment in more affordable treatments.</li>
</ul>
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44724763/pharma-industry-faces-jitters-as-trump-hints-at-historic-tariffs-bofa-outlines-probable-timeline" rel="noreferrer noopener">Pharma Industry Faces Jitters As Trump Hints At Historic Tariffs, BofA Outlines Probable Timeline</a>
The White House is also <a target="_blank" href="https://www.whitehouse.gov/presidential-actions/2025/04/lowering-drug-prices-by-once-again-putting-americans-first/" rel="noreferrer noopener">targeting</a> the rising costs seniors face under Medicare. A new payment model will be tested within a year to obtain better value for high-cost drugs and biologicals, including those not subject to price negotiations.
Further, the administration wants to align Medicare payments with actual hospital acquisition costs through a national survey, with potential reimbursement adjustments following the results.
To reform Medicaid drug pricing, the administration will develop recommendations linking drug payments to their value and ensuring accurate rebate payments from manufacturers. The initiative also aims to assist states in managing spending while promoting innovation in Medicaid reimbursement.
Affordability for life-saving medications is another key focus: Community health centers will be required to offer insulin and epinephrine at or below discounted 340B prices to low-income individuals with high out-of-pocket costs or no insurance, with compliance tied to eligibility for future federal grants..
To address price manipulation in the supply chain, the administration calls for reevaluating middlemen roles, such as pharmacy benefit managers, and seeking transparency in their compensation structures. Within 90 days, recommendations to promote a more efficient pharmaceutical market are expected.
Other planned reforms include accelerating FDA approvals for generics and over-the-counter conversions, streamlining the drug importation program, and ensuring Medicare payments do not incentivize hospital-based care over less costly physician offices.
Lastly, federal agencies will investigate anti-competitive practices by drug manufacturers, with public listening sessions and policy recommendations expected within six months.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44826592/netflix-wants-to-be-the-next-1-trillion-company-analyst-highlights-growth-path" target="_blank" rel="noreferrer noopener">Netflix Wants To Be The Next $1 Trillion Company, Analyst Highlights Growth Path</a></li>
</ul>
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Trump's New Order Targets Drug Pricing Transparency And Medicare Cost Reduction

<a target="_blank" href="https://www.benzinga.com/quote/SNY" rel="noreferrer noopener">Sanofi SA</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) on Tuesday shared progress from its mid- to <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">late-stage respiratory pipeline</a>.
The French drug maker <a href="https://www.sanofi.com/en/media-room/press-releases/2025/2025-04-15-05-00-00-3061368" target="_blank" rel="noreferrer noopener">reported</a> preliminary results from the TIDE-Asthma phase 2 study of amlitelimab and its efficacy in heterogeneous inflammatory asthma. Here&#8217;s what we know: 
<ul>
<li>The primary endpoint of the annualized exacerbation rate at week 48 was not met at the highest dose level, leading to nominal significance at the medium and low doses.</li>
<li>Treatment with amlitelimab led to nominally significant and clinically meaningful reductions in asthma exacerbations at the medium dose tested and a numerically greater reduction in exacerbations at the high dose at week 60.</li>
<li>A nominally significant and clinically meaningful improvement in secondary endpoints of lung function and asthma control was evident.</li>
<li>In a patient subgroup, amlitelimab showed nominally significant and clinically meaningful improvements in exacerbations (with a reduction of more than 70%), lung function, and asthma control at week 60.</li>
<li>The phase 3 program is currently being planned.</li>
<li>In the TIDE-Asthma study, patients were treated every four weeks for the first 24 weeks and every 12 weeks for the remaining 36 weeks. Amlitelimab&#8217;s durable efficacy through 60 weeks of treatment supports a quarterly maintenance dosing schedule.</li>
<li>The safety profile was consistent with previous studies across indications, with no new safety signals identified throughout the 60-week treatment period.</li>
</ul>
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44724763/pharma-industry-faces-jitters-as-trump-hints-at-historic-tariffs-bofa-outlines-probable-timeline" rel="noreferrer noopener">Pharma Industry Faces Jitters As Trump Hints At Historic Tariffs, BofA Outlines Probable Timeline</a>
Separately, Sanofi said lunsekimig is being explored in a broad population of asthma patients, regardless of their inflammation and severity status.
<ul>
<li>The readout of the AIRCULES phase 2 study in moderate to severe asthma is anticipated in 2026 </li>
<li>The AIRLYMPUS phase 2 study in high-risk asthma was initiated in Q4 2024.</li>
<li>The readout of the phase 2 study in patients with chronic rhinosinusitis with nasal polyps is anticipated in 2026.</li>
<li>A phase 2/3 study in chronic obstructive pulmonary disease (COPD) will begin in 2025.</li>
</ul>
In partnership with Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), two phase 3 studies were initiated so far this year.
Itepekimab is currently being explored in COPD in two phase 3 studies, AERIFY-1 and AERIFY-2, with the readout anticipated in H2 2025, and in one phase 2 study, AERIFY-3, with the readout anticipated in H2 2025.
Finally, itepekimab is being explored in a phase 2 study in bronchiectasis, with the readout anticipated in 2026.
In May 2024, Sanofi <a target="_blank" href="https://www.sanofi.com/en/media-room/press-releases/2024/2024-05-22-17-15-00-2886776?tblci=GiCUX7wvU_AgmIIiQduNYr6JQuJQLy6SZJGvpyeZuCzyqiCN1VcoxvTN4f7-y-PqATDviEo" rel="noreferrer noopener">reported</a> results from the Phase 2 study of oral&nbsp;rilzabrutinib&nbsp;in adult patients with uncontrolled moderate-to-severe asthma.
Two doses of&nbsp;rilzabrutinib, 800 mg daily and 1200 mg <a target="_blank" href="https://www.benzinga.com/news/24/05/38970663/first-advanced-oral-treatment-for-asthma-sanofis-investigational-drug-shows-potential" rel="noreferrer noopener">daily, were studied</a>.
The data showed that treatment with oral&nbsp;rilzabrutinib&nbsp;at both high and low doses led to a numerical reduction in loss of asthma control (LOAC) events (the primary endpoint) and improvements in symptoms in adult patients with uncontrolled moderate-to-severe asthma.&nbsp;
Price Action: SNY stock is down 1.33% at $51.15 at the last check Tuesday.
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<li><a href="https://www.benzinga.com/media/25/04/44819954/apple-plans-on-device-ai-data-analysis-to-boost-privacy-catch-up-in-ai-race" target="_blank" rel="noreferrer noopener">Apple Plans On-Device AI Data Analysis To Boost Privacy, Catch Up In AI Race</a></li>
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Sanofi Asthma Drug Misses Primary Goal, Plans For Pivotal Study

Goldman Sachs analyst Salveen Richter maintains Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) with a Buy and lowers the price target from $1019 to $917.

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Goldman Sachs Maintains Buy on Regeneron Pharmaceuticals, Lowers Price Target to $917

Even as President Donald Trump paused the reciprocal tariffs for 90 days on Wednesday, he later confirmed in a conversation with reporters at his Oval Office that pharmaceutical companies would face tariffs.
What Happened: The rally in pharma stocks was short-lived after the stocks reversed course on Thursday. When a reporter asked President Trump if he would go ahead and levy tariff duties on pharmaceutical stocks, he said, &#8220;Yeah, well, I will be because we want them coming back.&#8221;
&#8220;You know, we realized during COVID-19 that we don&#8217;t make our drugs and our pharmaceuticals in this country. So, I realized that, and it was a big realization,&#8221; he added.
Citing the emergency during COVID-19, he stated that he wanted the pharma companies to produce drugs in the U.S.
&#8220;We had to go to China to get drugs, we had to go to other places, we don&#8217;t make it. That&#8217;s because we let them leave, and now if they want to come back, we&#8217;re going to put tariffs on the pharmaceutical companies, and they&#8217;re going to all want to come back,&#8221; Trump said.
The pharma stocks tumbled on Thursday after Trump&#8217;s confirmation of tariffs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>-4.35%</td>
<td>-7.35%</td>
<td>-5.09%</td>
</tr>
<tr>
<td>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</td>
<td>-3.14%</td>
<td>-2.92%</td>
<td>3.99%</td>
</tr>
<tr>
<td>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>-6.10%</td>
<td>-11.15%</td>
<td>2.73%</td>
</tr>
<tr>
<td>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>-5.26%</td>
<td>-23.60%</td>
<td>-40.63%</td>
</tr>
<tr>
<td>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</td>
<td>-3.87%</td>
<td>-18.87%</td>
<td>-18.03%</td>
</tr>
<tr>
<td>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</td>
<td>-3.66%</td>
<td>10.36%</td>
<td>47.71%</td>
</tr>
<tr>
<td>Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td>-5.32%</td>
<td>-21.80%</td>
<td>-38.53%</td>
</tr>
<tr>
<td>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>-3.33%</td>
<td>8.54%</td>
<td>4.23%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>-1.51%</td>
<td>3.24%</td>
<td>-0.07%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44755181/pentagon-slashes-5-1-billion-in-accenture-deloitte-booz-allen-contracts-thats-a-lot-of-consulting">Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: &#8216;That&#8217;s A Lot Of Consulting&#8217;</a>
Why It Matters: Despite a 90-day pause on reciprocal tariffs, base global tariffs of 10% and China tariffs of 125%, along with sector-specific tariffs of 25% on steel and aluminum, auto, and auto parts remain in place. Adding to it, the President hinted that he could soon announce tariffs on pharmaceutical companies.
Here are some of the pharmaceutical industry-linked exchange-traded funds that could be impacted.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-7.02%</td>
<td>-7.51%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-7.04%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-10.13%</td>
<td>-4.37%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-14.05%</td>
<td>-11.45%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>2.88%</td>
<td>0.35%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-11.54%</td>
<td>-10.18%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-41.35%</td>
<td>-43.86%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: After Thursday&#8217;s fall, following Wednesday&#8217;s rebound, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Thursday. The SPY was down 4.38% to $524.58, while the QQQ declined 4.25% to $446.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members" target="_blank" rel="noreferrer noopener">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>
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Eli Lilly, AbbVie, Bristol Myers, Regeneron, And Other Pharma Companies Slide As Donald Trump Confirms Tariffs On Pharma Companies

U.S.&nbsp;President Donald Trump, on Tuesday, disclosed plans for a "major tariff" on <a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">foreign pharmaceuticals</a>.
"We're&nbsp;going to be announcing very&nbsp;shortly a major tariff on&nbsp;pharmaceuticals… when they hear that&nbsp;they will leave China, they&nbsp;will leave other places because… most of their product&nbsp;is sold here," Trump expressed at&nbsp;a National Republican <a target="_blank" href="https://www.benzinga.com/25/04/44708204/trump-hints-at-major-tariff-on-imported-pharmaceuticals-us-pharma-stocks-tumble-in-wednesday-pre-market" rel="noreferrer noopener">Congressional Committee&nbsp;dinner</a>.
He also told reporters on board his Air Force One plane that "pharma" tariffs would arrive "at a level that you haven't really seen before," saying these would be announced "in the near future," BBC <a target="_blank" href="https://www.bbc.com/news/articles/cedyylj1v32o" rel="noreferrer noopener">report</a> added.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44698325/trump-tariff-strategy-self-inflicted-market-debacle-says-wedbush-analyst" rel="noreferrer noopener">Trump Tariff Strategy Creates ‘Self-Inflicted Market Debacle': Analyst</a>
When President Trump announced tariffs last week, he excluded pharmaceuticals from the new tariffs, likely a relief for the industry under pressure following his prior comments suggesting a 25% tariff&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/44652075/us-tariffs-spare-drugmakers-but-threaten-diabetes-device-industry" rel="noreferrer noopener">on pharmaceutical imports</a>.&nbsp;
On Wednesday, in a surprise announcement from President Donald Trump, a 90-day pause on tariffs for countries that have not retaliated <a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">against U.S. trade measures.</a>
The news ignited a broad risk-on rally, catapulting major indices to multi-month highs and sending volatility plunging.
Trump's latest Truth Social post slammed China for showing "a lack of respect" and declared an immediate 125% tariff hike on Chinese goods.
"At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A. and other Countries is no longer sustainable or acceptable," he said.
He praised the over 75 countries that, in his words, "have not, at my strong suggestion, retaliated in any way, shape, or form."
As a reward, those countries would benefit from a temporary 10% reciprocal tariff and a 90-day pause on additional duties.
The biopharma industry has historically been shielded from tariffs, including during Trump's first term.
Although Trump didn't provide many details, his remarks have unsettled buyers, especially those who depend on medicines from India. India provides nearly half of all generic drugs used in the U.S., helping cut billions from healthcare costs.
The U.S. is a major market, buying about a third of India's $13 billion in yearly drug exports.
Indian drug companies warn that if tariffs are added, they'd have to raise prices—which could increase healthcare costs in the U.S.
Even though some companies like Cipla and Dr. Reddy's Laboratories Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) have factories in the U.S., most say it's too expensive to move production for low-profit generic drugs.
BofA Securities analyst says if the Trump administration plans to impose tariffs on the pharmaceutical industry, it would likely do so through a "Section 232 investigation" under the Trade Expansion Act of 1962 to determine whether importing certain goods threatens national security.
The typical timeline for a Section 232 investigation is about a year. If the same timeline applied here, tariffs on drug imports likely wouldn't take effect until late in the year—at the earliest.
It's unclear whether the Section 232 investigation into the drug industry is about to start, but based on recent comments from the administration, it seems possible. However, launching an investigation doesn't guarantee that tariffs will follow.
As the first quarter 2025 earnings season starts soon, analyst Tim Anderson says it will be worth watching whether companies discuss potential tariffs during earnings calls.
That said, any actual earnings impact likely wouldn't show up until sometime after 2025, which could leave investors with more questions than answers.
Wedbush analyst Daniel Ives <a target="_blank" href="https://www.benzinga.com/25/04/44698325/trump-tariff-strategy-self-inflicted-market-debacle-says-wedbush-analyst" rel="noreferrer noopener">on Tuesday wrote</a> that "saying we can just make this in the USA" understates how complex the supply chain in Asia really is—and how electronics, chips, semiconductors, hardware, and smartphones have been built for U.S. consumers over the past 30 years."
Shares of major drugmakers such as Gilead Sciences&nbsp;Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Merck&nbsp;&amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Eli Lilly&nbsp;And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), AstraZeneca&nbsp;Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Roche&nbsp;Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>), Sanofi&nbsp;SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Novartis&nbsp;AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), Argenx&nbsp;SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>), UCB&nbsp;SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UCBJY#OTC">UCBJY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UCBJF#OTC">UCBJF</a>), Novo Nordisk&nbsp;A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) GSK Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) fell on Wednesday, only reverse course later after the 90-day tariff pause.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44723376/goldman-sachs-scraps-recession-call-after-trumps-surprise-tariff-pause-as-wall-street-marks-strongest-day-since-2008" target="_blank" rel="noreferrer noopener">Goldman Sachs Scraps Recession Call After Trump's Surprise Tariff Pause As Wall Street Marks Strongest Day Since 2008</a></li>
</ul>
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Pharma Industry Faces Jitters As Trump Hints At Historic Tariffs, BofA Outlines Probable Timeline

Regeneron Pharmaceuticals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NYSE">REGN</a>) short percent of float has risen 26.83% since its last report. The company recently reported that it has 3.25 million shares sold short, which is 3.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.15 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Regeneron Pharmaceuticals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1744214430_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Regeneron Pharmaceuticals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Regeneron Pharmaceuticals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Regeneron Pharmaceuticals's peer group average for short interest as a percentage of float is 6.48%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Is Regeneron Pharmaceuticals Gaining or Losing Market Support?

Several exemptions exist among President Donald Trump&#8216;s <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted" target="_blank" rel="noopener">broad tariffs</a>, which were announced on Wednesday. 
The biopharma industry has historically been shielded from tariffs, including during Trump&#8217;s first term. Given its significant manufacturing presence in Europe, investors had feared global tariffs could disrupt the sector.
Morningstar <a href="https://www.morningstar.com/stocks/biopharma-industry-exempt-global-10-tariff-we-still-see-margin-tax-rate-risks" target="_blank" rel="noopener">reports</a> that with the U.S. importing approximately $200 billion in pharmaceuticals in 2024, a 10% tariff could have cost the industry $20 billion, with some of the largest firms facing annual tariffs of up to $1 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44642463/french-president-macron-suggests-suspension-of-eu-investments-in-us-amid-tariff-turmoil" rel="noreferrer noopener">French President Macron Suggests Suspension Of EU Investments In US Amid Tariff Turmoil, Vows &#8216;More Powerful&#8217; Response</a>
Goldman Sachs expects continued volatility in the biotechnology sector (XBI and S&amp;P 500 are down about 14% and 7% year-to-date, respectively), driven by broader economic <a target="_blank" href="https://www.benzinga.com/news/global/25/04/44631606/trumps-tariff-exemptions-include-semiconductors-pharmaceuticals-oil-and-more" rel="noreferrer noopener">uncertainty and unclear healthcare policy</a>.
Analyst Salveen Richter has analyzed geographic exposure and tax rates for individual companies and sees Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) and Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) in the strongest position, followed by Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) and Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>).
Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) raises some concerns due to its significant presence in Ireland. If tariffs are applied, they would likely increase the cost of goods sold since companies often import ingredients or finished products into the U.S.
Analyst Richter adds that <a target="_blank" href="https://www.benzinga.com/quote/AMGN" rel="noreferrer noopener">Amgen</a>, <a target="_blank" href="https://www.benzinga.com/quote/ALNY" rel="noreferrer noopener">Alnylam</a>, <a target="_blank" href="https://www.benzinga.com/quote/BIIB" rel="noreferrer noopener">Biogen</a>, and <a target="_blank" href="https://www.benzinga.com/quote/REGN" rel="noreferrer noopener">Regeneron</a> are the least exposed to Medicaid risk.
Goldman Sachs said Friday that it&#8217;s been hard to measure the exact impact of potential tariffs on U.S. biopharma due to limited public data on where drugs are made.
Their analysis shows limited manufacturing exposure to Canada, Mexico and China. Pharmaceuticals from Canada and Mexico are also likely exempt under the USMCA trade deal. However, some companies do rely heavily on manufacturing in the EU.
If tariffs are placed on drugs made outside the U.S. and kept in place, they could raise manufacturing costs. Companies often import ingredients or finished products before selling them in the U.S. Some manufacturers are reportedly speeding up shipments from Europe out of concern that tariffs may apply to <a href="https://www.benzinga.com/general/biotech/25/03/44440233/pharmaceutical-firms-say-uk-investment-is-unlikely-unless-payment-levy-is-adressed" target="_blank" rel="noopener">those products,</a><a href="https://www.benzinga.com/general/biotech/25/03/44440233/pharmaceutical-firms-say-uk-investment-is-unlikely-unless-payment-levy-is-adressed" target="_blank" rel="noreferrer noopener"> too</a>.
Goldman Sachs is also watching for exceptions or phased rollouts, pointing to a similar eight-year grace period in the Biosecure Act.
Still, the analyst writes that biopharma companies are generally resilient due to their high profit margins and globally spread operations.
Companies that produce small-molecule drugs might handle a U.S. manufacturing shift better than those making biologics since small molecules require less complex production.
Senator Ron Wyden has raised concerns about Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) using offshore setups to reduce U.S. taxes.
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</ul>
Photo: Shutterstock

ALNY

Vertex, Alnylam Best Positioned As Biopharma Braces For Tariff Impact, Goldman Sachs Flags Regeneron, Biogen Risks

JP Morgan analyst Chris Schott maintains Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) with a Overweight and lowers the price target from $1100 to $1000.

JP Morgan Maintains Overweight on Regeneron Pharmaceuticals, Lowers Price Target to $1000

Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) has outperformed the market over the past 20 years by 19.83% on an annualized basis producing an average annual return of 27.91%. Currently, Regeneron Pharmaceuticals has a market capitalization of $70.19 billion. 
Buying $1000 In REGN: If an investor had bought $1000 of REGN stock 20 years ago, it would be worth $130,880.12 today based on a price of $638.70 for REGN at the time of writing.
<h3>Regeneron Pharmaceuticals's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743177619_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth This Much Today

Sensei Biotherapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSE#NASDAQ">SNSE</a>) late Thursday released initial results from the dose expansion portion of its Phase 1/2 trial evaluating solnerstotug (formerly SNS-101) for cancer.
The Phase 1 dose expansion trial is evaluating solnerstotug as monotherapy and in combination with Regeneron Pharmaceuticals Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Libtayo (cemiplimab) in both a basket of &#8220;hot&#8221; tumors that typically respond to immunotherapy but have progressed on prior PD-(L)1 therapy and a single &#8220;cold&#8221; tumor histology (microsatellite stable (MSS) Colorectal Cancer (CRC) that is typically <a href="https://www.benzinga.com/pressreleases/25/03/g44523662/sensei-biotherapeutics-reports-favorable-preliminary-dose-expansion-data-for-solnerstotug-in-pd-l-" target="_blank" rel="noreferrer noopener">unresponsive to immunotherapy</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/03/44535565/penny-stock-lexicon-pharmaceuticals-surges-on-obesity-pact-worth-1-billion-with-novo-nordisk" rel="noreferrer noopener">Penny Stock Lexicon Pharmaceuticals Surges On Obesity Pact Worth $1 Billion With Novo Nordisk</a>
As of March 17, the study has enrolled 60 patients. Key findings include:
<ul>
<li>Among 21 evaluable PD-(L)1 resistant &#8220;hot&#8221; tumor patients, the combination of solnerstotug + cemiplimab demonstrated a 14% ORR (overall response rate), which is almost 3x higher than historical PD-(L)1 rechallenge response rates (≤5%), and a 62% DCR (disease control rate), suggesting meaningful disease <a href="https://www.benzinga.com/pressreleases/25/03/g44533399/sensei-biotherapeutics-reports-full-year-2024-financial-results-and-update-on-clinical-progress" target="_blank" rel="noreferrer noopener">control in resistant tumors</a>.</li>
<li>One durable complete response in a patient with Merkel Cell Carcinoma (MCC).</li>
<li>Two partial responses (PRs): one in a second MCC patient and one in a microsatellite instability-high (MSI-H) CRC patient.</li>
<li>All patients with tumor shrinkage remain on treatment, suggesting&nbsp;potential for prolonged clinical benefit.</li>
<li>An additional 11 patients have not yet reached the first baseline scan, and an additional eight patients discontinued the study before any post-baseline scan.</li>
<li>All patients in this cohort had progressed on prior PD-(L)1.</li>
</ul>
Six PD-(L)1 resistant patients with stable disease remain on treatment past 12+ weeks, with tumor reductions ranging from 0% to 17%, suggesting durable disease control in a subset of patients.
All PD-(L)1 resistant patients on the study with tumor shrinkage remain on treatment, suggesting&nbsp;the potential for prolonged benefit.
None of the MSS CRC patients experienced a CR or PR, consistent with prior checkpoint therapy in this &#8220;cold&#8221; tumor type.
Solnerstotug continues to be&nbsp;well tolerated, with&nbsp;no dose-limiting toxicities and the majority of AEs Grade 1 or 2 in severity.
Out of 60 patients, there have been four (7%) cases of Grade 1 cytokine release syndrome (CRS), all&nbsp;mild and manageable. Two patients in the combination cohort experienced immune-mediated events.
Price Action: SNSE stock is up 32.31% at $0.57 at the last check Friday.
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</ul>
Image via Shutterstock

SNSE

Sensei Biotherapeutics Reports Favorable Initial Clinical Activity Data For Solnerstotug In Resistant Tumors

Following recent approvals in the EU, China and the U.S., this approval was based on pivotal Phase 3 results in adults with elevated eosinophils
Approval marks the first new treatment approach for COPD in more than a decade in Japan and the sixth approved indication for chronic diseases with underlying type 2 inflammation

Regeneron And Sanofi's Dupixent Receives Japan's First Biologic Approval For Patients With Chronic Obstructive Pulmonary Disease (COPD)

Unity Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBX#NASDAQ">UBX</a>) stock plummeted on Monday after the company released results <a href="https://www.benzinga.com/general/health-care">from its latest study</a>. 
The Phase 2b ASPIRE clinical trial of intravitreal UBX1325 involed patients with diabetic macular edema (DME) who had poor vision despite prior anti-VEGF treatment.
The study results include data from all patients through 24 weeks and most <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/g44454592/unity-biotechnology-announces-topline-results-from-the-aspire-phase-2b-study-in-diabetic-macular-e" rel="noreferrer noopener">patients through 36 weeks</a>.
UBX1325 treatment led to visual acuity gains of over 5 letters from baseline at weeks 24 and 36 and achieved non-inferiority to Regeneraon Pharmaceuticals Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NYSE">REGN</a>) Eylea (aflibercept) at 9 out of 10-time points through 36 weeks.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/03/44458175/ge-aerospace-opens-xeos-facility-to-power-up-leap-engine-overhauls-details" rel="noreferrer noopener">GE Aerospace Opens XEOS Facility To Power Up LEAP Engine Overhauls: Details</a>
<ul>
<li>UBX1325-treated patients had a mean change in BCVA of +5.2 ETDRS letters from baseline to 24 weeks, representing a difference of +0.4 ETDRS letters compared to the aflibercept arm.</li>
<li>UBX1325-treated patients had a mean change in BCVA of +5.5 ETDRS letters from baseline to 36 weeks, representing a difference of +0.2 ETDRS letters compared to the aflibercept arm.</li>
<li>UBX1325 was non-inferior to aflibercept at all time points through 36 weeks, except for the average of weeks 20 and 24</li>
<li>Patients on UBX1325 had an increase in Central Subfield Thickness (CST) at weeks 16 and 20, which resulted in supplemental anti-VEGF treatments in patients with significant CST gain.</li>
<li>UBX1325 generally outperformed aflibercept in patients who had moderate disease severity (baseline CST &lt; 400 microns, representing ~60% of study patients) (pre-specified analysis)</li>
<li>Patients who switched from aflibercept as their anti-VEGF treatment before study enrollment to UBX1325 had the most consistent and durable vision gains (pre-specified analysis)</li>
</ul>
UBX1325 continues to demonstrate a favorable safety and tolerability profile.
Unity anticipates the complete 36-week data results of the remaining patients in the second quarter of 2025.
As of December 31, 2024, cash, cash equivalents, and marketable securities totaled $23.2 million, sufficient to fund operations <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/g44205332/unity-biotechnology-inc-reports-fourth-quarter-and-full-year-2024-financial-results-and-business-u" rel="noreferrer noopener">into the fourth quarter of 2025</a>.
Price Action: UBX stock is down 34.8% at $1.19 at the last check Monday.
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Unity Biotechnology Unveils Mixed Data From Study For Diabetes-Related Blindness, Stock Falls

On Monday, Opthea Limited&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPT#NASDAQ">OPT</a>) released results from its global Phase 3 clinical trial COAST in patients with wet age-related <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">macular degeneration (wet AMD)</a>.
The trial evaluated the efficacy and safety of intravitreally administered 2 mg sozinibercept every four or eight weeks in combination with 2 mg Regeneron Pharmaceuticals Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Eylea (aflibercept), as per label, every eight weeks after a loading phase for wet AMD.
The trial did not meet its primary endpoint of mean change in best corrected visual acuity (BCVA) <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/g44451744/opthea-announces-coast-phase-3-trial-topline-results" rel="noreferrer noopener">from baseline to week 52</a>.
In wet AMD patients with minimally classic and occult lesions, participants receiving sozinibercept combination therapy with a dosing regimen of every four weeks (n=296) or every eight weeks (n=297) achieved a mean change in BCVA of 13.2 or 13.2 letters from baseline to week 52, respectively, versus 13.8 letters with aflibercept monotherapy (n=299, p-values of 0.59 and 0.62 respectively).
In the overall population, participants receiving sozinibercept combination therapy with a dosing regimen of every four weeks (n=333) or every eight weeks (n=330) achieved a mean change in BCVA of 13.5 and 12.8 letters from baseline to week 52, respectively, versus 13.7 letters with aflibercept monotherapy (n=330, p-values of 0.86 and 0.42 respectively).
No numerical difference was observed in the key secondary endpoints. Sozinibercept combination therapy was well tolerated.
After the negative results from the COAST trial, Opthea is reviewing its obligations under its Development Funding Agreement (DFA) with investors.
Based on the terms of the DFA, the company may be required to make payments that could significantly impact its financial stability. Opthea could owe investors between $0 and $680 million if the agreement is terminated, depending on the circumstances.
Opthea&#8217;s leadership is actively discussing with DFA investors to explore possible solutions.
The DFA investors also hold a lien on all of Opthea&#8217;s assets, meaning the company cannot take on additional debt or sell key assets without their approval.
No decisions have been made regarding the COAST trial or whether to accelerate and unmask the ShORe trial. Discussions with DFA investors are ongoing to determine the best path forward.
As of February 28, 2025, Opthea had $113.8 million in cash and equivalents. However, there is significant uncertainty about the company&#8217;s ability to continue operating.
Opthea has requested that trading be suspended on both ASX and Nasdaq until Opthea is in a position to provide an announcement to the market by Opthea providing more clarity on these issues or the commencement of trading on March 31,&nbsp;2025.
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</ul>

Opthea Phase 3 Trial Fails To Meet Primary Endpoint, Faces Financial Uncertainty

In the current session, Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) is trading at $672.39, after a 0.89% decrease. Over the past month, the stock decreased by 0.97%, and in the past year, by 30.36%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2025/1742312723_0.png" alt="Past Year Chart" />

<h3>How Does Regeneron Pharmaceuticals P/E Compare to Other Companies?</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 82.7 in the Biotechnology industry, Regeneron Pharmaceuticals Inc. has a lower P/E ratio of 17.69. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1742312723_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Price Over Earnings Overview: Regeneron Pharmaceuticals

WIIM

Regeneron Pharmaceuticals shares are trading lower after the Federal Circuit affirmed the denial of the company's motion in the preliminary injunction for Regeneron Pharmaceuticals V. Amgen regarding patent infringement for Eylea.

Legal

UPDATE: Federal Circuit Affirms Denial Of Preliminary Injunction In Regeneron Pharmaceuticals V. Amgen, Upholding District Court's Finding Of No Likelihood Of Success On Patent Infringement Of U.S. Patent 11,084,865 Covering Eylea

Rumors

Watching Regeneron Pharmaceuticals, Amgen; Traders Circulate Unconfirmed Rumor That Regeneron Pharmaceuticals Court Loss Against Amgen Affirmed On Appeal, Amgen Can Continue Selling Eylea Biosimilar

Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) has outperformed the market over the past 20 years by 19.54% on an annualized basis producing an average annual return of 27.57%. Currently, Regeneron Pharmaceuticals has a market capitalization of $78.92 billion. 
Buying $1000 In REGN: If an investor had bought $1000 of REGN stock 20 years ago, it would be worth $134,486.89 today based on a price of $718.16 for REGN at the time of writing.
<h3>Regeneron Pharmaceuticals's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1741732212_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have This Much Today

On Saturday, Amgen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) and Kyowa Kirin Co., Ltd. <a href="https://www.benzinga.com/general/biotech">announced new results</a> from the ongoing ROCKET Phase 3 trial program rocatinlimab in moderate to severe atopic dermatitis (AD).
The IGNITE study evaluated two dose strengths of rocatinlimab and met its co-primary endpoints and all key secondary<a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44208802/amgen-and-kyowa-kirin-provide-top-line-results-from-rocatinlimab-phase-3-ignite-study-in-adults-wi" rel="noreferrer noopener"> endpoints versus placebo</a>.
<ul>
<li>At week 24, 42.3% of patients in the higher dose group achieved ≥75% reduction from baseline in Eczema Area and Severity Index score (EASI-75), a 29.5% difference vs. placebo, and 36.3% vs. 23.4% in the lower dose group.</li>
<li>In the higher dose group, 23.6% of patients achieved a validated Investigator&#8217;s Global Assessment for Atopic Dermatitis score of 0 (clear) or 1 (almost clear) with a ≥2-point reduction from baseline (vIGA-AD 0/1) at week 24, representing a 14.9% difference vs. placebo.</li>
<li>In the lower dose group, 19.1% of patients achieved this endpoint, a 10.3% difference vs. placebo.</li>
</ul>
Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44159237/amgen-challenges-novo-nordisk-and-eli-lilly-as-its-monthly-weight-loss-drug-maritide-enters-two-late-stage-trials" rel="noreferrer noopener">Amgen Challenges Novo Nordisk&#8217;s Ozempic And Eli Lilly&#8217;s Zepbound As Its Monthly Weight Loss Drug MariTide Enters Two Late-Stage Trials</a>
In addition, IGNITE met the endpoint of the revised Investigator&#8217;s Global (rIGA) Assessment score of 0/1 with a ≥2-point reduction from baseline.
<ul>
<li>At week 24, 22.7% of patients in the higher dose group achieved this endpoint, a 14.4% difference vs. placebo.</li>
<li>In the lower dose group, 16.3% of patients achieved this endpoint, an 8.0% difference vs. placebo.</li>
</ul>
The ROCKET program is also informed by the results of the SHUTTLE and VOYAGER studies.
<ul>
<li>The SHUTTLE study evaluated two dose strengths of rocatinlimab in combination with topical corticosteroids (TCS) and/or topical calcineurin inhibitors (TCI) in 746 adults using the same co-primary endpoints as IGNITE. The study met its co-primary and all key secondary endpoints.
<ul>
<li>For EASI-75, 52.3% of patients in SHUTTLE&#8217;s higher dose group achieved the endpoint, a 28.7% difference vs. placebo, while 54.1% of patients in the lower dose group achieved the endpoint, a 30.4% difference vs. placebo.</li>
<li>For vIGA-AD 0/1, 26.1% of SHUTTLE patients in the higher dose group achieved the endpoint, a 13.8% difference vs. placebo. In the lower dose group: 25.8% vs. 13.5%.</li>
<li>For rIGA 0/1, 23.3% of SHUTTLE patients in the higher dose group achieved the endpoint, an 11.5% difference vs. placebo and 22.7% vs. 10.9% in the lower dose group.</li>
</ul>
</li>
</ul>
The VOYAGER study demonstrated that rocatinlimab does not interfere with responses to tetanus and meningococcal vaccinations.
William Blair writes rocatinlimab results validate the OX40 mechanism, likely supporting a moderate commercial opportunity for patients after Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) and Regeneron Pharmaceutical Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Dupixent and Eli Lilly &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Ebglyss.
Price Action: AMGN stock is up 2.4% at $332.90 at last check Monday.
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Photo: Shutterstock

Amgen And Kyowa Kirin's Rocatinlimab Reduces Eczema Severity In Phase 3 Study

On Friday, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) released new results from Ebglyss&#8217;s (lebrikizumab-lbkz) <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">long-term study, ADjoin</a>.
New data shows Ebglyss achieved deep and sustained response for patients with moderate-to-severe atopic dermatitis (eczema) <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44189249/lillys-ebglyss-lebrikizumab-lbkz-single-monthly-maintenance-injection-achieved-completely-clear-sk" rel="noreferrer noopener">at three years</a>.
Ebglyss was approved in the U.S. in&nbsp;September 2024&nbsp;as a first-line monotherapy biologic treatment option following <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40884197/eli-lilly-scores-fda-approval-for-eczema-treatment-ebglyss" rel="noreferrer noopener">topical prescription therapies</a>.
Of the patients who responded to treatment at Week 16 and received once-monthly maintenance dosing, 50% achieved complete skin clearance (EASI 100 or IGA 0) at three years.
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Additionally, 87% achieved or maintained almost-clear skin (EASI 90) at three years.
Over 83% of Week 16 responders taking EBGLYSS did not require concomitant therapies such as topical corticosteroids (TCS) or topical calcineurin inhibitors (TCI) for the duration of the ADjoin study.
Additional study assessments conducted in patients with skin of color (<a target="_blank" href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4376941-1&amp;h=4271923845&amp;u=https%3A%2F%2Flilly.mediaroom.com%2F2024-03-10-More-than-two-thirds-of-people-with-atopic-dermatitis-and-skin-of-color-experienced-skin-improvement-in-a-first-of-its-kind-lebrikizumab-study&amp;a=ADmirable" rel="noreferrer noopener">ADmirable</a>) and patients who were previously treated with Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) / Sanofi SA&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) Dupixent (dupilumab) (<a target="_blank" href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4376941-1&amp;h=695585820&amp;u=https%3A%2F%2Flilly.mediaroom.com%2F2024-10-25-Lillys-EBGLYSS-TM-lebrikizumab-lbkz-demonstrated-meaningful-improvement-in-skin-clearance-and-itch-relief-in-the-majority-of-patients-with-moderate-to-severe-atopic-dermatitis-who-discontinued-dupilumab&amp;a=ADapt" rel="noreferrer noopener">ADapt</a>) showed improvements in itch, skin pain (discomfort and soreness), and itch interference with sleep.
<ul>
<li>In ADmirable, nearly 60% of patients achieved significant improvement in itch and skin pain at Week 16 (58% and 59%, respectively). Over 30% of patients saw a reduction in sleep loss due to itch at Week 16.</li>
<li>In ADapt, 75% achieved significant improvement in skin pain, and 62% achieved significant improvement in itch at Week 24. 42% of patients saw a reduction in sleep loss <a href="https://www.benzinga.com/general/biotech/24/10/41553086/eli-lillys-newly-fda-approved-eczema-drug-improves-skin-and-itch-in-patients-previously-treated-w" target="_blank" rel="noreferrer noopener">due to itch at Week 24</a>.</li>
</ul>
Price Action: LLY stock is down 0.36% at $909.50 during the premarket session at the last check Friday.
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Photo by Jonathan Weiss via Shutterstock

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