Regeneron Shares Plunge 19% As Mixed COPD Trial Results Raise Investor Concerns

(RTTNews) - Regeneron Pharmaceuticals, Inc. (REGN) shares plummeted 19.06 percent to $489.99, down $115.41 on Friday, after announcing mixed results from its Phase 3 trials evaluating itepekimab for chronic obstructive pulmonary disease. Regeneron is currently trading at $492.47, down sharply from its previous close of $605.39 on the Nasdaq. The stock opened at $516.00 and has traded between $492.35 and $519.78 so far today, with volume surging to 2.5 million shares. The 52-week trading range now stands at $492.35 to $1,211.20.

The AERIFY-1 trial met its primary endpoint, showing a 27 percent reduction in moderate or severe COPD exacerbations at 52 weeks in former smokers. However, the AERIFY-2 trial failed to meet the same primary endpoint, although some benefit was observed earlier in the study.