Regeneron (REGN): Ready To Go On Approval Of Dupilumab BLA - RBC
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RBC Capital analyst, Adnan Butt, reiterated his Outperform rating on shares of Regeneron Pharma (NASDAQ: REGN) with the PDUFA expected March 29th. The analyst believes that REGN/SNY will trade up upon approval. The analyst believes expectations are for a strong launch given a compelling case for unmet need where patients have a quality of life worse than in psoriasis (constant itching, disturbed sleep, depression/ suicidal ideation) and no competitor options near-term.
SOLO 1 and 2 showed clinically and statistically significant improvements in patients with severe atopic dermatitis with placebo adjusted improvements of 27-28% in IGA 0 or 1 and 32-38% in EASI-75 (75% reduction in eczema and severity). Placebo corrected change from baseline in pruritus was 23-33% and EASI 34-38%. Quality of life measures such as DLQI, POEM, and HADS-A and D also showed absolute improvements over placebo ranging from 28-46%, 36-47%, 24-29%, and 33-35%.
No change to the price target of $648.
Shares of Regeneron Pharma closed at $402.02 yesterday.
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