Wolfe Research on Regeneron Pharma (REGN): 'Results were good'

Wolfe Research analyst Tim Anderson reiterated a Peerperform rating and {REMOVEPT} price target on Regeneron Pharma (NASDAQ: REGN)

The analyst comments "REGN reported topline results from two pivotal Phase 3 trials for high-dose Eylea that both met the primary endpoint. Results were good. REGN released the much-anticipated "high dose Eylea" data today from the ph3 PHOTON (diabetic macular edema, DME) and PULSAR (age-related macular edema, or AMD) trials. The intent of these two trials has been to (a) blunt the impact of Eylea biosimilars that are likely to begin launching in mid-2024 by converting as many patients as possible from today's dose (2mg) to a new, higher dose (8mg); and (b) fend off new competition from Roche's Vabysmo, a new, competing drug that launched earlier in 2022, that is seeing good uptake. Today's data were strong, but some details still need to be seen. Investors have been anticipating how results will look across three main metrics: efficacy, dosing frequency, and safety (but with most of the emphasis on dosing frequency)."

For an analyst ratings summary and ratings history on Regeneron Pharma click here. For more ratings news on Regeneron Pharma click here.

Shares of Regeneron Pharma closed at $596.44 yesterday.

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