Business in the Burbs

Regeneron shares fall after analyst downgrade

June

Shares of Regeneron Pharmaceuticals Inc. dropped nearly 20 percent today after an analyst downgraded the stock on concerns about the outlook for an experimental cancer drug known as aflibercept.

The stock of the Eastview-based biotech company had been under pressure since Regeneron and its research partner, Sanofti-aventis of Paris, announced on May 21 that a phase 2 study of 215 women with advanced ovarian cancer showed no significant response to aflibercept.

Regeneron shares fell $3.73 to $15.35 after analysts at Credit Suisse cut the rating of the stock to neutral.

This entry was posted on Thursday, June 5th, 2008 at 5:35 pm by Jay Loomis.
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