Shares of Regeneron Pharmaceuticals Inc. (REGN) were down 2.4% and Sanofi's (SAN.FR) stock declined 1.7% in after-hours trading on Friday after the companies halted a Phase 3 clinical trial testing their rheumatoid arthritis drug Kevzara as a COVID-19 treatment. The drug, which was being tested in 194 hospitalized COVID-19 patients receiving mechanical ventilation, did not meet the primary or key secondary endpoints in the study. The findings will be published in a peer-reviewed medical journal later this year. Sanofi is continuing to evaluate Kevzara using a different dose in a trial of COVID-19 patients taking place outside of the U.S. Since the start of the year, Regeneron's stock is up 65.7%, shares of Sanofi are up 2.6%, and the S&P 500 is down 3.5%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 02, 2020 16:59 ET (20:59 GMT)
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