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Sanofi SA (NASDAQ:SNY) stock slid after its drug candidate, amcenestrant, to fight a common type of breast cancer, failed to slow the progression of the disease in the Phase 2 AMEERA-3 trial.
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- Results from the Phase 2 trial showed that the drug amcenestrant, given as a pill, did not have the desired effect compared to standard endocrine treatment against locally advanced or metastatic breast cancer.
- No new safety signals were identified, and the safety profile of amcenestrant in AMEERA-3 was consistent with earlier studies.
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- Sanofi said it would continue with two further trials, AMEERA-5 and AMEERA-6, trying to show that amcenestrant could help much larger patient groups of women in the early stages of cancer.
- Amcenestrant belongs to a drug class called selective estrogen receptor degraders (SERD) to fight tumors that grow in response to estrogen.
- Price Action: SNY shares are down 2.58% at $49.40 during the premarket session on Monday's last check.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.