Regeneron Plunging; May be Related to Drug Data From Ophthotech

Shares of Regeneron Pharmaceuticals

are plunging in early trade on Wednesday. The stock was last trading down around 8% to $117.69. The move in the name may be related to clinical trial data from Ophthotech. Volume is very heavy with around 1.3 million REGN shares trading hands compared to a 3-month daily average of 914,000. Regeneron Pharmaceuticals, Inc. (Regeneron) is an integrated biopharmaceutical company, which discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.