Regeneron Pharmaceuticals Inc REGN shares are trading lower by $12.00 (2.2 percent) at $464.84 in Thursday's session. The decline may be a delayed reaction to the company's 8-K filing released before Wednesday's open.
Also on Wednesday, Pfizer PFE and Eli Lilly LLY received fast track designation to their pipeline candidate, Tanezumab, for the treatment of chronic pain in patients with osteoarthritis This drug candidate is in direct completion for a similar drug being developed by Regeneron.
After a lower open, Regeneron's stock couldn't regain Wednesday's close ($476.84), only reaching $475.80 before continuing its move lower. So far, the ensuing decline took the stock to $461.58, but rebounded back into the mid-$460.00 handle. That marks its lowest level since it bottomed on June 1 at $459.53.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
