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July 2, 2020, 5:00 p.m. EDT

Regeneron, Sanofi halt trial for experimental coronavirus drug, shares fall

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By Jaimy Lee

Shares of Regeneron Pharmaceuticals Inc. /zigman2/quotes/203149337/composite REGN +2.25% were down 2.4% and Sanofi's /zigman2/quotes/201967021/composite SNY +1.91% 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 /zigman2/quotes/210599714/realtime SPX +1.40% is down 3.5%.

/zigman2/quotes/203149337/composite
US : U.S.: Nasdaq
$ 612.35
+13.49 +2.25%
Volume: 562,532
Aug. 12, 2020 4:00p
P/E Ratio
23.71
Dividend Yield
N/A
Market Cap
$63.71 billion
Rev. per Employee
$906,865
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/zigman2/quotes/201967021/composite
US : U.S.: Nasdaq
$ 51.79
+0.97 +1.91%
Volume: 875,983
Aug. 12, 2020 4:00p
P/E Ratio
10.61
Dividend Yield
2.27%
Market Cap
$129.53 billion
Rev. per Employee
$390,092
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/zigman2/quotes/210599714/realtime
US : S&P US
3,380.35
+46.66 +1.40%
Volume: 2.25B
Aug. 12, 2020 5:10p
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