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Jan. 28, 2022, 7:33 a.m. EST

Regeneron, Sanofi withdraw application for Libtaya as a cervical cancer treatment in the U.S.

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By Jaimy Lee

Shares of Regeneron Pharmaceuticals Inc. /zigman2/quotes/203149337/composite REGN -0.41% were down 0.1% in premarket trading on Friday after the company and Sanofi /zigman2/quotes/201967021/composite SNY +1.47% said they will no longer seek Food and Drug Administration approval for Libtaya as a second-line treatment for cervical cancer. The therapy is currently approved to treat two forms of skin cancer and a type of lung cancer. The companies said they made the decision to withdraw the application for Libtaya because they were not able to "align" on post-marketing studies with the FDA; however, they said they are continuing to have discussions with regulators in other parts of the world. Regeneron's stock has gained 20.4% and Sanofi shares are up 11.1% over the past year, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX +0.29% is up 15.3%

/zigman2/quotes/203149337/composite
US : U.S.: Nasdaq
$ 656.48
-2.72 -0.41%
Volume: 301,434
May 19, 2022 2:59p
P/E Ratio
9.28
Dividend Yield
N/A
Market Cap
$72.41 billion
Rev. per Employee
$1.59M
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/zigman2/quotes/201967021/composite
US : U.S.: Nasdaq
$ 53.16
+0.77 +1.47%
Volume: 1.51M
May 19, 2022 3:00p
P/E Ratio
18.21
Dividend Yield
2.38%
Market Cap
$133.36 billion
Rev. per Employee
$467,643
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/zigman2/quotes/210599714/realtime
US : S&P US
3,934.91
+11.23 +0.29%
Volume: 1.89B
May 19, 2022 3:00p
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