FDA Approves Regeneron's Gene Therapy for Inherited Deafness
REGN sits 60% above its 52-week low of $476.487.
Summary
The U.S. Food and Drug Administration has approved Regeneron's gene therapy for a rare genetic form of inherited deafness. This approval marks a significant expansion of Regeneron's product portfolio into the gene therapy space and for a new indication. It follows a series of positive developments for the company, including recent FDA and EU approvals for Dupixent and positive Phase 3 results for Cemdisiran. This new therapy could provide a novel revenue stream and further diversify the company's offerings beyond its established blockbusters. Traders will be watching for details on the commercial launch and market penetration of this new treatment.
At the time of this announcement, REGN was trading at $763.24 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $80.7B. The 52-week trading range was $476.49 to $821.11. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.