Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
Regeneron Pharmaceuticals is having a relatively strong start to the day today, and for good reason. The company received Fast Track Designation with regard to one of its lead candidates. As a result, investors got exciting, pushing the stock slightly. At the moment (8:45), REGN is trading at $379.57 per share after a gain of $2.21 per share or 0.59% thus far today.
REGN Receives Fast Track Designation
As mentioned above, Regeneron Pharmaceuticals is having a strong day in the market today after announcing that the United States Food and Drug Administration has granted the company Breakthrough Therapy Designation. The designation surrounds the company’s experimental treatment known as evinacumab.
Evinacumab is designed for the treatment of hypercholesterolemia in pateients with Homozygous Familial Hypercholesterolemia, an inherited disorder that can lead to cardiovascular disease.
Stop Wasting Time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on REGN. In particular, we’re interested in following the company’s ongoing work with regard to evinacumab. Considering the new designation offered by the FDA, things are definitely headed in the right direction. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Want The News Faster?
Check out the CNA Finance Trading Desk to get the scoop before we even have the time to write up the news!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Pixabay]