Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
Regeneron Pharmaceuticals wasn’t having the best of days in the market today. In fact, the stock has been sliding all day. That is, until the stock was halted at 10:56 while trading at $376.99 per share after a loss of $6.69 per share (1.74%) thus far today. As soon as the stock was halted, our partners at Trade Ideas alerted us, prompting some digging into the story. Here’s what we’ve found so far….
Up To Date Data On The REGN Halt
At the moment, we don’t know much, considering that the stock was halted less than 4 minutes ago. However, we do know that the halt is a news pending halt. This means that trading was stopped because big news is on the horizons.
Many on Twitter (including Adam Feuerstein) are suggesting that the halt is related to a coming drug approval. However, the company has not confirmed, nor can they. After all, the stock is quiet during a news pending halt until the big news is officially released to the entire investing community.
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 seeing if a new drug approval is the reason for the halt. We will continue to follow the story and update this article as it breaks. Stay tuned!
Update 11:36: As many suggested, the halt is the result of a drug approval. Seconds ago, it was announced that Dupixent was approved. The stock is still halted and the data is still very new. We will continue to follow the story closely and bring it to you as it breaks!
Update 11:46: REGN to resume trading at 12:05 ET. Be ready for some big movement!
Update 11:49: After reading through the label, available here, it looks very clean. In fact, it looks like REGN and SNY got everything they wanted from the FDA!
Update 12:05: REGN reopens in the green, the stock is currently trading at $385.05 per share, but is likely to climb far higher in the minutes and hours to come!
What Do You Think?
Where do you think REGN is headed? Join the discussion in the comments below!
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