Wells Fargo hikes Regeneron's PT, expects Dupixent to work in lung disease trial

Jasper Therapeutics

17/02/2023 19:56

** Brokerage Wells Fargo raises PT on drugmaker Regeneron
Pharmaceuticals Inc  REGN.O  to $860 from $800    
    ** Sees high probability of REGN and Sanofi SA's  SASY.PA 
jointly developed drug Dupixent working in upcoming late-stage
chronic obstructive pulmonary disease (COPD) or smoker's lung
trial 
    ** COPD is a disease that causes airflow blockage, chronic
coughing and breathing-related problems; trial data expected in
H1 of 2023 
    ** Brokerage says lung function improvement is key and that
is where the drug could shine; sees $2.5 bln-$3.5 bln market
opportunity for the drug in COPD
    ** Wells Fargo adds that the prior futility analysis being
successful on the COPD trial increases confidence; REGN shares
now up 1.8% at $749.6
    ** Brokerage further cites three key reasons why the
injection could work in COPD
    ** Investors expected even more on average from French
drugmaker SASY's recent sales estimates for its bestselling
asthma and eczema drug, Dupixent, partly on hopes that the
injection will also succeed in the COPD trial 
    ** In 2022, REGN stock rose ~14% 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))