Why RBS, Cheniere Energy, Regeneron Pharmaceuticals & Two Other Stocks Are in Spotlight Today

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Regeneron Pharmaceuticals Inc (NASDAQ:REGN) shares are 2% lower after the company announced that a Phase 2 study of Aflibercept co-formulated with Rinucumab showed no benefit over Aflibercept alone for patients with neovascular age-related macular degeneration. The combination did not meet its primary endpoint of demonstrating improvement in the best corrected visual acuity compared to intravitreal aflibercept injection monotherapy at 12 weeks. The number of funds from our database with holdings in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) fell by three quarter-over-quarter to 32 at the end of June.

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Last but not least, Ophthotech Corp (NASDAQ:OPHT) shares have slid by 14% on the news about Regeneron’s Phase 2 study of Aflibercept. Ophthotech’s lead product candidate is Fovista, which, when used in combination with anti-vascular endothelial growth factor drugs, is thought to be a potential treatment for wet age-related macular degeneration.  A total of 27 funds tracked by Insider Monkey were long Ophthotech Corp (NASDAQ:OPHT) at the end of June, up by three funds from the previous quarter.

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Disclosure: none

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