Why Regeneron Pharmaceuticals, Inc. (REGN) Crashed On Friday

We recently published a list of These 10 Stocks Lost This Much Today. In this article, we are going to take a look at where Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) stands against other Friday’s worst performers.

Regeneron Pharmaceuticals fell by 19.01 percent on Friday to end at $490.28 apiece as investor sentiment was dampened by the shocking failure of its potential treatment for chronic obstructive pulmonary disease (COPD) during one of its late-stage trials.

According to the company, the first trial of the Phase 3 study for the efficacy of itepekimab in adult former smokers with COPD met the primary target of showing a 27-percent reduction in the worsening symptoms after 52 weeks. However, the second trial failed to meet the same endpoint, having reduced by only 2 percent during the same study period.

A pharmacist in a lab coat carefully analyzing a vial of medicine for its quality.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), along with its partner, Sanofi, said they are reviewing the data and will discuss with regulatory authorities to evaluate next steps.

“Certain people with COPD are in desperate need of new treatment options, especially those who continue to experience exacerbations despite being on maximal therapy, and we remain committed to discussing these data with regulatory agencies to evaluate our path forward,” said Sanofi Head of Research and Development Houman Ashrafian.

Overall, REGN ranks 3rd on our list of Friday’s worst performers. While we acknowledge the potential of REGN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than REGN and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.