Regeneron Shares Halted As FDA Weighs Eye Drug
Trading in shares of Tarrytown, NY-based Regeneron Pharmaceuticals (NASDAQ: REGN) was halted today in advance of an FDA advisory panel meeting to discuss the company’s treatment for age-related macular degeneration, aflibercept (also known as VEGF Trap-Eye), according to a press release. On June 15, the FDA released documents ahead of the meeting that indicated the agency believes the drug is effective and doesn’t raise any major safety concerns. The FDA is expected to hand over its final decision on aflibercept—which Regeneron hopes to market under the brand name Eylea—by August 20. Shares traded up 6 percent on Wednesday to $61.05 before settling down to a closing price on June 16 of $56.72.