US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) and partner Germany’s Bayer (BAYN: DE) saw their shares leap 8.5% to $369.64 and 3.4% to 104.85 euros, respectively, after reporting new clinical trial results showing a favorable profile for their ophthalmic drug Eylea (aflibercept) on Friday.
Regeneron announced that, in the National Institutes of Health (NIH) sponsored, Diabetic Retinopathy Clinical Research Network (DRCR.net) comparative effectiveness study in patients with diabetic macular edema (Protocol T), Eylea Injection demonstrated a significantly greater improvement in mean change in best-corrected visual acuity (BCVA) from baseline at 52 weeks compared to both bevacizumab (Avastin, from Roche subsidiary Genentech) and ranibizumab injection (Lucentis, from Genentech and Novartis), the primary endpoint of the study.
Outcome better than expected, says RBC analyst
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