The Nasdaq Biotechnology Index once fell more than 3.1%, as the research results for lung disease drugs were unsatisfactory, Regeneron Pharma dropped over 16%, and European stocks Sanofi also fell more than 7% at one point

Wallstreetcn
2025.05.30 14:33

The Nasdaq Biotechnology Index once fell over 3.14%, with the decline currently narrowing to 2.38%.

Component stock Summit Therapeutics Plc. is currently down 25.09%, Regeneron Pharma is down 16.49%, and Vir Biotech is down 6.07%, ranking third from the bottom.

On May 30th, ahead of European stock trading, data disclosed by Sanofi and Regeneron Pharma showed mixed results for the clinical trial of the drug Itepekimab, used for treating lung diseases—while achieving the primary endpoint in one Phase III study, it failed to achieve the primary endpoint in another study. The two companies are analyzing the data and will discuss it with (various) regulatory agencies.

Sanofi's stock price in Paris gapped down, with the decline once expanding to 7.11%, making it the worst performer among the "Eleven Warriors" in European stocks

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