After a 2.7% drop on Monday, shares in Regeneron were down a further 3% at $363.49 by Tuesday lunchtime.
The reason for the slump is likely linked to the decision to drop development of a combination of Eylea (aflibercept) and the angiopoietin2 (Ang2) antibody nesvacumab. The US biotech had been investigating these two treatments under a global collaboration agreement with the German life sciences company Bayer (BAYN: DE), which markets Eylea.
Results from two Phase II trials, named RUBY and ONYX, do not warrant taking the combination into Phase III development, Regeneron announced.
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