Sanofi shares hit by amcenestrant setback

French pharma major Sanofi (Euronext: SAN) looked set to close trading nearly 1% lower on Monday, having fallen nearly 5% earlier, after a setback impacting one of the firm’s pipeline assets.

The Paris-based drugmaker had earlier announced that the Phase II AMEERA-3 trial evaluating amcenestrant, an investigational optimized oral selective estrogen receptor degrader (SERD), did not meet its primary endpoint of improving progression-free survival as assessed by an independent central review.

"We continue to investigate amcenestrant in patients with earlier stages of breast cancer with different tumor profiles and where different standard of care treatments are used"