Regeneron Pharmaceuticals released positive Phase 2 trial results, which showed that a single dose of of its investigational antibody cocktail therapy prevented early asthma reactions in cat-allergic patients.
Regeneron (REGN) said that the REGN1908-1909 antibody cocktail trial met the primary endpoint and key secondary endpoints, including improved lung function. Following a single dose of treatment, patients could tolerate an increased amount of cat allergen after one week and for up to three months of the trial period. The randomized 12-week trial enrolled 56 cat-allergic patients with mild asthma who were not living with a cat and received a single dose of REGN1908-1909 or placebo.
REGN1908-1909 is a cocktail of two fully-human monoclonal IgG antibodies, developed to specifically bind and block the Fel d 1 allergen, and prevent it from binding and triggering the endogenous antibodies that cause allergies (i.e., Immunoglobulin E, or IgE, antibodies).
“These data add further evidence supporting a completely new way to combat common allergies,” said Regeneron Chief Scientific Officer George D. Yancopoulos. “Under this new approach pioneered by Regeneron, patients are given antibodies that provide immediate and durable protection against offending allergens, a type of passive immunity.”
“We have developed and are currently studying several allergen-specific antibodies, including REGN1908-1909 for cat allergy and a Phase 3 trial investigating REGN5713-5715 in patients with birch allergy,” Yancopoulos added.
The use of REGN1908-1909 to treat cat-allergic patients with mild asthma is investigational and its efficacy and safety have not been fully evaluated by any regulatory authority. Currently, cat-induced allergic rhinitis is treated with antihistamines and intranasal corticosteroids with moderate efficacy, Regeneron said. Allergen-specific immunotherapy administered via allergy shots takes 12-24 months to see clinical benefit.
Shares in Regeneron have dropped 13% over the past three months and the stock scores a cautiously optimistic Moderate Buy consensus rating. That’s alongside an average analyst price target of $658.36, indicating upside potential of a promising 46% lies ahead.
Meanwhile, J.P. Morgan analyst Cory Kasimov last month reiterated a Hold rating on the stock and lowered the price target to $540 from $550.
“While REGN continues to execute well and drive impressive growth, valuation forms the basis of our Neutral rating, as we believe longer-term questions on the commercial front may keep shares relatively range-bound,” Kasimov wrote in a note to investors. (See Regeneron stock analysis on TipRanks). On TipRanks’ Smart Score ranking, REGN gets a 6 out of 10, implying that the stock is likely to perform in line with market expectations.
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