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Published on 10/31/2006 in the Prospect News Biotech Daily.

Merrill keeps Regeneron at neutral

Regeneron Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Hari Sambasivam at neutral after the company reported positive phase 3 results for IL-1 Trap in CIAS-1-related autoinflammatory periodic syndromes (CAPS). The study of 47 patients in a two-phase trial met its primary endpoint (in both parts) of change in disease activity measured using a composite symptom score. According to the analyst, CAPS is a niche indication with an undetermined prevalence or incidence, making it an unlikely material revenue driver for Regeneron. Shares of the Tarrytown, N.Y.-based biotechnology company were up 65 cents, or 3.35%, at $20.05. (Nasdaq: REGN)


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