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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