Regeneron falls after reporting EPS below the Street and disclosing patient deaths

Regeneron lost $2.4 billion in market cap Tuesday after reporting 1Q19 EPS well below consensus and disclosing two patient deaths in a Phase I trial evaluating its bispecific mAb targeting CD20 and CD3, REGN1979, in combination with anti-PD-1 mAb Libtayo cemiplimab-rwlc.

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) President and CSO George Yancopoulos said on the company's earnings call Tuesday that the bispecific and PD-1 inhibitor combo led to "enhanced" cytokine release syndrome (CRS) associated with increased toxicities in patients with advanced lymphoma, including two potentially related fatalities potentially related to CRS...