Biotech Values

[biotech jim]

REGN, I listened to the call this morning, and I continue to hold stock, most of which was bought in 2004. Stock down about 6% down after a huge run since July, as guidance for EYLEA was tightened to the low side of the prior range. The link below will give the site for the webcast rerun.

http://investor.regeneron.com/events.cfm

A few comments for now.

Evolution of the EYLEA market. Expect double digit growth based on GS analyst question. The future will see combination antibody treatment for some but not all currently approved eye indications. No color given on the NIH sponsored, Diabetic Retinopathy Clinical Research Network (DRCR.net) comparative effectiveness study in patients with Diabetic Macular Edema, as the investigators of this study will provide details in the near future.

Lenny S. did not give any color of significance to the AMGN PSCK9 litigation, as anyone should expect.

Lenny did say that he had a talk with the SNY Board Head and acting CEO Serge Weinberg. All is fine on the "REGN Western Front', my wording about how the collaboration is and will be working post Chris Viehbacher. No doubt, SNY needs REGN for new product growth.

As many know, the early pipe has many non-disclosed mAb targets. Today they disclosed a couple of the newer mechanisms. REGN1500 is an mAb against AngPTL3. This is a cardiometabolic target that has interesting human genetic data on lipids mostly. Also disclosed this morning was that REGN2222 is an mAb against RSV. Below is a link to an SI post where I provided some PubMed review abstracts of the former mechanism, and the next 2 links are the Ph1 studies of the 2 newly disclosed mechanisms.

http://www.siliconinvestor.com/readmsg.aspx?msgid=29789809

http://clinicaltrials.gov/show/NCT01749878
http://clinicaltrials.gov/show/NCT02121080

Lenny also provided a rationale for bringing into the clinic an mAb in the PD-1/PDL-L1. Though there are several players, this game has barely started (my words).