Raymond James maintains an Outperform rating on Regeneron (REGN) shares and a Market Perform rating on Amgen (AMGN) after Sanofi (SNY) reported “disappointing” data for its amlitelimab COAST 1 P3 trial in atopic dermatitis trial. Placebo-adjusted EASI-75 generally conferred a ~20% placebo-adjusted EASI-75 benefit, which is very similar to Amgen’s “disappointing” OX40 rocatinlimab but much lower than Dupixent’s 36% placebo-adjusted EASI-75 bar. The firm expects Regeneron shares to be higher on Thursday.
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