Why Sanofi Stock Was Robustly Healthy Today
Although the latest news from the laboratory was mixed for pharmaceutical company Sanofi (NASDAQ: SNY) on Tuesday, investors gave the company the benefit of the doubt. They bid the share price up by more than 2% on the day, making it a mirror image of the 2%-plus decline of the S&P 500 index.
Sanofi published readouts of three phase 3 trials of its tolebrutinib multiple sclerosis (MS) treatment. In the first study, the drug met its primary endpoint of delaying time to onset of confirmed disability progression in patients with non-relapsing, secondary progressive MS (nrSPMS), compared to a placebo.
That was the good news. The not-so-good news came from the remaining two trials that put tolebrutinib through its paces for relapsing MS. Sanofi said the drug didn't demonstrate significance in its primary endpoint of reducing the annualized relapse rate, compared to the company's Food and Drug Administration (FDA)-approved medication Aubagio.
Source Fool.com
