Biotech Stock Roundup: REGN's Q1 Earnings Update, MRNA's Vaccine Data & More
Zacks Investment Research | May 12, 2021 02:35AM ET
The biotech sector continues to be in focus with pipeline and regulatory updates. Earnings updates from Regeneron (NASDAQ:REGN) BIIB and TMS Co., Ltd. announced that the former exercised its option to acquire TMS-007, an investigational drug for acute ischemic stroke, from the latter. The decision was based on positive data from a phase IIa study, which met its primary safety objective with no incidence of symptomatic intracranial hemorrhage (sICH) and demonstrated positive impacts on both blood vessel reopening in the brain and patient functional recovery. Biogen will make a one-time $18-million payment as part of the acquisition. TMS is also eligible to receive up to an additional $335 million in potential post-acquisition development and commercial payments if TMS-007 achieves certain developmental milestones and sales thresholds.
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