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SNY - AnaptysBio Tumbles On Rival's Drug Failure; Becomes A Strong Buy On Expanded Pipeline
Sanofi
AnaptysBio (ANAB) stock closed lower by 11% on Friday after a rival drug known as REGN3500 from Regeneron Pharmaceuticals (REGN) and its partner Sanofi (SNY), failed a mid-stage study in asthma. I believe that despite a rival failing with a similar drug, AnaptysBio's stock shouldn't have traded lower on this news. Matter of fact, I believe that it presents itself as a great buying opportunity. That's because the biotech has a lot more irons in the fire for its pipeline using the very same drug. There are even