SNY - Connect Biopharma sinks 54% following phase 2 results on atopic dermatitis candidate

Shares of Connect Biopharma (CNTB -54.0%) are down precipitously today following the company's after the bell announcement yesterday on phase 2 results for its lead candidate, CBP-201, for atopic dermatitis. Shares are down even though the company said the primary efficacy endpoint was met. Investors may have been disappointed as Connect did not provide hard data to support its claims. The company says it will do so in a conference call at the end of January. CBP-201 targets the IL-4R? gene, the same as Sanofi (SNY +0.7%)/Regeneron's (REGN +0.8%) Dupixent (dupilumab). Dupixent is dosed every two weeks. One of the dosing arms in the Connect trial was every four weeks.

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Connect Biopharma sinks 54% following phase 2 results on atopic dermatitis candidate