SNY - Why Amicus Therapeutics Tanked in August
Shares of rare-disease drugmaker Amicus Therapeutics (NASDAQ: FOLD) shed 20% of their value in August, according to data from S&P Global Market Intelligence. And what caused investors to head for the exits last month? Apparently, a question.
On Aug. 8, Amicus released its second-quarter earnings report. During the conference call that followed, Bank of America analyst Tazeen Ahmad noted that rival Sanofi's (NASDAQ: SNY) ongoing Phase 3 Pompe disease study for neoGAA should read out ahead of Amicus' late-stage Pompe trial for AT-GAA. The analyst also questioned whether the neoGAA study's lung function primary endpoint might be viewed more favorably among caregivers than AT-GAA's 6-minute walk test.
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