Is Regeneron Pharmaceuticals Among the Best Biotech Stocks to Invest In According to Billionaire Steve Cohen?
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is among the Best Biotech Stocks.
On April 23, Reuters reported that the U.S. Food and Drug Administration approved Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s gene treatment for a rare genetic form of deafness. It is the first gene therapy for genetic hearing loss. The firm stated that the therapy, Otarmeni, will be given away for free to American patients through the FDA’s priority voucher program.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) produced the therapy to treat Otoferlin-related hearing loss caused by OTOF gene variations. This affects 20 to 50 babies each year. The pharmaceutical firm explained that the treatment delivers the missing protein by delivering a working copy of the OTOF gene through a modified virus infused into the cochlea.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s auditory global program head, Jonathon Whitton, told Reuters that the approval marks “a new era” in hearing loss treatment. Reuters stated that competitors such as Eli Lilly are researching comparable treatments that have shown early success.
Sierra, the mother of a study participant, told Reuters that the therapy helped her child respond to his name. She called the development “the craziest thing.”
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a biotechnology firm. It works in the discovery, invention, development, manufacturing, and marketing of pharmaceuticals. Its brand lineup includes Dupixent, Evkeeza, Eylea, Inmazeb, and Kevzara.
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