Sanofi Shares Decline Following Termination of Phase 3 Riliprubart Study
The pharmaceutical company's stock falls during the session after the announcement this morning of the termination of a Phase 3 clinical study. The stock is at the bottom of the CAC 40 rankings, in a Parisian market that is itself in decline.
Termination of the MOBILIZE Study Weighs on Shares Early in the Session
Sanofi shares are down 1.12% at €76.18, among the steepest declines in the CAC 40, as the index itself falls by 0.30%. The group announced this morning the termination of its Phase 3 MOBILIZE study on riliprubart, a drug candidate intended for patients with chronic refractory demyelinating polyneuropathy.
The decision follows an interim analysis by an independent data monitoring committee, which concluded that the study was unlikely to demonstrate sufficient efficacy. This is a clinical setback in an area where Sanofi was looking to position itself in refractory forms.
The movement remains contained in light of the company's pipeline, which has seen several favorable announcements in recent weeks, including the European approval of the subcutaneous formulation of Sarclisa on June 8 and a priority review by the FDA for venglustat at the end of May.
The Stock Falls Below Its MM50 (€77.87)
In terms of indicators, the price has fallen below the MM50 (€77.87), with a negative gap of 2.17%, while remaining slightly above the MM20 (€75.63). The MM200, at €81.20, remains 6.18% above the current price, indicating that the underlying trend remains weak despite a rebound of nearly 4% observed over the month.
The RSI at 53 indicates a neutral configuration, without a clear directional signal.
On the analyst front, two firms positioned themselves on June 8. Kepler Cheuvreux maintained its 'hold' rating with an unchanged target of €85, representing a potential of about 11.6% from today's price. CIC Market Solutions upgraded to 'buy' with a target of €100, representing a potential of 31.3%.
According to the consensus of analysts surveyed, the stock is trading at about 9 times the earnings of the current fiscal year and 8.5 times those of the next fiscal year. The technical support identified at €72.72 remains the low mark to watch in the short term.
