Regeneron Pharmaceuticals lost $11 billion in market value after its Phase 3 melanoma therapy trial failed, triggering a securities class action lawsuit from investors.
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Regeneron loses $11 billion as failed trial triggers class action
Regeneron Pharmaceuticals Inc. lost $11 billion in market value after its Phase 3 melanoma therapy trial failed, prompting a securities class action lawsuit from investors.
Hagens Berman filed the complaint July 29 in the US District Court for the Southern District of New York. The firm seeks to represent investors who purchased Regeneron common stock between Aug. 1, 2025 and May 15, 2026, alleging the company failed to disclose the trial's disappointing results before the May 15 disclosure.
The class period ends on the date Regeneron revealed the Phase 3 failure for its experimental melanoma treatment. The disclosure erased $11 billion from the company's market capitalization in a single session, according to the complaint. Investors have until Sept. 14, 2026 to file motions for lead plaintiff.
The failed trial represents a significant setback for Regeneron's oncology pipeline, which had been a key growth driver for the Tarrytown, New York-based biotech. The company competes in the immuno-oncology space against Merck & Co.'s Keytruda and Bristol Myers Squibb Co.'s Opdivo, two of the best-selling cancer drugs globally. Regeneron has not disclosed whether it will pursue additional studies of the therapy or abandon the program. The class action, if certified, could expose the company to substantial settlement costs on top of the development setback. Investors will watch for pipeline updates when Regeneron reports second-quarter earnings.
This article is for informational purposes only and does not constitute investment advice.
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