Why Sanofi Shares Are Trading Lower Today

Sanofi SA (NASDAQ: SNY) stock slid after its drug candidate, amcenestrant, to fight a common type of breast cancer, failed to slow the progression of the disease in the Phase 2 AMEERA-3 trial.

• Results from the Phase 2 trial showed that the drug amcenestrant, given as a pill, did not have the desired effect compared to standard endocrine treatment against locally advanced or metastatic breast cancer.
• No new safety signals were identified, and the safety profile of amcenestrant in AMEERA-3 was consistent with earlier studies.
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• Sanofi said it would continue with two further trials, AMEERA-5 and AMEERA-6, trying to show that amcenestrant could help much larger patient groups of women in the early stages of cancer.
• Amcenestrant belongs to a drug class called selective estrogen receptor degraders (SERD) to fight tumors that grow in response to estrogen.
• Price Action: SNY shares are down 2.58% at $49.40 during the premarket session on Monday's last check.