Hopes for a second indication for vision loss treatment VEGF Trap-Eye is the icing on the Christmas cake for Regeneron Pharmaceuticals. The earlier-than-anticipated pivotal data, showing a significant improvement in vision in patients with a form of macular oedema, comes only a month after similarly encouraging results in macular degeneration (Dosing the jewel in VEGF Trap-Eye’s crown, November 22, 2010).
Despite the good news, Regeneron shares were little changed today, albeit trading at a nine-and-a-half year high of $33. To ignite further excitement the company needs to deliver positive data on its second late-stage hope, aflibercept, which should start to emerge next year. And with only topline results revealed so far on VEGF Trap-Eye, further detail here will make for crucial reading. Regeneron is approaching a market value of $3bn; to breach this amount next year must bring more good news.