Regeneron Pharmaceuticals Inc. shares slumped 1.8% in premarket trade Tuesday after a midstage trial of the company's lower back pain drug was placed on hold by the Food and Drug Administration due to concerns about a patient on a high dose. The patient, who had an advanced form of arthritis at the study's start, had developed joint disease. Regeneron, which is collaborating with Teva Pharmaceutical Industries Ltd. on the drug called fasinumab, said its interim review of results showed "clear evidence of efficacy with improvement in pain scores in all fasinumab groups," with preliminary safety results generally consistent with previous such results. Patients in the phase 2b trial will continue to be followed for more than eight months, Regeneron said. The two companies said they plan to design a phase 3 trial excluding patients with advanced osteoarthritis. Teva shares were not active in premarket trade. Regeneron shares declined 0.6% over the last three months, compared with a 1.3% decline in the S&P 500 . Teva stock declined 20.8% over the last three months.
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