Shares of Sanofi SNY, -1.09%SAN, -1.10% were up 0.9% in premarket trading on Tuesday after the drugmaker said that the rheumatoid arthritis drug Kevzara failed a Phase 3 clinical trial testing the therapy as a treatment for severely ill COVID-19 patients. Sanofi and Regeneron Pharmaceuticals Inc. REGN, -4.71%, its commercial partner for Kevzara, said they do not plan to conduct additional studies testing the drug as a COVID-19 treatment. Regeneron’s stock was down 1.4% in premarket trading on Tuesday. In the early days of the pandemic, there was interest in testing rheumatoid arthritis drugs like Kevzara and Roche Holding AG’s ROG, +0.72% Actemra in coronavirus patients; however, studies so far have failed to demonstrate that these drugs can lessen the severity of disease, shorten hospital stays, or reduce death. Roche said in July that Actemra had failed in a late-stage clinical trial testing the drug in hospitalized COVID-19 patients.
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