Regeneron to Sell Stock

Shares fall on the news.
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Shares of biotech company

Regeneron

(REGN) - Get Report

eased following an announcement that the company plans to sell 7.6 million shares.

Lately the stock was down 4.7% to $23.14. Morgan Stanley is the sole underwriter of the offering.

Regeneron develops drugs for serious medical conditions like cancer, eye diseases and inflammatory diseases, and is conducting early trials for other conditions.