TARRYTOWN, N.Y. (AP) -- Regeneron Pharmaceuticals Inc. said Tuesday that a Food and Drug Administration panel has recommended its drug Arcalyst not be approved as a treatment for gout.
Regeneron has asked the FDA to approve the use of Arcalyst for the prevention of gout flares in patients who are starting a treatment that is intended to reduce their uric acid levels. The FDA is scheduled to make a decision on Regeneron's application by July 30. The agency is not required to follow the advice of its panels, but it often does so.
Arcalyst is an injectable drug that is approved as a treatment for a group of rare, inherited auto-inflammatory conditions called CAPS.
Regeneron's stock rose 64 cents to $130.93 on Tuesday. The shares were unchanged in extended trading.