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Why is Regeneron Pharmaceuticals Inc (REGN) Stock down?

We've noticed a 9.17% decline in Regeneron Pharmaceuticals Inc (REGN) stock during the 2024-10-31 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Jun, 2023:

REGN's stock fell 8.71% following The Food and Drug Administration (FDA)'s rejection of an 8-milligram-dose version of Regeneron Pharmaceuticals' eye drug Eylea.

https://www.investors.com/news/technology/regn-stock-crumbles-after-the-fda-rejects-its-next-possible-blockbuster/?src=A00220

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