Pues parece que sí es como dices, que se vende una pequeña parte de las acciones de Sanofi para financiar estudios. Si no las recompra REGN entonces las vende a mercado (que es lo que está pasando). En la PR queda mejor explicado que en el sec filing (aunque ahí hay información mucho más detallada):Regeneron has agreed to grant a limited waiver of the "lock-up" in the Amended and Restated Investor Agreement between the companies, so that Sanofi may sell a small percentage of the Regeneron common stock it owns to fund a portion of the cemiplimab and dupilumab development expansion. This waiver will allow Sanofi to sell in private transactions to Regeneron up to an aggregate of 1.4 million shares of Regeneron common stock through the end of 2020, representing approximately 6 percent of the 23.9 million shares of Regeneron common stock Sanofi currently owns. As of October 20, 2017, there were 107.4 million shares of Regeneron capital stock outstanding. If Regeneron decides not to purchase the shares, Sanofi will be allowed to sell those shares on the open market, subject to certain volume and timing limitations. Further details on the updated agreements are available in Regeneron's current report on Form 8-K filed today. https://newsroom.regeneron.com/news-releases/news-release-details/regeneron-and-sanofi-accelerate-and-expand-investment-cemiplimab REGN
