This study will test a study drug called REGN20934 to see how safe and well tolerated this drug is, as well as how the drug is processed in the body for participants with overweight or obesity.

The study is looking at:

• What side effects REGN20934 might cause
• How much REGN20934 is in the blood at different times
• If the body makes antibodies to REGN20934

Key Inclusion Criteria:

1. Has a Body Mass Index (BMI) 25 to 35 kg/m^2
2. Females must be of non-childbearing potential

Key Exclusion Criteria:

1. A self-reported change of body weight >5 kg within approximately 90 days of visit 2
2. History of type 1 or type 2 diabetes
3. History of clinically significant cardiovascular, respiratory, hepatic, renal, gastrointestinal, endocrine, hematological, psychiatric, or neurological disease, as defined in the protocol

Note: Other protocol defined inclusion/exclusion criteria apply

All Individual Patient Data (IPD) that underlie publicly available results will be considered for sharing

When Regeneron has:

• received marketing authorization from major health authorities (e.g., FDA, European Medicines Agency (EMA), Pharmaceuticals and Medical Devices Agency (PMDA), etc.) for the product and indication or has globally discontinued development of the product for all indications on or after April 2020 and has no plans for future development
• made the study results publicly available (e.g., scientific publication, scientific conference, clinical trial registry)
• the legal authority to share the data, and
• ensured the ability to protect participant privacy

Qualified researchers can submit a proposal for access to individual patient or aggregate level data from a Regeneron-sponsored clinical trial through Vivli. Regeneron's Independent Research Request Evaluation Criteria can be found at: https://www.regeneron.com/sites/default/files/Regeneron-External-Data-Sharing-Policy-and-Independent-Research-Request-Evaluation-Criteria.pdf

Sponsor unblinded