Regeneron Pharma beats by $0.60, beats on revs; lowers top-end of GAAP Sanofi collaboration revenue guidance (299.57)
- Reports Q2 (Jun) earnings of $6.02 per share, excluding non-recurring items, $0.60 better than the S&P Capital IQ Consensus of $5.42; revenues rose 20.3% year/year to $1.93 bln vs the $1.8 bln S&P Capital IQ Consensus.
- "We are further unlocking EYLEA's potential to help patients with the recent approval in diabetic retinopathy, and are advancing a high-dose formulation into the clinic later this year. Dupixent is growing rapidly in moderate-to-severe atopic dermatitis and asthma, and we continue to receive new indications in younger patients and additional Type 2 diseases, including the recent U.S. approval for chronic rhinosinusitis with nasal polyposis. Lastly, our immuno-oncology platform, which includes Libtayo and our portfolio of bispecific antibodies, is progressing well, with the most advanced bispecific program, REGN1979 (CD20xCD3), entering a potentially pivotal Phase 2 trial in follicular lymphoma."
- Regeneron has 21 product candidates in clinical development, including five of the Company's U.S. Food and Drug Administration (FDA) approved products for which it is investigating additional indications.
- Co sees GAAP Sanofi collaboration revenue of $500-530 mln (Prior $500-535 mln)