Regeneron Pharmaceuticals Q1 Results Mixed As Sales Rise 10%

Written by StockNews.com

Regeneron Pharmaceuticals Inc. (Nasdaq: REGN) early Thursday posted mixed first quarter earnings results, with profit badly missing estimates but revenues coming in ahead of expectations.

The Tarrytown, NY-based biopharma giant reported Q1:

• earnings per share (EPS) of $2.92, which was $0.15 worse than the Wall Street consensus estimate of $3.07 [and that]
• revenues rose 9.8% from last year to $1.32 billion, beating analysts’ view for $1.3 billion.

Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer, commented via press release:

“In the first quarter, we were thrilled to receive U.S. FDA approval for Dupixent, our breakthrough therapy for moderate-to-severe atopic dermatitis, and are working to support access for appropriate patients who suffer from this serious disease.

We are also pleased to have positive Phase 2 results with dupilumab in moderate-to-severe eosinophilic esophagitis, which marks the fourth allergic disease in which dupilumab has shown proof of concept. These data further validate the hypothesis that the IL-4/IL-13 pathway is a major driver in multiple allergic diseases.

Additionally, we have received a new FDA action date for Kevzara, our therapy for rheumatoid arthritis, and are looking forward to a potential U.S. approval and launch in late May 2017.”

...Year-to-date, REGN has gained 10.88%, versus a 7.15% rise in the benchmark S&P 500 index during the same period.

REGN currently has a StockNews.com POWR Rating of B (Buy) and is ranked #18 of 275 stocks in the Biotech category.