Regeneron’s 2024 1st-qtr misses expectations

2 May 2024

Shares of USA-based Regeneron (Nasdaq: REGN) dipped 1.8% after reporting first-quarter 2024 financial results that fell short of Wall Street expectations.

The biotechnology company announced an adjusted earnings per share (EPS) of $9.55, down 5%, which was below the consensus estimate of $10.19. Revenue for the quarter was $3.15 billion, down 1%, also missing the consensus estimate of $3.22 billion.

Despite the overall revenue decrease, the company highlighted a 7% increase when excluding sales from Ronapreve (casirivimab/imdevimab), a COVID-19 treatment. Notably, global net sales of Dupixent (dupilumab), a drug developed in collaboration with Sanofi (Euronext: SAN), surged 24 % to $3.08 billion. US net sales for Eylea HD (aflibercept 8mg) and Eylea reached $1.40 billion, with Eylea HD contributing $200 million. Additionally, Libtayo (cemiplimab) saw a robust 45% increase in global net sales to $264 million compared to the first quarter of 2023.

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