Regeneron's 2nd-qtr results beat estimates, but shares fall
Shares of US biotech Regeneron Pharmaceuticals (Nasdaq: REGN) were up 3% before the bell, but after the company posted what were better than expected second-quarter 2020 financial results, the stock dipped 1.36% to $639.63.
Total revenues for the quarter increased by 24% to $1.95 billion, compared to$1.58 billion in the second quarter of 2019, but significantly higher than estimates of $1.74 billion.
On a US Generally Accepted Accounting Principles (GAAP) basis, net income per diluted share was $7.61 in the second quarter of 2020, compared to $1.68in the second quarter of 2019.
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