Drug Sales Surge Drives Regeneron Pharmaceuticals to Q2 Beat

Regeneron just reported a second-quarter earnings and revenue win

Fernanda Horner

Digital Content Manager

Aug 3, 2023 at 10:40 AM

REGN

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) reported second-quarter revenue of $10.24 per share on revenue of $3.16 billion today, blowing past analysts' expectations. The company attributed the results to a 33% sales surge for its eczema drug Dupixent, and noted it expects the Food and Drug Administration (FDA) to approve a higher-dose version of eye disease drug Eylea in the third quarter.

Last seen up 5% at $768.51 at last check, the stock earlier moved above its 80-day moving average for the first time since late June. Overhead pressure at the $780 remains firmly in place, but over the past 12 months Regeneron Pharmaceuticals stock added 26.6%.

Drilling down to today's options activity, 1,219 calls have been exchanged -- five times the intraday average volume -- compared to just 433 puts. The most popular is the weekly 8/25 780-strike call, followed by the weekly 8/11 780-stike call, with new positions being opened at both.

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