WS Investor
30 Jul 2026, 15:27
Regeneron Stock Rises After Strong Q2 Results and Improved 2026 Outlook
Regeneron Pharmaceuticals (NASDAQ: REGN) shares rose 1% after the biotechnology company reported strong second-quarter results, driven by continued growth from Dupixent, EYLEA HD and Libtayo, while updating its full-year financial guidance.
Second-quarter revenue increased 17% year over year to $4.3 billion, while non-GAAP earnings per share rose 11% to $14.29. Although GAAP EPS declined to $12.23 due to acquired in-process research and development (IPR&D) charges, the company's underlying operating performance remained strong.
Flagship Medicines Continue to Deliver
Regeneron's commercial portfolio continued to post robust growth during the quarter. Global Dupixent sales, recorded by partner Sanofi, climbed 38% to a record $6.0 billion, while U.S. sales of EYLEA HD surged 52% to a record $596 million. Global Libtayo sales also reached a new high, increasing 30% to $489 million. Higher Dupixent sales lifted collaboration revenue from Sanofi by 51%, helping drive overall revenue growth.
The company also announced that the Sanofi Development Balance was fully repaid by the end of the second quarter, a milestone expected to increase collaboration profits beginning in the third quarter.
Pipeline Advances and Guidance Update
Regeneron reported multiple regulatory and clinical milestones during the quarter, including accepted FDA and EMA submissions for cemdisiran in generalized myasthenia gravis and several approvals and label expansions across its portfolio. Management also updated its 2026 financial guidance, including higher expected gross margins and lower projected SG&A and capital expenditures, reflecting confidence in the business outlook.
What to Watch
The modest share gain reflects investor confidence in Regeneron's expanding commercial portfolio and improving profitability. Going forward, investors will monitor continued adoption of EYLEA HD, sustained Dupixent growth, upcoming regulatory decisions for cemdisiran and the anticipated increase in collaboration profits following the repayment of the Sanofi Development Balance.
Regeneron Pharmaceuticals (NASDAQ: REGN) shares rose 1% after the biotechnology company reported strong second-quarter results, driven by continued growth from Dupixent, EYLEA HD and Libtayo, while updating its full-year financial guidance.
Second-quarter revenue increased 17% year over year to $4.3 billion, while non-GAAP earnings per share rose 11% to $14.29. Although GAAP EPS declined to $12.23 due to acquired in-process research and development (IPR&D) charges, the company's underlying operating performance remained strong.
Flagship Medicines Continue to Deliver
Regeneron's commercial portfolio continued to post robust growth during the quarter. Global Dupixent sales, recorded by partner Sanofi, climbed 38% to a record $6.0 billion, while U.S. sales of EYLEA HD surged 52% to a record $596 million. Global Libtayo sales also reached a new high, increasing 30% to $489 million. Higher Dupixent sales lifted collaboration revenue from Sanofi by 51%, helping drive overall revenue growth.
The company also announced that the Sanofi Development Balance was fully repaid by the end of the second quarter, a milestone expected to increase collaboration profits beginning in the third quarter.
Pipeline Advances and Guidance Update
Regeneron reported multiple regulatory and clinical milestones during the quarter, including accepted FDA and EMA submissions for cemdisiran in generalized myasthenia gravis and several approvals and label expansions across its portfolio. Management also updated its 2026 financial guidance, including higher expected gross margins and lower projected SG&A and capital expenditures, reflecting confidence in the business outlook.
What to Watch
The modest share gain reflects investor confidence in Regeneron's expanding commercial portfolio and improving profitability. Going forward, investors will monitor continued adoption of EYLEA HD, sustained Dupixent growth, upcoming regulatory decisions for cemdisiran and the anticipated increase in collaboration profits following the repayment of the Sanofi Development Balance.
