Regeneron has been making news lately as its drug Dupixent recently yielded positive results in a Phase 3 trial. The drug is focused on treating atopic dermatitis among young children between the ages of 6 months and five years. The drug Dupixent has the potential to become one of the top-selling treatments globally over the next decade. You may have heard of Regeneron before, as it was at the forefront of antibody treatments used to tackle mounting COVID cases back in 2020. There are plenty of biotech companies with promising therapies and products. There is no shortage of health conditions that need treatment. The key for any biotech company is to be able to earn a suitable return on the substantial investment that it makes in developing new products and putting them through rigorous trials. If you are looking to buy biotech stocks in 2021, then Regeneron Pharmaceuticals could be one stock to consider.
Regeneron Q22021 Earnings Release
On 5th August 2021, Regeneron Pharmaceuticals reported its second-quarter 2021 earnings numbers. Total revenues jumped from $1.9 billion in Q22020 to $5.1 billion. The growth was a massive $163% year-on-year. The GAAP net income per share on a diluted basis came in at $27.97 as compared to $7.61 in Q22020. The year-on-year change was a massive 268%. Regeneron’s antibody cocktail sales, along with Eylea and Dupixent sales, were the primary drivers of performance during the quarter. Regeneron’s management also revealed that the company had 30 different products in the pipeline. Regeneron’s collaboration revenues jumped from $513 million in Q22020 to $955 million in Q22021. Based on this recent performance, Regeneron looks like a strong candidate for investors looking to buy top biotech stocks.
Regeneron Pharmaceutical’s stock trades on the NASDAQ exchange under the ticker symbol REGN. The stock closed at $679.57 on 3rd September 2021. The stock had been facing resistance for the last 5-6 years. However, in September 2021, the price appears to be breaking out, and this could be a good time to enter the stock.