Regeneron Pharmaceuticals Inc - REGN STOCK NEWS

Regeneron Pharmaceuticals (NASDAQ: REGN) announced the FDA's acceptance for Priority Review of its Biologics License Application (BLA) for evinacumab, targeting patients with homozygous familial hypercholesterolemia (HoFH). HoFH affects approximately 1,300 patients in the U.S., many of whom do not achieve optimal LDL-C levels with existing therapies. Evinacumab is designed to block angiopoietin-like 3 (ANGPTL3) to lower LDL-C. The FDA's target action date is February 11, 2021, and the drug has previously received Breakthrough Therapy designation.

Regeneron Pharmaceuticals announced the pricing of its underwritten offering of $1.250 billion in senior unsecured notes due 2030 with a 1.750% interest rate, and $750 million in notes due 2050 with a 2.800% interest rate. The issuance is expected to close around August 12, 2020. The funds will be used primarily to repay outstanding loans related to a stock repurchase from Sanofi and for general corporate purposes. The offering will support Regeneron's financial stability as it continues its drug development efforts.

Regeneron Pharmaceuticals reported a 24% revenue increase to $1.95 billion in Q2 2020, driven by strong sales of EYLEA and Dupixent. EYLEA's U.S. net sales were $1.11 billion, while Dupixent's global sales reached $945 million. GAAP diluted EPS stood at $7.61. The company initiated Phase 2 and 3 trials for REGN-COV2, targeting COVID-19. It also received FDA approval for Dupixent in children aged 6-11 with atopic dermatitis. Regeneron's balance sheet remains robust, positioning it for long-term growth amid operational challenges presented by the pandemic.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and the Society for Science & the Public announced winners of the Regeneron Science Talent Search 2020, awarding over $1.8 million in prizes to young innovators. Lillian Petersen won the top prize of $250,000 for her tool predicting crop yields, addressing food insecurity. Other notable projects included machine learning algorithms and eco-friendly industrial burners, showcasing youth contributions to science. The competition highlighted the importance of research in solving global challenges.

Regeneron Pharmaceuticals (NASDAQ: REGN) awarded $1.8 million to finalists of the 2020 Regeneron Science Talent Search, recognizing outstanding research by high school seniors. The top award of $250,000 went to Lillian Petersen from New Mexico for her tool predicting harvests, addressing food insecurity. Other notable projects include machine learning algorithms and eco-friendly gas burners. The competition, held virtually for the first time due to the pandemic, fosters scientific innovation among youth and has historically produced renowned science leaders.

Regeneron Pharmaceuticals (NASDAQ: REGN) announced that BARDA has agreed to procure its investigational Ebola treatment, REGN-EB3, as part of national health emergency preparedness. REGN-EB3, currently under FDA Priority Review with a decision due by October 25, 2020, is expected to generate approximately $10 million in 2021 and an average of $67 million annually from 2022 to 2026 if approved. This follows promising results from the PALM trial, demonstrating superior efficacy in preventing Ebola-related deaths compared to existing treatments.

Regeneron Pharmaceuticals (NASDAQ: REGN) will report its Q2 2020 financial and operating results on August 5, 2020, before U.S. markets open. A conference call and webcast will be held at 8:30 AM ET on the same day. Investors can access the call by dialing (888) 660-6127 (U.S.) or (973) 890-8355 (International). Regeneron is a biotechnology leader focused on inventing medicines for serious diseases, with a robust pipeline developed through their proprietary VelociSuite® technologies. For more information, visit www.regeneron.com.

Regeneron Pharmaceuticals (NASDAQ: REGN) announced a $450 million contract with BARDA and the U.S. Department of Defense to manufacture REGN-COV2, its dual antibody cocktail for COVID-19. As part of Operation Warp Speed, the contract facilitates production ahead of regulatory approval, with initial doses expected as early as summer 2020. The agreement includes plans for bulk lot completion by fall 2020, potentially providing 70,000 to 300,000 treatment doses and up to 1.3 million prevention doses. If approved, doses will be distributed at no cost to the American public.

Regeneron Pharmaceuticals (NASDAQ: REGN) announced the initiation of late-stage clinical trials for REGN-COV2, an investigational antibody cocktail aimed at treating and preventing COVID-19. A Phase 3 trial will focus on uninfected individuals with close exposure to COVID-19 patients, enrolling 2,000 participants. Additionally, two adaptive Phase 2/3 trials will evaluate the treatment's effectiveness in hospitalized and non-hospitalized patients, expecting preliminary data later this summer. Regeneron collaborates with NIAID to expedite this dual-antibody initiative.