Regeneron Pharmaceuticals, Inc. (REGN), a company discovering, inventing, developing, manufacturing, and commercializing medicines for treating various medical conditions, has increased 5.9% in aftermarket trading session and consequently was trading at $647.63 when last checked. On Friday, REGN closed the day at $611.54 after declining 5.57% during regular trading hours. The latest development related to the company is the announcement of quarterly results.
Q3 2021 Financial Results
On Thursday, REGN announced the financial results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated revenue of $3.45 billion during the quarter against $2.29 billion for the same period of 2020. The total operating expenses for the period were $1.60 billion against $1.24 billion for the same period of 2020. The company generated a net income of $1.63 billion during the quarter against $0.84 billion for the same period of 2020. The company had cash and cash equivalents of $5.45 billion on 30th September.
Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of REGN, while commenting on the results said that the company performed exceptionally well during the quarter. He hoped that the company would continue with positive momentum in the coming quarters.
Presentation at ASH Annual Meeting
On the same day, i.e. Thursday, REGN announced that the new and updated data from its diverse haematology program in blood cancers and disorders will be presented at the 2021 American Society of Hematology (ASH) Annual Meeting from December 11-14 in Atlanta, GA. Regeneron data at ASH include an oral presentation with updated Phase 1 results from the completed dose escalation for REGN5458, an investigational BCMAxCD3 bispecific antibody, in patients with heavily pre-treated multiple myeloma.
Future Outlook for REGN
During the last one month, REGN has increased more than 10%. Analysts are predicting the further rise in REGN stock based on the recent positive developments associated with it. So, potential investors should keep a close eye on the performance of REGN stock.