REGN Regeneron Pharmaceuticals Inc.

612.57
+1.68  (+0%)
Previous Close 610.89
Open 610.09
52 Week Low 271.37
52 Week High 664.64
Market Cap $65,172,788,793
Shares 106,392,394
Float 76,806,075
Enterprise Value $64,065,749,570
Volume 302,902
Av. Daily Volume 850,337
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Upcoming Catalysts

Drug Stage Catalyst Date
REGN-COV2
COVID-19 (Anti-viral antibody)
Phase 2/3
Phase 2/3
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Kevzara (sarilumab)
Coronavirus COVID-19
Phase 2/3
Phase 2/3
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REGN-EB3
Ebola
PDUFA priority review
PDUFA priority review
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Dupixent (dupilumab)
Asthma - 6-11 year-olds
Phase 3
Phase 3
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REGN1979
Follicular Lymphoma
Phase 1
Phase 1
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Dupixent (dupilumab)
Peanut Allergy
Phase 2
Phase 2
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REGN5458
Multiple Myeloma
Phase 1/2
Phase 1/2
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Pozelimab (REGN3918)
Paroxysmal nocturnal hemoglobinuria (PNH
Phase 2
Phase 2
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Evinacumab (ANGPTL3 Antibody)
Homozygous familial hypercholesterolemia (HoFH)
PDUFA priority review
PDUFA priority review
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Dupixent (dupilumab)
Prurigo nodularis (PN)
Phase 3
Phase 3
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Dupixent (dupilumab)
Bullous pemphigoid (BP)
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
Fasinumab
Osteoarthritis pain of the hip or knee
Phase 3
Phase 3
Phase 3 data achieved the co-primary endpoints for fasinumab 1 mg monthly. Fasinumab every two months did not reach statistical significance - August 5, 2020.
Praluent (alirocumab)
Homozygous familial hypercholesterolemia (HoFH)
sNDA Filing
sNDA Filing
sBLA filing has been submitted.
Kevzara (Sarilumab)
Coronavirus COVID-19
Phase 3
Phase 3
Phase 3 trial did not meet primary endpoint - July 2, 2020.
Dupixent (dupilumab)
Eosinophilic esophagitis
Phase 2/3
Phase 2/3
Data from Phase 2 portion of Phase 2/3 trial met co-primary endpoints - May 22, 2020.
Libtayo - Cemiplimab
Non-small cell lung cancer (NSCLC)
Phase 3
Phase 3
Phase 3 enrolment to be completed 2H 2020.
Dupixent (dupilumab)
Atopic dermatitis 6-11 year-olds
Approved
Approved
FDA Approval announced May 26, 2020.
Cemiplimab
Basal cell carcinoma
Phase 2
Phase 2
Phase 2 pivotal data showed objective response rate (ORR) of 29%. Regulatory submission due 2020
Cemiplimab
Non-small cell lung cancer (NSCLC)
Phase 3
Phase 3
Phase 3 trial stopped early due to significant improvement in overall survival - April 27, 2020.
REGN2810
Non-small cell lung cancer (NSCLC)
Phase 3
Phase 3
Phase 3 enrolling.
EYLEA - PROTOCOL-W
Diabetic Retinopathy
Phase 3
Phase 3
Phase 3 ongoing.
Garetosmab
Fibrodysplasia ossificans progressiva (FOP)
Phase 2
Phase 2
Phase 2 trial did not meet primary endpoint p=0.07 - January 9, 2020. Patient-reported flare-ups were reduced by 50% (nominal p=0.03).
Dupixent (dupilumab)
Nasal polyps
Approved
Approved
FDA Approval announced June 26, 2019.
Fasinumab
Osteoarthritis and chronic low back pain
Phase 2b
Phase 2b
Phase 2b placed on clinical hold. Phase 3 trial to be initiated that excludes patients with advanced osteoarthritis 2H 2017.
EYLEA - PANAROMA
Nonproliferative Diabetic Retinopathy
Approved
Approved
FDA Approval announced May 13, 2019.
Praluent (alirocumab) ODYSSEY OUTCOMES
Cardiovascular events
Approved
Approved
FDA approval announced April 26, 2019.
Dupixent (dupilumab)
Atopic dermatitis 12-17 year-olds
Approved
Approved
FDA approval announced March 11, 2019.
Dupixent (dupilumab)
Asthma
Approved
Approved
FDA approval announced October 19, 2018.
Cemiplimab
Cutaneous squamous cell carcinoma
Approved
Approved
FDA Approval announced September 28, 2018.
EYLEA
Wet AMD
Approved
Approved
FDA Approval announced August 17, 2018.
Sarilumab
Rheumatoid arthritis
Approved
Approved
CRL October 28, 2016. Resubmitted with FDA Approval announced May 22, 2017.
Dupixent (dupilumab)
Atopic dermatitis
Approved
Approved
Approved under priority review - March 28, 2017.
EYLEA + nesvacumab
Diabetic macular edema (DME)
Phase 2
Phase 2
Phase 2 data released November 27, 2017 - insufficient efficacy shown to warrant further development.
EYLEA + nesvacumab
AMD - age-related macular degeneration
Phase 2
Phase 2
Phase 2 data released November 27, 2017 - insufficient efficacy shown to warrant further development.
REGN2222
Respiratory syncytial virus (RSV)
Phase 3
Phase 3
Phase 3 data released August 14, 2017 - primary endpoint not met.
REGN2810
Cutaneous squamous cell carcinoma
Phase 2
Phase 2
Pivotal Phase 2/3 trial ongoing.
Praluent (alirocumab)
High low-density lipoprotein (LDL) cholesterol
Approved
Approved
sBLA Approval announced April 25, 2017.

Latest News

  1. TARRYTOWN, N.Y., Aug. 12, 2020 /PRNewswire/ --

    Homozygous familial hypercholesterolemia affects approximately 1,300 patients in the U.S., the vast majority of whom are unable to reach target LDL-C levels with currently available therapies

    Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) today announced that the U.S. Food and Drug Administration (FDA) has accepted for Priority Review a Biologics License Application (BLA) for evinacumab as an adjunct to other lipid-lowering therapies in patients with homozygous familial hypercholesterolemia (HoFH). Evinacumab is the first investigational medicine of its kind to show efficacy in patients with HoFH – including patients with little to no low-density lipoprotein (LDL) receptor function – by binding to…

    TARRYTOWN, N.Y., Aug. 12, 2020 /PRNewswire/ --

    Homozygous familial hypercholesterolemia affects approximately 1,300 patients in the U.S., the vast majority of whom are unable to reach target LDL-C levels with currently available therapies

    Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) today announced that the U.S. Food and Drug Administration (FDA) has accepted for Priority Review a Biologics License Application (BLA) for evinacumab as an adjunct to other lipid-lowering therapies in patients with homozygous familial hypercholesterolemia (HoFH). Evinacumab is the first investigational medicine of its kind to show efficacy in patients with HoFH – including patients with little to no low-density lipoprotein (LDL) receptor function – by binding to and blocking the function of angiopoietin-like 3 (ANGPTL3).

    The target action date for the FDA decision is February 11, 2021. The FDA granted evinacumab Breakthrough Therapy designation in 2017 for the treatment of hypercholesterolemia in patients with HoFH.

    HoFH is an ultra-rare inherited disease that affects approximately 1,300 patients in the U.S. Patients with HoFH have severely elevated levels of bad cholesterol (low-density lipoprotein cholesterol, or LDL-C), which increases their risk for premature atherosclerotic disease and cardiac events as early as their teenage years. Treatment guidelines recommend early and intensive LDL-C lowering, but patients with HoFH are less responsive (or unresponsive) to standard lipid-lowering therapies, including statins and PCSK9 (proprotein convertase subtilisin/kexin type 9) inhibitors.

    The BLA was supported by a pivotal Phase 3 trial evaluating the efficacy and safety of evinacumab in patients with HoFH. Results from this trial were presented as a late-breaking presentation at the American College of Cardiology's Annual Scientific Session together with World Congress of Cardiology (ACC.20) in March 2020.

    Previous research published in NEJM in 2017 by the Regeneron Genetics Center found that patients with loss-of-function mutations in their ANGPTL3 gene have significantly lower levels of key blood lipids, including LDL-C. By blocking the ANGPTL3 protein, evinacumab was designed to replicate this loss-of-function mutation effect to lower LDL-C in patients with HoFH.

    Regulatory submissions for evinacumab are also progressing in the European Union. In June 2020, the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) recommended an accelerated assessment for evinacumab based on the high unmet medical need and therapeutic innovation demonstrated by the product. The safety and efficacy of evinacumab have not been fully evaluated by any regulatory authority.

    About evinacumab and the ELIPSE HoFH Trial

    Regeneron invented evinacumab using the company's VelocImmune® technology, a proprietary genetically-engineered mouse platform endowed with a genetically-humanized immune system to produce optimized fully-human monoclonal antibodies. VelocImmune technology has been used to create multiple FDA-approved antibodies including Praluent® (alirocumab), Dupixent® (dupilumab), Libtayo® (cemiplimab-rwlc) and Kevzara® (sarilumab). Regeneron previously used these technologies to rapidly develop a treatment for Ebola virus infection, which is currently under review by the FDA, and is now being used in efforts to create prophylactic and treatment medicines for COVID-19.

    Evinacumab is an investigational fully-human monoclonal antibody that binds to and blocks the function of ANGPTL3 and is currently being studied in patients with HoFH (ongoing Phase 3 extension trial), refractory hypercholesterolemia (Phase 2) and severe hypertriglyceridemia (Phase 2).

    ELIPSE (Evinacumab LIPid StudiEs) HoFH was a multi-national Phase 3 randomized, double-blind, placebo-controlled, parallel-group trial evaluating the efficacy and safety of evinacumab 15 mg/kg administered intravenously every four weeks in 65 patients aged 12 years or older with HoFH (43 evinacumab, 22 placebo). The primary endpoint was reduction of LDL-C from baseline with evinacumab compared to placebo at 24 weeks.

    About Regeneron

    Regeneron (NASDAQ:REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to seven FDA-approved treatments and numerous product candidates in development, all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases and rare diseases. Regeneron is accelerating and improving the traditional drug development process through our proprietary VelociSuite® technologies, such as VelocImmune, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center, which is conducting one of the largest genetics sequencing efforts in the world. For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter.

    Regeneron Forward-Looking Statements and Use of Digital Media

    This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. ("Regeneron" or the "Company"), and actual events or results may differ materially from these forward-looking statements.  Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words.  These statements concern, and these risks and uncertainties include, among others, the impact of SARS-CoV-2 (the virus that has caused the COVID-19 pandemic) on Regeneron's business and its employees, collaborators, and suppliers and other third parties on which Regeneron relies, Regeneron's and its collaborators' ability to continue to conduct research and clinical programs, Regeneron's ability to manage its supply chain, net product sales of products marketed by Regeneron and/or its collaborators (collectively, "Regeneron's Products"), and the global economy; the nature, timing, and possible success and therapeutic applications of Regeneron's Products and Regeneron's product candidates and research and clinical programs now underway or planned, including without limitation evinacumab; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron's product candidates and new indications for Regeneron's Products, such as evinacumab for the treatment of patients with homozygous familial hypercholesterolemia, refractory hypercholesterolemia, or severe hypertriglyceridemia; uncertainty of market acceptance and commercial success of Regeneron's Products and product candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary) on the commercial success of Regeneron's Products and product candidates; safety issues resulting from the administration of Regeneron's Products and product candidates (such as evinacumab) in patients, including serious complications or side effects in connection with the use of Regeneron's Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's Products and product candidates, including without limitation evinacumab; ongoing regulatory obligations and oversight impacting Regeneron's Products, research and clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement of Regeneron's Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers and new policies and procedures adopted by such payers; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron's Products and product candidates; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; the ability of Regeneron to manufacture and manage supply chains for multiple products and product candidates; the ability of Regeneron's collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron's Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement, including Regeneron's agreements with Sanofi, Bayer, and Teva Pharmaceutical Industries Ltd. (or their respective affiliated companies, as applicable), to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA® (aflibercept) Injection, Dupixent® (dupilumab), and Praluent® (alirocumab)), other litigation and other proceedings and government investigations relating to the Company and/or its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron's business, prospects, operating results, and financial condition.  A more complete description of these and other material risks can be found in Regeneron's filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2019 and its Form 10-Q for the quarterly period ended June 30, 2020. Any forward-looking statements are made based on management's current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update publicly any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise. 

    Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron's media and investor relations website (http://newsroom.regeneron.com) and its Twitter feed (http://twitter.com/regeneron).

    Contacts:

    Media Relations

    Joseph Ricculli

    Tel: +1 (914) 418-0405

     

    Investor Relations

    Mark Hudson

    Tel: +1 (914) 355-0213

     

    Cision View original content:http://www.prnewswire.com/news-releases/fda-accepts-evinacumab-biologics-license-application-for-priority-review-as-a-treatment-for-patients-with-hofh-an-ultra-rare-inherited-form-of-high-cholesterol-301110441.html

    SOURCE Regeneron Pharmaceuticals, Inc.

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  2. TARRYTOWN, N.Y., Aug. 7, 2020 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) today announced the pricing of an underwritten offering of $1.250 billion aggregate principal amount of senior unsecured notes due 2030 (the "2030 notes") and $750 million aggregate principal amount of senior unsecured notes due 2050 (the "2050 notes" and, together with the 2030 notes, the "notes"). The 2030 notes will bear interest at 1.750% per annum and will mature on September 15, 2030. The 2050 notes will bear interest at 2.800% per annum and will mature on September 15, 2050. The issuance of the notes is expected to close on or around August 12, 2020, subject to customary closing conditions.

    Regeneron intends to use the net proceeds from the offering…

    TARRYTOWN, N.Y., Aug. 7, 2020 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) today announced the pricing of an underwritten offering of $1.250 billion aggregate principal amount of senior unsecured notes due 2030 (the "2030 notes") and $750 million aggregate principal amount of senior unsecured notes due 2050 (the "2050 notes" and, together with the 2030 notes, the "notes"). The 2030 notes will bear interest at 1.750% per annum and will mature on September 15, 2030. The 2050 notes will bear interest at 2.800% per annum and will mature on September 15, 2050. The issuance of the notes is expected to close on or around August 12, 2020, subject to customary closing conditions.

    Regeneron intends to use the net proceeds from the offering to repay in full the $1.5 billion principal amount of loans outstanding under the bridge facility incurred to fund a portion of the repurchase by Regeneron of shares of its common stock held by Sanofi in May 2020, and to pay accrued interest and related fees and expenses in connection therewith. The remainder will be used for other general corporate purposes.

    Goldman Sachs & Co. LLC, BofA Securities, and J.P. Morgan are acting as joint book-running managers for the offering. US Bancorp, Barclays, Citigroup, Fifth Third Securities, and MUFG are also acting as book-running managers for the offering. Bank of Ireland, Citizens Capital Markets, Loop Capital Markets, and PNC Capital Markets LLC are acting as co-managers for the offering. Regeneron has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering. Before you invest, you should read the prospectus in that registration statement and other documents Regeneron has filed and will file with the SEC, including the preliminary prospectus supplement filed by Regeneron with the SEC, for more complete information about Regeneron and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the preliminary prospectus supplement, when available, if you request them by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: (866) 471-2526, or via email: , BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at , and J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or toll free at (866) 803-9204.

    This announcement shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Regeneron Pharmaceuticals, Inc.

    Regeneron is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, Regeneron's unique ability to repeatedly and consistently translate science into medicine has led to seven FDA-approved treatments and numerous product candidates in development, all of which were homegrown in Regeneron's laboratories. Regeneron's medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases, and rare diseases.

    Regeneron is accelerating and improving the traditional drug development process through its proprietary VelociSuite® technologies, such as VelocImmune®, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center®, which is conducting one of the largest genetics sequencing efforts in the world.

    Forward-Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties relating to the completion, timing, and terms of the offering, and actual events or results may differ materially from these forward-looking statements. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Risks that may cause these forward-looking statements to be inaccurate include, among others: (i) whether we will be able to consummate the offering, (ii) the satisfaction of customary closing conditions with respect to the offering, (iii) prevailing market conditions, and (iv) the impact of general economic, industry, or political conditions in the United States or internationally, including as a result of, among other risks and uncertainties, the impact of SARS-CoV-2 (the virus that has caused the COVID-19 pandemic) on Regeneron's business and its employees, collaborators, and suppliers and other third parties on which Regeneron relies, Regeneron's and its collaborators' ability to continue to conduct research and clinical programs, Regeneron's ability to manage its supply chain, net product sales of products marketed by Regeneron and/or its collaborators (collectively, "Regeneron's Products"), and the global economy; the impact of the offering discussed in this press release on Regeneron's business and financial condition; the nature, timing, and possible success and therapeutic applications of Regeneron's Products and Regeneron's product candidates and research and clinical programs now underway or planned, including without limitation EYLEA® (aflibercept) Injection, Dupixent® (dupilumab), Libtayo® (cemiplimab), Praluent® (alirocumab), Kevzara® (sarilumab), fasinumab, evinacumab, REGN-EB3, garetosmab, pozelimab, REGN-COV2, Regeneron's oncology programs (including its costimulatory bispecific portfolio), Regeneron's earlier-stage programs, and the use of human genetics in Regeneron's research programs; the likelihood and timing of achieving any of Regeneron's anticipated development milestones; safety issues resulting from the administration of Regeneron's Products and product candidates in patients, including serious complications or side effects in connection with the use of Regeneron's Products and product candidates in clinical trials; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron's product candidates and new indications for Regeneron's Products, including without limitation EYLEA, Dupixent, Libtayo, Praluent, Kevzara, fasinumab, evinacumab, REGN-EB3, garetosmab, pozelimab, REGN-COV2, and REGN1979; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; ongoing regulatory obligations and oversight impacting Regeneron's Products (such as EYLEA, Dupixent, Libtayo, Praluent, and Kevzara), research and clinical programs, and business, including those relating to patient privacy; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's Products and product candidates; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron's Products and product candidates; uncertainty of market acceptance and commercial success of Regeneron's Products and product candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary) on the commercial success of Regeneron's Products and product candidates; the ability of Regeneron to manufacture and manage supply chains for multiple products and product candidates; the ability of Regeneron's collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron's Products and product candidates; the availability and extent of reimbursement of Regeneron's Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers and new policies and procedures adopted by such payers; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance, including without limitation capital expenditures, and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement, including Regeneron's agreements with Sanofi, Bayer, and Teva Pharmaceutical Industries Ltd. (or their respective affiliated companies, as applicable), to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA, Dupixent, and Praluent), other litigation and other proceedings and government investigations relating to the Company and/or its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron's business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron's filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2019 and its Form 10-Q for the quarterly period ended June 30, 2020. Any forward-looking statements are made based on management's current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update publicly any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

     

    Regeneron Contacts:

     



    Media Relations

    Alexandra Bowie

    Tel: +1 (202) 213-1643

     

    Investor Relations

    Justin Holko

    Tel: +1 (914) 847-7786

     

     

    Cision View original content:http://www.prnewswire.com/news-releases/regeneron-announces-pricing-of-public-offering-of-senior-unsecured-notes-301108551.html

    SOURCE Regeneron Pharmaceuticals, Inc.

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  3. TARRYTOWN, N.Y., Aug. 5, 2020 /PRNewswire/ -- 

    • Second quarter 2020 revenues increased 24% to $1.95 billion versus second quarter 2019(4)
    • Second quarter 2020 EYLEA® U.S. net sales were $1.11 billion
    • Second quarter 2020 Dupixent® global net sales(2), which are recorded by Sanofi, were $945 million
    • Second quarter 2020 GAAP diluted EPS was $7.61 and non-GAAP diluted EPS(1) was $7.16
    • Initiated Phase 2 and Phase 3 clinical trials of REGN-COV2 for the treatment and prevention of COVID-19
    • FDA approved Dupixent for children aged 6 to 11 years with moderate-to-severe atopic dermatitis
    • Dupixent eosinophilic esophagitis trial met co-primary endpoints and a second confirmatory Phase 3 trial in chronic obstructive pulmonary disease (COPD) was initiated
    • Completed

    TARRYTOWN, N.Y., Aug. 5, 2020 /PRNewswire/ -- 

    • Second quarter 2020 revenues increased 24% to $1.95 billion versus second quarter 2019(4)
    • Second quarter 2020 EYLEA® U.S. net sales were $1.11 billion
    • Second quarter 2020 Dupixent® global net sales(2), which are recorded by Sanofi, were $945 million
    • Second quarter 2020 GAAP diluted EPS was $7.61 and non-GAAP diluted EPS(1) was $7.16
    • Initiated Phase 2 and Phase 3 clinical trials of REGN-COV2 for the treatment and prevention of COVID-19
    • FDA approved Dupixent for children aged 6 to 11 years with moderate-to-severe atopic dermatitis
    • Dupixent eosinophilic esophagitis trial met co-primary endpoints and a second confirmatory Phase 3 trial in chronic obstructive pulmonary disease (COPD) was initiated
    • Completed secondary offering of approximately 13 million shares of common stock held by Sanofi and purchased 9.8 million shares from Sanofi

    Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial results for the second quarter of 2020 and provided a business update.

    "I'm very proud of how the Regeneron team has continued to drive important progress for patients, despite the significant challenges of the COVID-19 pandemic," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "We have advanced REGN-COV2, our antibody cocktail for COVID-19, into late-stage clinical studies in record time and are working to ensure supply is available later this year. We are continuing to drive strong performance with our marketed medicines, including EYLEA, Dupixent, and Libtayo, while also advancing research, development, and regulatory progress across a number of therapeutic areas including cancer, Type 2 inflammatory diseases, pain, and rare diseases."

    "Regeneron's business continues to be resilient during these times, delivering double digit top- and bottom-line growth in the second quarter," said Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of Regeneron. "Our strong balance sheet, improved competitive outlook, increasingly diversified commercial portfolio, and robust pipeline position Regeneron well for sustained long-term growth."

    Financial Highlights

    ($ in millions, except per share data)



    Q2 2020



    Q2 2019



    % Change

    Total revenues(4)



    $

    1,952





    $

    1,578





    24

    %

    GAAP net income



    $

    897





    $

    193





    365

    %

    GAAP net income per share - diluted



    $

    7.61





    $

    1.68





    353

    %

    Non-GAAP net income(1)



    $

    854





    $

    690





    24

    %

    Non-GAAP net income per share - diluted(1)



    $

    7.16





    $

    6.02





    19

    %

    Business Highlights

    Key Pipeline Progress

    Regeneron has more than 20 product candidates in clinical development, including five marketed products for which it is investigating additional indications. Updates from the clinical pipeline include:

    EYLEA® (aflibercept) Injection

    • Phase 3 studies exploring less frequent dosing intervals using a high-dose formulation of aflibercept in neovascular age-related macular degeneration (wet AMD) and diabetic macular edema (DME) were initiated.
    • In April 2020, the European Commission approved the EYLEA pre-filled syringe.

    Dupixent® (dupilumab)

    • In May 2020, the U.S. Food and Drug Administration (FDA) approved Dupixent as the first biologic medicine for children aged 6 to 11 years with moderate-to-severe atopic dermatitis.
    • In June 2020, the National Medical Products Administration (NMPA) in China approved Dupixent for adults with moderate-to-severe atopic dermatitis.
    • In May 2020, the Company and Sanofi announced positive results from Part A of the Phase 3 trial in patients 12 years and older with eosinophilic esophagitis (EoE). The trial met both of its co-primary endpoints, as well as all key secondary endpoints.
    • A Phase 3 study in pediatric patients with EoE was initiated.
    • In June 2020, the FDA approved a 300 mg single-dose pre-filled pen for Dupixent.
    • An ongoing Phase 3 trial in chronic obstructive pulmonary disease (COPD) patients with evidence of Type 2 inflammation met a blinded, stringent early efficacy threshold for continuation. Based on this result, a second confirmatory Phase 3 trial in COPD was initiated.

    REGN-COV2

    • The Company initiated clinical trials of REGN-COV2, its investigational two-antibody "cocktail" for the treatment and prevention of COVID-19.
    • Following review from the Independent Data Monitoring Committee (IDMC) of REGN-COV2 Phase 1 safety results, a Phase 3 trial to evaluate REGN-COV2's ability to prevent infection among uninfected people who have had close exposure to a COVID-19 patient (such as the patient's housemate) was initiated and is being run jointly with the National Institute of Allergy and Infectious Diseases (NIAID). In addition, REGN-COV2 moved into the Phase 2/3 portion of two adaptive Phase 1/2/3 trials testing the cocktail's ability to treat hospitalized and non-hospitalized patients with COVID-19. The Company plans to report initial virology and biomarker results from the REGN-COV2 treatment trials in September 2020.
    • Two papers were published in Science describing the creation of REGN-COV2 and highlighting the potential of REGN-COV2 to diminish the risk of viral escape by effectively binding to the virus's critical spike protein in two separate, non-overlapping locations.
    • Non-human primate data were provided as a pre-review publication online for REGN-COV2 showing that treatment with this antibody cocktail can prevent SARS-CoV-2 infection as well as treat infected animals by accelerating viral elimination.
    • The Company announced an agreement with the Biomedical Advanced Research and Development Authority (BARDA) of the U.S. Department of Health and Human Services (HHS) and the U.S. Department of Defense whereby the Company was awarded a $450 million contract to manufacture and supply filled and finished REGN-COV2 to the U.S. Government. The agreement provides for the Company to manufacture a fixed number of bulk lots beginning in the summer of 2020 and fill/finish and storage activities starting in the third quarter of 2020.

    Kevzara® (sarilumab)

    • The Company and Sanofi reported that the Regeneron-led U.S. Phase 3 study of Kevzara 400 mg in COVID-19 patients requiring mechanical ventilation did not meet its primary and key secondary endpoints. Based on the results, the U.S.-based trial has been stopped.

    Oncology Program

    • In April 2020, the Company and Sanofi announced that the primary endpoint was met in the Phase 3 trial of Libtayo® (cemiplimab) as monotherapy in first-line non-small cell lung cancer (NSCLC). In May 2020, the Company and Sanofi also announced that Libtayo demonstrated clinically-meaningful and durable responses in a pivotal, single-arm, open-label trial in patients with advanced basal cell carcinoma. The data from these trials will form the basis of regulatory submissions in the U.S. and European Union (EU) this year.
    • In May 2020, the Company and Sanofi announced new, longer-term data for Libtayo from a pivotal Phase 2 trial in advanced cutaneous squamous cell carcinoma (CSCC). These results demonstrate both longer durability and higher complete response rates than previously reported. Updated data from this trial have also been incorporated into the U.S. label.
    • A publication in Science Translational Medicine featured scientific findings highlighting the benefit demonstrated in preclinical research in combining the Company's novel class of CD28 costimulatory bispecific antibodies with Libtayo. In 2020, the Company plans to enroll patients in clinical trials investigating three different CD28 costimulatory bispecific candidates. Regeneron's first costimulatory bispecific trial, investigating the combination of PSMAxCD28 (REGN5678) and Libtayo for prostate cancer, is underway and has treated patients in several dose-escalation cohorts.

    Praluent® (alirocumab)

    • The Company submitted a supplemental Biologics License Application (sBLA) for homozygous familial hypercholesterolemia (HoFH) in adults.

    Evinacumab, an antibody to ANGPTL3

    • The Company completed the rolling BLA submission and a Marketing Authorization Application (MAA) was also submitted for HoFH.

    Fasinumab, an antibody to NGF

    • Two Phase 3 trials, FACT OA1 and FACT OA2, achieved the co-primary endpoints for fasinumab 1 mg monthly, demonstrating significant improvements in pain and physical function over placebo at week 16 and week 24, respectively. Fasinumab 1 mg monthly also showed nominally significant benefits in physical function in both trials and pain in one trial, when compared to the maximum FDA-approved prescription doses of non-steroidal anti-inflammatory drugs for osteoarthritis.
    • The FACT OA1 trial included an additional treatment arm, fasinumab 1 mg every two months, which showed numerical benefit over placebo, but did not reach statistical significance.
    • In initial safety analyses from the Phase 3 trials, there was an increase in arthropathies reported with fasinumab. In a sub-group of patients from one Phase 3 long-term safety trial, there was an increase in joint replacement with fasinumab 1 mg monthly treatment during the off-drug follow-up period, although this increase was not seen in the other trials to date. Additional longer-term safety data from the ongoing trials are being collected and are expected to be reported early next year.

    COVID-19 Business Impact Update

    • Regeneron maintains adequate market supply for all commercialized products. The Company's raw material supplies and contract manufacturing support have also remained stable.
    • The Company continues to evaluate the impact of the COVID-19 pandemic on an individual clinical trial basis and expects fully-recruited clinical studies to remain generally on track. After briefly pausing new enrollment in certain studies due to the pandemic, enrollment in both new and ongoing clinical studies started to resume as regions relaxed their restrictions and healthcare resources started to become more available for non-COVID-19 activities. However, there has been a resurgence of COVID-19 cases in many regions across the world, and any resurgence in the regions in which the Company or its collaborators conduct clinical trials may require the Company to adjust its expectations relating to the impacted studies.

    Corporate and Business Development Update

    • The Company and Sanofi entered into an agreement, effective April 1, 2020, to restructure its collaboration for Praluent. In the United States, the Company is now solely responsible for the development and commercialization of Praluent and records net product sales. The Company does not owe Sanofi royalties on net product sales of Praluent in the United States. Sanofi has sole responsibility for the development and commercialization of Praluent outside the United States, and pays the Company a 5% royalty on Praluent net product sales. 
    • In May 2020, a secondary offering of approximately 13 million shares of the Company's common stock held by Sanofi was completed. Concurrent with the secondary offering, the Company purchased approximately 9.8 million shares directly from Sanofi for an aggregate purchase amount of $5 billion. Pursuant to the offering and purchase, Sanofi disposed of all but 400,000 shares of the Company's common stock that it retained as of the closing date of such transactions.
    • In May 2020, the Company expanded its existing collaboration with Intellia Therapeutics, Inc. to provide the Company with rights to develop products for additional in vivo CRISPR/Cas9-based therapeutic targets and for the companies to jointly develop potential products for the treatment of hemophilia A and B. In addition, the Company also received non-exclusive rights to independently develop and commercialize ex vivo gene edited products. In connection with the agreement, the Company made a $70 million up-front payment and purchased Intellia common stock for $30 million.
    • In July 2020, HHS exercised its option under the existing agreement for the treatment of Ebola virus infection to provide additional funding for the manufacture and supply of REGN-EB3. REGN-EB3 is currently under priority review by the FDA, with a target action date of October 25, 2020. Contingent on FDA approval, Regeneron expects to deliver an established number of treatment doses over the course of approximately six years.

    Second Quarter 2020 Financial Results

    Effective January 1, 2020, Regeneron has implemented changes in the presentation of its financial statements related to certain reimbursements and other payments for products developed and commercialized with collaborators. The Company made these changes in presentation to better reflect the nature of the Company's costs incurred and revenues earned pursuant to arrangements with collaborators and to enhance the comparability of Regeneron's financial statements with industry peers. The change in presentation has been applied retrospectively. See note (4) below for further information.

    Revenues

    Total revenues increased by 24% to $1.952 billion in the second quarter of 2020, compared to $1.578 billion in the second quarter of 2019.

    EYLEA net product sales in the United States were $1.114 billion in the second quarter of 2020, compared to $1.160 billion in the second quarter of 2019. EYLEA's second quarter 2020 net product sales in the United States were negatively impacted by the COVID-19 pandemic. Overall distributor inventory levels for EYLEA in the United States remained within the Company's one-to-two-week targeted range.

    Total revenues also include Sanofi and Bayer collaboration revenues(2) of $513 million in the second quarter of 2020, compared to $353 million in the second quarter of 2019. Sanofi collaboration revenue increased primarily due to the Company's share of profits from commercialization of antibodies, which increased to $172 million in the second quarter of 2020 from $39 million in the second quarter of 2019. The change in the Company's share of profits from collaboration antibodies was primarily driven by higher Dupixent profits.

    Refer to Table 4 for a summary of collaboration revenue.

    Other revenues in the second quarter of 2020 include recognition of revenue in connection with the Company's agreements with BARDA related to funding of certain development activities for REGN-EB3 for the treatment of Ebola and antibodies for the treatment of COVID-19.

    Operating Expenses





    GAAP



    % Change



    Non-GAAP(1)



    % Change

    ($ in millions)



    Q2 2020



    Q2 2019





    Q2 2020



    Q2 2019



    Research and development (R&D)



    $

    722





    $

    886





    (19)

    %



    $

    580





    $

    426





    36

    %

    Selling, general, and

     administrative (SG&A)



    $

    348





    $

    295





    18

    %



    $

    301





    $

    252





    19

    %

    Cost of goods sold (COGS)



    $

    103





    $

    67





    54

    %



    $

    93





    $

    58





    60

    %

    Cost of collaboration and

    contract manufacturing (COCM)



    $

    173





    $

    79





    119

    %



    *





    *





    n/a



    Other operating (income)

    expense, net



    $

    (50)





    $

    (64)





    (22)

    %



    *





    *





    n/a































    * GAAP and non-GAAP amounts are equivalent as no non-GAAP adjustments have been recorded

    • GAAP R&D expenses in the second quarter of 2020 included $85 million in up-front payments in connection with the collaboration agreement with Intellia. GAAP R&D expenses in the second quarter of 2019 included a $400 million up-front payment in connection with the collaboration agreement with Alnylam Pharmaceuticals, Inc. Non-GAAP R&D expenses increased in the second quarter of 2020 principally due to additional costs incurred in connection with COVID-19 related development activities, higher headcount and headcount-related costs, and an increase in clinical manufacturing activities.
    • The higher GAAP and non-GAAP SG&A expenses in the second quarter of 2020 were primarily due to higher headcount-related costs, higher contributions to independent not-for-profit patient assistance organizations, and the Company no longer receiving Praluent-related cost reimbursements from Sanofi.
    • The increase in cost of collaboration and contract manufacturing in the second quarter of 2020 was primarily due to the recognition of manufacturing costs associated with higher sales of Dupixent, process validation costs in connection with manufacturing REGN-EB3 under the BARDA Ebola agreement, and recognition of costs in connection with manufacturing ex-U.S. commercial supplies of Praluent for Sanofi under the new agreement.
    • Other operating (income) expense, net, includes recognition of a portion of amounts previously deferred in connection with up-front and development milestone payments, as applicable, received in connection with the Company's collaborative arrangements.

    Other Financial Information

    GAAP other income (expense), net, includes the recognition of net unrealized gains on equity securities of $228 million in the second quarter of 2020, compared to net unrealized losses of $117 million in the second quarter of 2019. GAAP other income (expense), net, also includes the recognition of net realized gains on sales of debt securities.

    In the second quarter of 2020, the Company's GAAP effective tax rate was 2.4%, compared to 14.1% in the second quarter of 2019. The GAAP effective tax rate for the second quarter of 2020 was positively impacted, compared to the U.S. federal statutory rate, primarily by stock-based compensation, and, to a lesser extent, income earned in foreign jurisdictions with tax rates lower than the U.S. federal statutory rate and federal tax credits for research activities. In the second quarter of 2020, the non-GAAP effective tax rate was 0.9%, compared to 19.1% in the second quarter of 2019. The Company expects its full year 2020 GAAP effective tax rate to be 9–11% and its non-GAAP effective tax rate to be 10–12% (see financial guidance table below).

    GAAP net income per diluted share was $7.61 in the second quarter of 2020, compared to GAAP net income per diluted share of $1.68 in the second quarter of 2019. Non-GAAP net income per diluted share was $7.16 in the second quarter of 2020, compared to non-GAAP net income per diluted share of $6.02 in the second quarter of 2019. A reconciliation of the Company's GAAP to non-GAAP results is included in Table 3 of this press release.

    As described above, during the second quarter of 2020, the Company purchased 9,806,805 shares of Common Stock from Sanofi and recorded the cost of the shares received, or $5 billion, as Treasury Stock.

    The Company generated $943 million of net cash provided by operating activities in the second quarter of 2020, compared to $188 million in the second quarter of 2019, which led to $814 million in free cash flow for the second quarter of 2020, compared to $94 million for the second quarter of 2019.

    2020 Financial Guidance(3)

    The Company's full year 2020 financial guidance consists of the following components:





    GAAP



    Non-GAAP(1)

    R&D



    $2.605 billion–$2.725 billion

    (previously $2.150 billion–

    $2.310 billion)



    $2.270 billion–$2.370 billion

    (previously $1.900 billion–

    $2.040 billion)

    SG&A



    $1.400 billion–$1.480 billion

    (previously $1.380 billion–

    $1.500 billion)



    $1.210 billion–$1.270 billion

    (previously $1.190 billion–

    $1.290 billion)

    COGS



    $490 million–$540 million

    (previously $350 million–

    $420 million)



    $445 million–$485 million

    (previously $295 million–

    $355 million)

    COCM(5)



    $600 million–$660 million

    (previously $600 million–

    $700 million)



    *

    Other operating (income)

    expense, net



    ($180) million–($205) million

    (previously ($175) million–

    ($205) million)



    *

    Capital expenditures



    $540 million–$590 million

    (previously $510 million–

    $590 million)



    *

    Effective tax rate (ETR)



    9–11%

    (previously 10–12%)



    10–12%

    (previously 12–14%)











    * GAAP and non-GAAP amounts are equivalent as no non-GAAP adjustments have been or are

    expected to be recorded.

    A reconciliation of full year 2020 GAAP to Non-GAAP financial guidance is included below:





    Projected Range



    (In millions)



    Low



    High



    GAAP R&D



    $

    2,605





    $

    2,725





    R&D: Non-cash share-

    based compensation

    expense



    (250)





    (270)





    R&D: Up-front payments

    related to license and

    collaboration agreements



    (85)





    (85)





    Non-GAAP R&D



    $

    2,270





    $

    2,370

















    GAAP SG&A



    $

    1,400





    $

    1,480





    SG&A: Non-cash share-

    based compensation

    expense



    (160)





    (180)





    SG&A: Litigation

    contingencies and

    restructuring-related

    expenses



    (30)





    (30)





    Non-GAAP SG&A



    $

    1,210





    $

    1,270

















    GAAP COGS



    $

    490





    $

    540





    COGS: Non-cash share-

    based compensation

    expense



    (44)





    (54)





    COGS: Other



    (1)





    (1)





    Non-GAAP COGS



    $

    445





    $

    485

















    GAAP ETR



    9

    %



    11

    %



    Income tax effect of GAAP

    to non-GAAP reconciling

    items and other



    1

    %



    1

    %



    Non-GAAP ETR



    10

    %



    12

    %



     

    (1)

    This press release uses non-GAAP R&D, non-GAAP SG&A, non-GAAP COGS, non-GAAP other income (expense) net, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income per share, and free cash flow, which are financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures are computed by excluding certain non-cash and/or other items from the related GAAP financial measure. The Company also includes a non-GAAP adjustment for the estimated income tax effect of reconciling items.

     

    The Company makes such adjustments for items the Company does not view as useful in evaluating its operating performance. For example, adjustments may be made for items that fluctuate from period to period based on factors that are not within the Company's control (such as the Company's stock price on the dates share-based grants are issued or changes in the fair value of the Company's equity investments) or items that are not associated with normal, recurring operations (such as restructuring-related expenses, including employee separation costs). Management uses these non-GAAP measures for planning, budgeting, forecasting, assessing historical performance, and making financial and operational decisions, and also provides forecasts to investors on this basis. With respect to free cash flows, the Company believes that this non-GAAP measure provides a further measure of the Company's operations' ability to generate cash flows. Additionally, such non-GAAP measures provide investors with an enhanced understanding of the financial performance of the Company's core business operations. However, there are limitations in the use of these and other non-GAAP financial measures as they exclude certain expenses that are recurring in nature. Furthermore, the Company's non-GAAP financial measures may not be comparable with non-GAAP information provided by other companies. Any non-GAAP financial measure presented by Regeneron should be considered supplemental to, and not a substitute for, measures of financial performance prepared in accordance with GAAP. A reconciliation of the Company's historical GAAP to non-GAAP results is included in Table 3 of this press release.





    (2)

    The Company's collaborators provide it with estimates of the collaborators' respective sales and the Company's share of the profits or losses from commercialization of products for the most recent fiscal quarter. The Company's estimates for such quarter are reconciled to actual results in the subsequent fiscal quarter, and the Company's share of the profit or loss is adjusted on a prospective basis accordingly, if necessary.





    (3)

    The Company's 2020 financial guidance does not assume the completion of any significant business development transactions not completed as of the date of this press release.





    (4)

    Applicable amounts previously reported for the three and six months ended June 30, 2019 and as of December 31, 2019 have been revised to reflect a change in presentation of cost reimbursements from collaborators who are not deemed to be the Company's customers from collaboration revenue to a reduction of the corresponding operating expense. The Company also changed the presentation of amounts recognized in connection with up-front and development milestone payments received from collaboration revenue to Other operating income, as well as the presentation of the corresponding balance sheet accounts. The revisions were reclassifications only and had no impact on the Company's previously reported GAAP and non-GAAP net income and net income per share. Refer to the Company's Form 10-Q for the quarterly period ended June 30, 2020 (Note 1 of the Notes to Condensed Consolidated Financial Statements) for further details.





    (5)

    Corresponding reimbursements from collaborators and others for manufacturing of commercial supplies is recorded within revenues.





    Conference Call Information

    Regeneron will host a conference call and simultaneous webcast to discuss its second quarter 2020 financial and operating results on Wednesday, August 5, 2020, at 8:30 AM. To access this call, dial (888) 660-6127 (U.S.) or (973) 890-8355 (International). A link to the webcast may be accessed from the "Investors and Media" page of Regeneron's website at www.regeneron.com. A replay of the conference call and webcast will be archived on the Company's website and will be available for at least 30 days.

    About Regeneron Pharmaceuticals, Inc.

    Regeneron is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, Regeneron's unique ability to repeatedly and consistently translate science into medicine has led to seven FDA-approved treatments and numerous product candidates in development, all of which were homegrown in Regeneron's laboratories. Regeneron's medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases, and rare diseases. 

    Regeneron is accelerating and improving the traditional drug development process through its proprietary VelociSuite® technologies, such as VelocImmune®, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center®, which is conducting one of the largest genetics sequencing efforts in the world.

    For additional information about the Company, please visit www.regeneron.com or follow @Regeneron on Twitter.

    Forward-Looking Statements and Use of Digital Media

    This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. ("Regeneron" or the "Company"), and actual events or results may differ materially from these forward-looking statements. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the impact of SARS-CoV-2 (the virus that has caused the COVID-19 pandemic) on Regeneron's business and its employees, collaborators, and suppliers and other third parties on which Regeneron relies, Regeneron's and its collaborators' ability to continue to conduct research and clinical programs, Regeneron's ability to manage its supply chain, net product sales of products marketed by Regeneron and/or its collaborators (collectively, "Regeneron's Products"), and the global economy; the nature, timing, and possible success and therapeutic applications of Regeneron's Products and Regeneron's product candidates and research and clinical programs now underway or planned, including without limitation EYLEA® (aflibercept) Injection, Dupixent® (dupilumab), Libtayo® (cemiplimab), Praluent® (alirocumab), Kevzara® (sarilumab), fasinumab, evinacumab, REGN-EB3, garetosmab, pozelimab, REGN-COV2, Regeneron's oncology programs (including its costimulatory bispecific portfolio), Regeneron's earlier-stage programs, and the use of human genetics in Regeneron's research programs; the likelihood and timing of achieving any of the anticipated milestones described in this press release; safety issues resulting from the administration of Regeneron's Products and product candidates in patients, including serious complications or side effects in connection with the use of Regeneron's Products and product candidates in clinical trials; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron's product candidates and new indications for Regeneron's Products, including without limitation EYLEA, Dupixent, Libtayo, Praluent, Kevzara, evinacumab, fasinumab, REGN-COV2, and REGN5678; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; ongoing regulatory obligations and oversight impacting Regeneron's Products (such as EYLEA, Dupixent, Libtayo, Praluent, and Kevzara), research and clinical programs, and business, including those relating to patient privacy; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's Products and product candidates; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron's Products and product candidates; uncertainty of market acceptance and commercial success of Regeneron's Products and product candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary), on the commercial success of Regeneron's Products and product candidates; the ability of Regeneron to manufacture and manage supply chains for multiple products and product candidates; the ability of Regeneron's collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron's Products and product candidates; the availability and extent of reimbursement of Regeneron's Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers and new policies and procedures adopted by such payers; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance, including GAAP and non-GAAP R&D, GAAP and non-GAAP SG&A, GAAP and non-GAAP COGS, COCM, other operating (income) expense, net, capital expenditures, and GAAP and non-GAAP effective tax rate; the potential for any license or collaboration agreement, including Regeneron's agreements with Sanofi, Bayer, and Teva Pharmaceutical Industries Ltd. (or their respective affiliated companies, as applicable), to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA, Dupixent, and Praluent), other litigation and other proceedings and government investigations relating to the Company and/or its operations (including the pending civil litigation initiated by the U.S. Attorney's Office for the District of Massachusetts), the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron's business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron's filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2019 and its Form 10-Q for the quarterly period ended June 30, 2020. Any forward-looking statements are made based on management's current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update publicly any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

    Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron's media and investor relations website (http://newsroom.regeneron.com) and its Twitter feed (http://twitter.com/regeneron).

    Non-GAAP Financial Measures

    This press release and/or the financial results attached to this press release include amounts that are considered "non-GAAP financial measures" under SEC rules. As required, Regeneron has provided reconciliations of such non-GAAP financial measures.

    Contact Information:











    Justin Holko



    Hala Mirza

    Investor Relations



    Corporate Communications

    914-847-7786



    914-847-3422



     

    TABLE 1



    REGENERON PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

    (In millions)







    June 30,



    December 31,





    2020



    2019*

    Assets:









    Cash and marketable securities



    $

    5,731.8





    $

    6,471.1



    Accounts receivable - trade, net



    1,991.0





    2,100.0



    Accounts receivable - Sanofi and other



    820.3





    685.6



    Inventories



    1,640.9





    1,415.5



    Property, plant, and equipment, net



    3,031.4





    2,890.4



    Deferred tax assets



    774.0





    824.2



    Other assets



    439.3





    418.4



    Total assets



    $

    14,428.7





    $

    14,805.2













    Liabilities and stockholders' equity:









    Accounts payable, accrued expenses, and other liabilities



    $

    2,589.1





    $

    2,514.2



    Debt



    1,500.0







    Deferred revenue



    566.3





    487.4



    Finance lease liabilities



    715.9





    713.9



    Stockholders' equity



    9,057.4





    11,089.7



    Total liabilities and stockholders' equity



    $

    14,428.7





    $

    14,805.2





    * Certain revisions have been made to the previously reported December 31, 2019 amounts. See note (4) above.

     

    TABLE 2



    REGENERON PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

    (In millions, except per share data)







    Three Months Ended

    June 30,



    Six Months Ended

    June 30,





    2020



    2019*



    2020



    2019*

    Revenues:

















    Net product sales



    $

    1,226.9





    $

    1,205.3





    $

    2,463.6





    $

    2,309.7



    Sanofi collaboration revenue



    269.1





    75.8





    516.0





    57.8



    Bayer collaboration revenue



    244.2





    277.2





    525.6





    541.2



    Other revenue



    211.8





    19.5





    275.0





    41.7







    1,952.0





    1,577.8





    3,780.2





    2,950.4



    Expenses:

















    Research and development



    722.0





    885.5





    1,305.9





    1,371.6



    Selling, general, and administrative



    348.3





    294.6





    715.6





    585.7



    Cost of goods sold



    102.5





    67.0





    181.3





    137.9



    Cost of collaboration and contract manufacturing



    173.0





    78.8





    311.5





    180.0



    Other operating (income) expense, net



    (50.2)





    (63.7)





    (90.6)





    (120.4)







    1,295.6





    1,262.2





    2,423.7





    2,154.8





















    Income from operations



    656.4





    315.6





    1,356.5





    795.6





















    Other income (expense), net



    262.5





    (90.9)





    231.0





    (24.8)





















    Income before income taxes



    918.9





    224.7





    1,587.5





    770.8





















    Income tax expense



    21.6





    31.6





    65.6





    116.6





















    Net income



    $

    897.3





    $

    193.1





    $

    1,521.9





    $

    654.2





















    Net income per share - basic



    $

    8.19





    $

    1.77





    $

    13.87





    $

    6.00



    Net income per share - diluted



    $

    7.61





    $

    1.68





    $

    13.03





    $

    5.69





















    Weighted average shares outstanding - basic



    109.6





    109.2





    109.7





    109.1



    Weighted average shares outstanding - diluted



    117.9





    114.6





    116.8





    115.0













    * Certain revisions have been made to the previously reported June 30, 2019 amounts. See note (4) above.

     

    TABLE 3



    REGENERON PHARMACEUTICALS, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (Unaudited)

    (In millions, except per share data)







    Three Months Ended

    June 30,



    Six Months Ended

    June 30,





    2020



    2019



    2020



    2019

    GAAP R&D



    $

    722.0





    $

    885.5





    $

    1,305.9





    $

    1,371.6



    R&D: Non-cash share-based compensation expense



    56.9





    59.3





    113.6





    118.0



    R&D: Up-front payments related to license and collaboration agreements



    85.0





    400.0





    85.0





    400.0



    Non-GAAP R&D



    $

    580.1





    $

    426.2





    $

    1,107.3





    $

    853.6





















    GAAP SG&A



    $

    348.3





    $

    294.6





    $

    715.6





    $

    585.7



    SG&A: Non-cash share-based compensation expense



    38.2





    37.7





    78.5





    81.5



    SG&A: Litigation contingencies and restructuring-related expenses



    8.7





    5.0





    28.9





    10.0



    Non-GAAP SG&A



    $

    301.4





    $

    251.9





    $

    608.2





    $

    494.2





















    GAAP COGS



    $

    102.5





    $

    67.0





    $

    181.3





    $

    137.9



    COGS: Non-cash share-based compensation expense



    8.4





    8.8





    17.2





    14.2



    COGS: Other



    0.9









    0.9







    Non-GAAP COGS



    $

    93.2





    $

    58.2





    $

    163.2





    $

    123.7





















    GAAP other income (expense), net



    $

    262.5





    $

    (90.9)





    $

    231.0





    $

    (24.8)



    Other income/expense: (Gains) losses on investments



    (256.1)





    116.9





    (199.3)





    74.1



    Interest expense: Other



    1.5









    1.5







    Non-GAAP other income (expense), net



    $

    7.9





    $

    26.0





    $

    33.2





    $

    49.3





















    GAAP net income



    $

    897.3





    $

    193.1





    $

    1,521.9





    $

    654.2



    Total of GAAP to non-GAAP reconciling items above



    (56.5)





    627.7





    126.3





    697.8



    Income tax effect of GAAP to non-GAAP reconciling items



    13.6





    (130.8)





    (23.2)





    (144.3)



    Non-GAAP net income



    $

    854.4





    $

    690.0





    $

    1,625.0





    $

    1,207.7





















    Non-GAAP net income per share - basic



    $

    7.80





    $

    6.32





    $

    14.81





    $

    11.07



    Non-GAAP net income per share - diluted



    $

    7.16





    $

    6.02





    $

    13.70





    $

    10.50





















    Shares used in calculating:

















    Non-GAAP net income per share - basic



    109.6





    109.2





    109.7





    109.1



    Non-GAAP net income per share - diluted



    119.3





    114.6





    118.6





    115.0





















    Effective tax rate reconciliation:

















    GAAP effective tax rate



    2.4

    %



    14.1

    %



    4.1

    %



    15.1

    %

    Income tax effect of GAAP to non-GAAP reconciling items



    (1.5)

    %



    5.0

    %



    1.1

    %



    2.7

    %

    Non-GAAP effective tax rate



    0.9

    %



    19.1

    %



    5.2

    %



    17.8

    %



















    Free cash flow reconciliation:

















    Net cash provided by operating activities



    $

    943.4





    $

    188.3





    $

    1,641.4





    $

    1,085.3



    Capital expenditures



    (129.9)





    (94.6)





    (300.0)





    (168.9)







    $

    813.5





    $

    93.7





    $

    1,341.4





    $

    916.4



     

    TABLE 4



    REGENERON PHARMACEUTICALS, INC.

    COLLABORATION REVENUE (Unaudited)

    (In millions)







    Three Months Ended

    June 30,



    Six Months Ended

    June 30,





    2020



    2019*



    2020



    2019*

    Sanofi collaboration revenue:

















    Antibody:

















    Regeneron's share of profits in connection with commercialization of antibodies



    $

    171.9





    $

    38.8





    $

    342.8





    $

    11.0



    Reimbursement for manufacturing of commercial supplies



    100.6





    43.9





    180.7





    58.4



    Immuno-oncology:

















    Regeneron's share of losses in connection with commercialization of Libtayo outside the United States



    (6.4)





    (6.9)





    (12.6)





    (11.6)



    Reimbursement for manufacturing of commercial supplies



    3.0









    5.1







    Total Sanofi collaboration revenue



    $

    269.1





    $

    75.8





    $

    516.0





    $

    57.8





















    Bayer collaboration revenue:

















    Regeneron's net profit in connection with commercialization of EYLEA outside the United States



    $

    230.9





    $

    269.0





    $

    484.7





    $

    518.3



    Reimbursement for manufacturing of commercial supplies



    13.3





    8.2





    40.9





    22.9



    Total Bayer collaboration revenue



    $

    244.2





    $

    277.2





    $

    525.6





    $

    541.2













    * Certain revisions have been made to the previously reported June 30, 2019 amounts. See note (4) above.

     

    TABLE 5



    REGENERON PHARMACEUTICALS, INC.

    NET PRODUCT SALES OF REGENERON-DISCOVERED PRODUCTS (Unaudited)

    (In millions)







    Net Product

    Sales

    Recorded

    by

    Regeneron



    Three Months Ended

    June 30,











    2020



    2019



    % Change







    U.S.



    ROW



    Total



    U.S.



    ROW



    Total



    (Total Sales)

    EYLEA(a)



    U.S.



    $

    1,113.7





    $

    641.0





    $

    1,754.7





    $

    1,160.3





    $

    715.3





    $

    1,875.6





    (6)

    %

    Dupixent



    (b)



    $

    770.4





    $

    174.6





    $

    945.0





    $

    454.7





    $

    102.6





    $

    557.3





    70

    %

    Libtayo(b)



    U.S.



    $

    63.3





    $

    16.7





    $

    80.0





    $

    40.8









    $

    40.8





    96

    %

    Praluent(c)



    U.S.



    $

    47.2





    $

    39.4





    $

    86.6





    $

    26.5





    $

    47.2





    $

    73.7





    18

    %

    Kevzara



    (b)



    $

    36.5





    $

    31.8





    $

    68.3





    $

    34.2





    $

    24.3





    $

    58.5





    17

    %

    ZALTRAP



    (b)



    $

    1.7





    $

    25.0





    $

    26.7





    $

    1.3





    $

    25.3





    $

    26.6





    %

    ARCALYST



    U.S.



    $

    2.7









    $

    2.7





    $

    4.2









    $

    4.2





    (36)

    %







































    Net Product Sales Recorded by Regeneron



    Six Months Ended

    June 30,











    2020



    2019



    % Change







    U.S.



    ROW



    Total



    U.S.



    ROW



    Total



    (Total Sales)

    EYLEA(a)



    U.S.



    $

    2,285.7





    $

    1,322.7





    $

    3,608.4





    $

    2,234.4





    $

    1,384.7





    $

    3,619.1





    %

    Dupixent



    (b)



    $

    1,449.4





    $

    350.8





    $

    1,800.2





    $

    757.7





    $

    173.3





    $

    931.0





    93

    %

    Libtayo(b)



    U.S.



    $

    125.0





    $

    29.8





    $

    154.8





    $

    67.6









    $

    67.6





    129

    %

    Praluent(c)



    U.S.



    $

    82.3





    $

    84.1





    $

    166.4





    $

    49.4





    $

    88.2





    $

    137.6





    21

    %

    Kevzara



    (b)



    $

    71.8





    $

    56.6





    $

    128.4





    $

    54.9





    $

    37.3





    $

    92.2





    39

    %

    ZALTRAP



    (b)



    $

    3.2





    $

    51.5





    $

    54.7





    $

    1.8





    $

    49.3





    $

    51.1





    7

    %

    ARCALYST



    U.S.



    $

    5.7









    $

    5.7





    $

    7.7









    $

    7.7





    (26)

    %



































    (a) Regeneron records net product sales of EYLEA in the United States. Bayer records net product sales of EYLEA outside the United States. The Company records its share of profits/losses in connection with sales of EYLEA outside the United States.

    (b) Regeneron records net product sales of Libtayo in the United States. Sanofi records net product sales of Libtayo outside the United States and global net product sales of Dupixent, Kevzara, and ZALTRAP. The Company records its share of profits/losses in connection with (i) sales of Libtayo outside the United States, and (ii) global sales of Dupixent and Kevzara, within collaboration revenue (see Table 4). Sanofi pays the Company a percentage of net sales of ZALTRAP. 

    (c) Effective April 1, 2020, Regeneron records net product sales of Praluent in the United States. Also effective April 1, 2020, Sanofi records net product sales of Praluent outside the United States and pays the Company a royalty on such sales. Previously, Sanofi recorded global net product sales of Praluent and the Company recorded its share of profits/losses in connection with such sales. Refer to "Business Development Update" section above for further details.

     

    Cision View original content:http://www.prnewswire.com/news-releases/regeneron-reports-second-quarter-2020-financial-and-operating-results-301106192.html

    SOURCE Regeneron Pharmaceuticals

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  4. TARRYTOWN, N.Y. and WASHINGTON, July 29, 2020 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science & the Public announced that Lillian Petersen, 17, of Los Alamos, New Mexico won the $250,000 top award in the Regeneron Science Talent Search 2020, the nation's oldest and most prestigious science and math competition for high school seniors. For the first time in its 78-year history, the competition took place virtually, in order to keep finalists and their families safe during the ongoing coronavirus pandemic. Forty finalists, including Lillian, were honored tonight during a virtual award ceremony. More than $1.8 million was awarded to the finalists, who were evaluated based on the scientific rigor of their projects…

    TARRYTOWN, N.Y. and WASHINGTON, July 29, 2020 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science & the Public announced that Lillian Petersen, 17, of Los Alamos, New Mexico won the $250,000 top award in the Regeneron Science Talent Search 2020, the nation's oldest and most prestigious science and math competition for high school seniors. For the first time in its 78-year history, the competition took place virtually, in order to keep finalists and their families safe during the ongoing coronavirus pandemic. Forty finalists, including Lillian, were honored tonight during a virtual award ceremony. More than $1.8 million was awarded to the finalists, who were evaluated based on the scientific rigor of their projects, their exceptional problem-solving abilities and their potential to become scientific leaders.

    First place winner Lillian Petersen invented a simple tool for predicting harvests early in the growing season, which helps to improve food distribution planning and offers a promising resource to those working to address global food insecurity. Lillian first validated her tool, which analyzes daily satellite imagery using accepted measures of vegetation health, on known domestic crop data. She then tested it for countries in Africa and successfully predicted harvests with high accuracy against reported yields.

    Second place and $175,000 went to Jagdeep Bhatia, 18, of Green Brook, New Jersey for developing two fast and simple machine learning algorithms for computer programs that are attempting to learn new concepts under the tutelage of an instructor, either a computer or human. His algorithms do not only ask random questions but, like a savvy detective, ask just the right ones. His AI algorithms could help train robots and other automated devices faster and easier.

    Third place and $150,000 went to Brendan Crotty, 18, of Muskogee, Oklahoma for his project where he designed and built an efficient hybrid gas burner that could help reduce the ecological impact of industries like power generation and materials manufacturing. His specialized burner system operates at higher temperatures than current industrial burners yet emits 19 percent less polluting nitrogen dioxide gas. To build his model, Brendan had to become proficient in computer design software, metal casting and machining.

    "Congratulations to the Regeneron Science Talent Search 2020 winners," said Maya Ajmera, President and CEO of Society for Science & the Public, Publisher of Science News and 1985 Science Talent Search alumna. "Students like Lillian Petersen are the stewards of our future. The current pandemic has made it clear how important science is to our wellbeing. With these finalists at the forefront of scientific and engineering discovery, I know we are in good hands. They will be solving the world's most intractable problems."

    The Regeneron Science Talent Search provides a national stage for the best and brightest young minds to present their original research ideas to leading scientists. The competition celebrates the hard work and creativity of students who are using research as activism to spark conversation, effect change and lead many of society's most pressing issues.

    "I'm amazed by the tenacity of this year's Regeneron Science Talent Search finalists, many of whom are seeking solutions to our greatest global challenges, and who rolled with the punches while competing during an unprecedented global pandemic," said Leonard S. Schleifer, M.D., Ph.D., Co-Founder, President and Chief Executive Officer of Regeneron. "Congratulations to the winners, and welcome to the community of Science Talent Search alumni who have displayed remarkable scientific curiosity and leveraged their experience to make a difference in the sciences and beyond."

    Other top honors from the competition include:

    Fourth Place: Rupert Li of Portland, Oregon received a $100,000 award for his math theory project that resolved an abstract algebra question concerning the "abelian sandpile model" to explore the underlying algebraic structure of a group. His creative approach to a specific type of mathematical model defined on graphs suggests a new approach that other mathematicians studying similar problems may find useful.

    Fifth Place: Anaiah Thomas of Teaneck, New Jersey received a $90,000 award for her investigation on how the natural killer (NK) immune cells, CD56bright and CD56dim, are influenced by cancer cells – research that could one day lead to new cancer therapies. CD56bright NK cells stop CD56dim NK cells from attacking healthy tissue. When Anaiah cultured these NK cells together with cancer-derived fibroblast cells that can stimulate changes in their function, she found that NK cells can switch type based on their microenvironment.

    Sixth Place: Katherine St George of Merrick, New York received an $80,000 award for her study of the impact of diet and caffeine on seizures using fruit flies. A high-fat, low-carbohydrate ketogenic diet can lessen seizures caused by imbalances in certain neurotransmitters, while caffeine can increase them. Katherine fed her fruit flies different diets and exposed them to caffeine. She observed that flies fed a ketogenic diet were not as susceptible to caffeine-induced seizures, which may inform diet counseling for human seizure patients.

    Seventh Place: Alek Westover of Belmont, Massachusetts received a $70,000 award for his creation of a new parallel partition algorithm that he demonstrated can improve the speed of certain computations. He compared the performance of his algorithm to four others previously developed, and his algorithm performed better than each of them in at least one respect. Theoretical work such as this can be used to improve many computer applications, like those that facilitate database queries, by simultaneously providing speed and robustness.

    Eighth Place: Adriane Thompson of Westerville, Ohio received a $60,000 award for her project that identified new regulatory pathways in corn plants that may help to determine growth factors and predict yields for this vital crop. By noting where levels of gene expression changed in the main pathway that uses enzymes to turn off certain genes, she deduced which genes do not need the enzyme to maintain repression, thus indicating that they use novel pathways to regulate gene expression.

    Ninth Place: Rohan Wagh of Portland, Oregon received a $50,000 award for his development of a bacteria-powered sensor system that can send farmers up-to-date measurements of soil moisture and nutrient conditions, which could reduce the amount of irrigation water wasted. His design includes microbial fuel cell modules as sensors and an algorithm he wrote to interpret the data and generate a map of soil conditions. He believes his system could improve water use and increase crop yields for around $100 per acre.

    Tenth Place: Arjun Neervannan of Irvine, California received a $40,000 award for his development of an AI software designed to identify hateful or toxic content, often a form of cyberbullying, online with less bias than current programs. Algorithms with built-in biases that associate toxicity with racial, gender and other such identity terms can result in inappropriate censoring of productive discussions. Arjun believes his scalable, automated debiasing process produces a more accurate and fair AI model.

    The remaining 30 finalists each received $25,000. These students will join the ranks of other Science Talent Search alumni, many of whom have gone on to have world-changing careers in STEM fields, and some of whom have earned the most esteemed honors in science and math, including the Nobel Prize, National Medal of Science and MacArthur Foundation Fellowships. In total, Regeneron awarded $3.1 million in prizes through the Regeneron Science Talent Search 2020, including $2,000 to each of the top scholars and their schools.

    About the Regeneron Science Talent Search

    The Regeneron Science Talent Search, a program of Society for Science & the Public since 1942, is the nation's oldest and most prestigious science and math competition for high school seniors. Each year, around 2,000 student entrants submit original research in critically important scientific fields of study and are judged by leading experts in their fields. Unique among high school competitions in the U.S. and around the world, the Regeneron Science Talent Search focuses on identifying, inspiring and engaging the nation's most promising young scientists who are creating the ideas that could solve society's most urgent challenges.

    In 2017, Regeneron became only the third sponsor of the Science Talent Search (following Westinghouse and Intel) as a way to help reward and celebrate the best and brightest young minds and encourage them to pursue careers in STEM as a way to positively impact the world. Through its 10-year, $100 million commitment, Regeneron nearly doubled the overall award distribution to $3.1 million annually, increasing the top award to $250,000 and doubling the awards for the top 300 scholars and their schools to $2,000 each to inspire more young people to engage in science.

    Program alumni include recipients of the world's most coveted science and math honors, including 11 National Medals of Science, five Breakthrough Prizes, 21 MacArthur Foundation Fellowships, two Fields Medals and 13 Nobel Prizes.

    Learn more at https://www.societyforscience.org/regeneron-sts/

    About Society for Science & the Public

    Society for Science & the Public is dedicated to the achievement of young scientists in independent research and to public engagement in science. Established in 1921, the Society is a nonprofit whose vision is to promote the understanding and appreciation of science and the vital role it plays in human advancement. Through its world-class competitions, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair, the Broadcom MASTERS, and its award-winning magazine, Science News and Science News for Students, Society for Science & the Public is committed to inform, educate, and inspire. Learn more at www.societyforscience.org and follow us on FacebookTwitterInstagram and Snapchat (Society4Science).

    About Regeneron

    Regeneron (NASDAQ:REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to seven FDA-approved treatments and numerous product candidates in development, all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases and rare diseases.

    Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most "community-minded" companies in the United States. Regeneron empowers and supports employees to give back through our volunteering, pro-bono and matching gift programs. Our most significant philanthropic commitments are in the area of science education, including the Regeneron Science Talent Search and Regeneron International Science and Engineering Fair.

    For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter.

    Media Contacts

    Ella Campbell, Regeneron

    914-572-4003,

    Gayle Kansagor, Society for Science & the Public

    703-489-1131,  

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/teen-scientists-win-1-8-million-at-virtual-regeneron-science-talent-search-2020-for-exemplary-research-on-predicting-crop-yield-machine-learning-algorithms-and-reducing-emissions-in-industrial-gas-burners-301102725.html

    SOURCE Society for Science & the Public

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  5. TARRYTOWN, N.Y. and WASHINGTON, July 29, 2020 /PRNewswire/ -- 

    $250,000 top award goes to Lillian Petersen of New Mexico in nation's oldest and most prestigious STEM competition for high school seniors

    Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science & the Public announced that Lillian Petersen, 17, of Los Alamos, New Mexico won the $250,000 top award in the Regeneron Science Talent Search 2020, the nation's oldest and most prestigious science and math competition for high school seniors. For the first time in its 78-year history, the competition took place virtually, in order to keep finalists and their families safe during the ongoing coronavirus pandemic. Forty finalists, including Lillian, were honored tonight during…

    TARRYTOWN, N.Y. and WASHINGTON, July 29, 2020 /PRNewswire/ -- 

    $250,000 top award goes to Lillian Petersen of New Mexico in nation's oldest and most prestigious STEM competition for high school seniors

    Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science & the Public announced that Lillian Petersen, 17, of Los Alamos, New Mexico won the $250,000 top award in the Regeneron Science Talent Search 2020, the nation's oldest and most prestigious science and math competition for high school seniors. For the first time in its 78-year history, the competition took place virtually, in order to keep finalists and their families safe during the ongoing coronavirus pandemic. Forty finalists, including Lillian, were honored tonight during a virtual award ceremony. More than $1.8 million was awarded to the finalists, who were evaluated based on the scientific rigor of their projects, their exceptional problem-solving abilities and their potential to become scientific leaders.

    First place winner Lillian Petersen invented a simple tool for predicting harvests early in the growing season, which helps to improve food distribution planning and offers a promising resource to those working to address global food insecurity. Lillian first validated her tool, which analyzes daily satellite imagery using accepted measures of vegetation health, on known domestic crop data. She then tested it for countries in Africa and successfully predicted harvests with high accuracy against reported yields.

    Second place and $175,000 went to Jagdeep Bhatia, 18, of Green Brook, New Jersey for developing two fast and simple machine learning algorithms for computer programs that are attempting to learn new concepts under the tutelage of an instructor, either a computer or human. His algorithms do not only ask random questions but, like a savvy detective, ask just the right ones. His AI algorithms could help train robots and other automated devices faster and easier.

    Third place and $150,000 went to Brendan Crotty, 18, of Muskogee, Oklahoma for his project where he designed and built an efficient hybrid gas burner that could help reduce the ecological impact of industries like power generation and materials manufacturing. His specialized burner system operates at higher temperatures than current industrial burners yet emits 19 percent less polluting nitrogen dioxide gas. To build his model, Brendan had to become proficient in computer design software, metal casting and machining.

    "Congratulations to the Regeneron Science Talent Search 2020 winners," said Maya Ajmera, President and CEO of Society for Science & the Public, Publisher of Science News and 1985 Science Talent Search alumna. "Students like Lillian Petersen are the stewards of our future. The current pandemic has made it clear how important science is to our wellbeing. With these finalists at the forefront of scientific and engineering discovery, I know we are in good hands. They will be solving the world's most intractable problems."

    The Regeneron Science Talent Search provides a national stage for the best and brightest young minds to present their original research ideas to leading scientists. The competition celebrates the hard work and creativity of students who are using research as activism to spark conversation, effect change and lead many of society's most pressing issues.

    "I'm amazed by the tenacity of this year's Regeneron Science Talent Search finalists, many of whom are seeking solutions to our greatest global challenges, and who rolled with the punches while competing during an unprecedented global pandemic," said Leonard S. Schleifer, M.D., Ph.D., Co-Founder, President and Chief Executive Officer of Regeneron. "Congratulations to the winners, and welcome to the community of Science Talent Search alumni who have displayed remarkable scientific curiosity and leveraged their experience to make a difference in the sciences and beyond."

    Other top honors from the competition include:

    Fourth Place: Rupert Li of Portland, Oregon received a $100,000 award for his math theory project that resolved an abstract algebra question concerning the "abelian sandpile model" to explore the underlying algebraic structure of a group. His creative approach to a specific type of mathematical model defined on graphs suggests a new approach that other mathematicians studying similar problems may find useful.

    Fifth Place: Anaiah Thomas of Teaneck, New Jersey received a $90,000 award for her investigation on how the natural killer (NK) immune cells, CD56bright and CD56dim, are influenced by cancer cells – research that could one day lead to new cancer therapies. CD56bright NK cells stop CD56dim NK cells from attacking healthy tissue. When Anaiah cultured these NK cells together with cancer-derived fibroblast cells that can stimulate changes in their function, she found that NK cells can switch type based on their microenvironment.

    Sixth Place: Katherine St George of Merrick, New York received an $80,000 award for her study of the impact of diet and caffeine on seizures using fruit flies. A high-fat, low-carbohydrate ketogenic diet can lessen seizures caused by imbalances in certain neurotransmitters, while caffeine can increase them. Katherine fed her fruit flies different diets and exposed them to caffeine. She observed that flies fed a ketogenic diet were not as susceptible to caffeine-induced seizures, which may inform diet counseling for human seizure patients.

    Seventh Place: Alek Westover of Belmont, Massachusetts received a $70,000 award for his creation of a new parallel partition algorithm that he demonstrated can improve the speed of certain computations. He compared the performance of his algorithm to four others previously developed, and his algorithm performed better than each of them in at least one respect. Theoretical work such as this can be used to improve many computer applications, like those that facilitate database queries, by simultaneously providing speed and robustness.

    Eighth Place: Adriane Thompson of Westerville, Ohio received a $60,000 award for her project that identified new regulatory pathways in corn plants that may help to determine growth factors and predict yields for this vital crop. By noting where levels of gene expression changed in the main pathway that uses enzymes to turn off certain genes, she deduced which genes do not need the enzyme to maintain repression, thus indicating that they use novel pathways to regulate gene expression.

    Ninth Place: Rohan Wagh of Portland, Oregon received a $50,000 award for his development of a bacteria-powered sensor system that can send farmers up-to-date measurements of soil moisture and nutrient conditions, which could reduce the amount of irrigation water wasted. His design includes microbial fuel cell modules as sensors and an algorithm he wrote to interpret the data and generate a map of soil conditions. He believes his system could improve water use and increase crop yields for around $100 per acre.

    Tenth Place: Arjun Neervannan of Irvine, California received a $40,000 award for his development of an AI software designed to identify hateful or toxic content, often a form of cyberbullying, online with less bias than current programs. Algorithms with built-in biases that associate toxicity with racial, gender and other such identity terms can result in inappropriate censoring of productive discussions. Arjun believes his scalable, automated debiasing process produces a more accurate and fair AI model.

    The remaining 30 finalists each received $25,000. These students will join the ranks of other Science Talent Search alumni, many of whom have gone on to have world-changing careers in STEM fields, and some of whom have earned the most esteemed honors in science and math, including the Nobel Prize, National Medal of Science and MacArthur Foundation Fellowships. In total, Regeneron awarded $3.1 million in prizes through the Regeneron Science Talent Search 2020, including $2,000 to each of the top scholars and their schools.

    About the Regeneron Science Talent Search

    The Regeneron Science Talent Search, a program of Society for Science & the Public since 1942, is the nation's oldest and most prestigious science and math competition for high school seniors. Each year, around 2,000 student entrants submit original research in critically important scientific fields of study and are judged by leading experts in their fields. Unique among high school competitions in the U.S. and around the world, the Regeneron Science Talent Search focuses on identifying, inspiring and engaging the nation's most promising young scientists who are creating the ideas that could solve society's most urgent challenges.

    In 2017, Regeneron became only the third sponsor of the Science Talent Search (following Westinghouse and Intel) as a way to help reward and celebrate the best and brightest young minds and encourage them to pursue careers in STEM as a way to positively impact the world. Through its 10-year, $100 million commitment, Regeneron nearly doubled the overall award distribution to $3.1 million annually, increasing the top award to $250,000 and doubling the awards for the top 300 scholars and their schools to $2,000 each to inspire more young people to engage in science.

    Program alumni include recipients of the world's most coveted science and math honors, including 11 National Medals of Science, five Breakthrough Prizes, 21 MacArthur Foundation Fellowships, two Fields Medals and 13 Nobel Prizes.

    Learn more at https://www.societyforscience.org/regeneron-sts/

    About Society for Science & the Public

    Society for Science & the Public is dedicated to the achievement of young scientists in independent research and to public engagement in science. Established in 1921, the Society is a nonprofit whose vision is to promote the understanding and appreciation of science and the vital role it plays in human advancement. Through its world-class competitions, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair, the Broadcom MASTERS, and its award-winning magazine, Science News and Science News for Students, Society for Science & the Public is committed to inform, educate, and inspire. Learn more at www.societyforscience.org and follow us on FacebookTwitterInstagram and Snapchat (Society4Science).

    About Regeneron

    Regeneron (NASDAQ:REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to seven FDA-approved treatments and numerous product candidates in development, all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases and rare diseases.

    Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most "community-minded" companies in the United States. Regeneron empowers and supports employees to give back through our volunteering, pro-bono and matching gift programs. Our most significant philanthropic commitments are in the area of science education, including the Regeneron Science Talent Search and Regeneron International Science and Engineering Fair.

    For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter.

    Media Contacts

    Ella Campbell, Regeneron

    914-572-4003,

    Gayle Kansagor, Society for Science & the Public

    703-489-1131,  

     

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    SOURCE Regeneron Pharmaceuticals, Inc.

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