Summary
Regeneron Pharmaceuticals, Inc. (REGN) has filed a Current Report (8-K) on January 8, 2024, providing a corporate update that includes preliminary fourth quarter 2023 financial insights and details on an acquired in-process research and development (IPR&D) charge. The company shared preliminary U.S. net product sales for EYLEA® HD (aflibercept) Injection 8 mg at approximately $123 million and for EYLEA® (aflibercept) Injection at approximately $1.34 billion for the fourth quarter of 2023. These figures indicate continued strong performance from the EYLEA franchise, with EYLEA HD contributing a significant initial amount. Additionally, Regeneron anticipates a $30 million pre-tax acquired IPR&D charge related to an extension of its collaboration with Intellia Therapeutics, Inc. This charge is expected to negatively impact both GAAP and non-GAAP net income per diluted share by approximately $0.21 for the fourth quarter. While these are preliminary, unaudited figures, the update provides investors with an early look at key revenue drivers and R&D investment impacting the company's financial performance.
Key Highlights
- 1Preliminary Q4 2023 U.S. net product sales for EYLEA® HD reached approximately $123 million.
- 2Preliminary Q4 2023 U.S. net product sales for EYLEA® (aflibercept) Injection were approximately $1.34 billion.
- 3Expects a $30 million pre-tax acquired IPR&D charge in Q4 2023 related to the Intellia Therapeutics collaboration.
- 4The IPR&D charge is expected to reduce Q4 2023 GAAP and non-GAAP diluted EPS by approximately $0.21.
- 5The corporate update was presented at the 42nd Annual J.P. Morgan Healthcare Conference.
- 6The filing includes a presentation furnished as an exhibit, containing further details on the corporate update.