Regeneron Pharmaceuticals Inc (NASDAQ:REGN) stock rose 1.93% (As on August 4, 11:41:09 AM UTC-4, Source: Google Finance) after the company posted better-than-expected second-quarter 2022 results, beating on both earnings and sales driven by strong growth in Eylea and Dupixent. In January 2022, the FDA had revised the authorizations for a few monoclonal antibody treatments, including Regeneron’s REGEN-COV (casirivimab and imdevimab), as data indicated that these treatments are highly unlikely to be active against the Omicron variant.  Therefore, REGEN-COV is not currently authorized for use in any U.S. states, territories or jurisdictions. Meanwhile, in June 2022, the U.S. Food and Drug Administration (FDA) approved Dupixent as the first biologic medicine for children aged 6 months to 5 years with moderate-to-severe atopic dermatitis. In May 2022, the FDA approved Dupixent for adults and adolescents aged 12 years and older with eosinophilic esophagitis (EoE). In April 2022, the European Commission (EC) approved Dupixent for the treatment of severe asthma in children aged 6 to 11 years. The Company and Sanofi announced positive results from a Phase 3 trial in children aged 1 to 11 years with EoE. The trial met its primary endpoint of histological disease remission at 16 weeks with both higher and lower dose weight-tiered regimens. The FDA has accepted for priority review the supplemental Biologics License Application (sBLA) for Dupixent for adults with prurigo nodularis, with a target action date of September 30, 2022. Regulatory applications have also been submitted in the European Union (EU) and Japan.

REGN in the second quarter of FY 22 has reported the adjusted earnings per share of $9.77, beating the analysts’ estimates for the adjusted earnings per share of $8.53, according to the Zacks Consensus Estimate. The company had reported 44 percent decline in the adjusted revenue to $2.8 billion in the second quarter of FY 22, beating the analysts’ estimates for revenue of $2.7 billion.

Moreover, lead drug Eylea’s sales in the United States were $1.6 billion compared with $1.4 billion in the year-ago quarter. Sanofi collaboration revenue increased by 55% to $678 million in the second quarter of 2022, compared to the second quarter of 2021. This increase was primarily due to the Company’s share of profits from commercialization of antibodies, which were $497 million in the second quarter of 2022, compared to $328 million in the second quarter of 2021.