| REGN |
Report |
Total revenue (2Q26) |
BEAT |
pred ~$3.90B vs. cons $3.82B |
MEDIUM |
| REGN |
Report |
Non-GAAP EPS (2Q26, incl. ~$1.00 IPR&D charge) |
BEAT |
pred ~$10.60 vs. cons $10.26 |
MEDIUM |
| REGN |
Report |
EYLEA HD U.S. net sales |
BEAT |
pred ~$505M vs. cons ~$490M |
MEDIUM |
| REGN |
Guide |
Sanofi collaboration revenue / profit-share step-up |
BETTER |
guide full-profit-share begins 3Q26, ~$2.30B+ vs. cons ~$2.13B (3Q26 collab rev) |
MEDIUM |
| REGN |
Guide |
FY26 GAAP gross margin (Limerick disruption) |
UNCHANGED |
guide ~77-78% vs. cons ~77-78% (FY26, already cut from 79-80%) |
MEDIUM |
| REGN |
Guide |
EYLEA base (ex-HD) U.S. demand trajectory / biosimilar timing |
LOWER |
guide mid-to-high-teens % demand decline vs. cons ~-15% (2H26) |
MEDIUM |
| REGN |
Guide |
EYLEA HD PFS approval decision |
UNKNOWN |
guide decision expected in ~2Q/near-term vs. cons ~1 of 2 apps approved (2H26) |
LOW |
| REGN |
Return |
Day-1 residual (stock − beta × S&P 500) |
+1.5% |
— |
LOW |
| REGN |
Return |
5-day cumulative residual |
-0.5% (FADE) |
Stock ran ~11% into the print (from ~$651 on 7/23 to ~$696), so a largely 'known' quarter with a beat is mostly priced. Even on top-line/EPS beats, out-period math cuts estimates: accelerating EYLEA base erosion into 2H26 biosimilars, the ~$1.00 IPR&D drag, Limerick GAAP margin pressure and the unresolved fianlimab/oncology overhang pull 2H and FY revisions lower, so an initial pop should fade back toward flat. |
LOW |