REGN Stock Hits 2-Year Highs Pre-Market: CFO Says Regeneron Is Positioned To Deliver One Of ‘Strongest Years Ever’ After Q3 Earnings Beat

• Adjusted EPS shot up 70% to $20.07.
• U.S. sales of Eylea HD, its higher-dose injectable treatment for certain retinal diseases, jumped 62% to $699 million.
• Regeneron’s collaboration revenue from Sanofi surged 68% to $2.72 billion, driven by Dupixent sales.

Shares of Regeneron Pharmaceuticals (REGN) gained more than 8% in premarket trading on Friday, after the biotechnology firm reported stronger-than-expected third-quarter earnings, driven by growing demand for its eye treatments and higher collaboration revenue from Sanofi.

If the levels hold after the opening bell, REGN shares would jump to their highest levels since October 2024.

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Eye Treatment, Sanofi Partnership Drive Growth

Regeneron reported a 36% surge in Q3 revenue to $5.12 billion, well above Wall Street estimates of $4.56 billion, according to Fiscal.ai. Adjusted earnings per share (EPS) shot up 70% to $20.07, also exceeding consensus estimates of $16.25.

CFO Christopher Fenimore attributed the Q3 beat to strong sales performance across its drug portfolio and higher collaboration revenue from Sanofi.

“Strong commercial execution across our portfolio, together with the anticipated step-up in Sanofi collaboration revenue in the first full quarter following repayment of the Development Balance, drove a 36% increase in total revenues and a 70% increase in non-GAAP EPS, positioning us to deliver one of our strongest years ever,” Fenimore said.

U.S. sales of Eylea HD, its higher-dose injectable treatment for certain retinal diseases, jumped 62% to $699 million. However, sales of the original Eylea fell 41% as patients switched to the newer version.

Regeneron’s collaboration revenue from Sanofi surged 68% to $2.72 billion, driven by strong demand for Dupixent, an inflammation treatment. Earlier this month, Regeneron and Sanofi expanded their partnership to develop four long-acting antibody treatments, with Regeneron receiving $1 billion upfront and becoming eligible for another $7 billion in future milestone payments.

FDA Decision On Cemdisiran Expected Next Month

Regeneron has approximately 50 product candidates in clinical development, covering cancer, obesity, immune disorders and other diseases. The company expects a U.S. Food and Drug Administration (FDA) decision on Cemdisiran for generalized myasthenia gravis, a condition that causes muscle weakness, in November.

It ended September with approximately $18.86 billion in cash and marketable securities.

Regeneron raised its full-year research and development spending forecast to $6.60 billion - $6.74 billion and capital expenditure guidance to $1.05 billion - $1.10 billion.

Retail Says REGN Stock Is ‘Cheap’

Retail sentiment surrounding REGN on Stocktwits remained ‘bullish’ over the past 24 hours.

One user called the stock cheap given the company’s underlying assets.

REGN shares are up nearly 15% so far in 2026.

Also read: AstraZeneca CEO Sees Over $20B Potential From 2027 Drug Trial Readouts – AZN Stock Eyes Breakout After Q3 Earnings Beat

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