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Valens Research

REGN - Embedded Expectations Analysis - 2020 09 25

Regeneron Pharmaceuticals, Inc. (REGN:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with an 11.8x Uniform P/E, implying bearish expectations for the firm. Moreover, management may be concerned about potential the side effects of Fasinumab, EYLEA, and their oncology business

Specifically, management may lack confidence in their ability to reduce non-GAAP expenses, explore new combinations of drugs that could benefit a wide variety of cancer patients, and improve their oncology business. Management may also have concerns about the sustainability of demand rebound seen in June, the possible side effects of EYLEA, and the potential of their PD-1 antibody, Libtayo. Finally, they may lack confidence in the success of the Garetosmab program for Fibrodysplasia Ossificans Progressiva (FOP), and may have concerns about the potential side effects of fasinumab and the immediate availability of Regeneron COV2
Underlying
Regeneron Pharmaceuticals Inc.

Regeneron Pharmaceuticals is a biotechnology company that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of diseases. The company's commercialized medicines and product candidates in development are designed to assist patients with eye disease, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neuromuscular diseases, infectious diseases, and rare diseases. The company's products include: EYLEA (aflibercept) injection, which is used for the treatment of neovascular age-related macular degeneration, diabetic macular edema; and Dupixent (dupilumab) injection, which is used for the treatment of adult patients with atopic dermatitis.

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