Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of high-flying biotechnology firm Regeneron Pharmaceuticals
So what: For the quarter, Regeneron reported a 52% increase in revenue to $232 million and a profit of $0.11. Both of these figures crushed Wall Street's expectations for the first quarter. The big news of the day was that Regeneron once again doubled its sales forecast for Eylea -- the second time it has done so in just a matter of months. Regeneron now expects sales of $500 million to $550 million, which far exceeds the $250 million to $300 million it forecast in February.
Now what: Any worries about competing treatments seem to be flying out the window. Eylea, which is used to treat wet age-related macular degeneration, is a cheaper alternative to Lucentis which is co-marketed by Roche (OTC: RHHBY) and Novartis
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