REGENERON PHARMACEUTICALS, INC.
REGN evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for REGN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · REGN
Regeneron Pharmaceuticals is an integrated biotechnology company that discovers, develops, and commercializes medicines across immunology, oncology, and genetic medicine, anchored by blockbuster products Dupixent, EYLEA HD, and Libtayo.
Key risk: Product concentration risk
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 117 clinical trials · 39 catalysts · 1 FDA decision for REGENERON PHARMACEUTICALS, INC..
Regeneron Pharmaceuticals is an integrated biotechnology company that discovers, develops, and commercializes medicines across immunology, oncology, and genetic medicine, anchored by blockbuster products Dupixent, EYLEA HD, and Libtayo.
- Reported total revenue of $4,290.7M and net income of $1,296.9M for the six months ended June 30, 2026 [sec].
- Cash and equivalents of $2,466.0M and shareholders' equity of $29,938.9M as of June 30, 2026 [sec].
- Four currently marketed blockbuster medicines: Dupixent, EYLEA HD, EYLEA, and Libtayo [sec · filed 2026-04-24].
- Invested $5.9B in R&D in 2025, representing ~41% of total revenues, with ~$6.6B anticipated for 2026 [sec · filed 2026-04-24].
- Nearly 50 clinical candidates across six therapeutic areas, with 15 internally developed medicines approved or authorized over the past ~15 years [sec · filed 2026-04-24].
What works
- Proprietary VelociSuite technologies and the Regeneron Genetics Center provide a platform for in-house drug discovery and development [sec · filed 2026-04-24].
- Deep pipeline of nearly 50 clinical candidates across immunology, oncology, hematology, neurology, cardiovascular, and rare diseases [sec · filed 2026-04-24].
- Strong financial position with $2.5B cash and $29.9B equity, supporting ongoing R&D and infrastructure investment [sec].
- Established commercial infrastructure and multiple blockbuster products generating significant revenue [sec · filed 2026-04-24].
What to weigh
- Heavy reliance on a few key products (Dupixent, EYLEA franchise) for the majority of revenue [sec · filed 2026-04-24].
- Significant R&D spending ($5.9B in 2025) with no guarantee of successful product approvals [sec · filed 2026-04-24].
- Competitive pressure in the retinal disease market from biosimilars and alternative therapies [sec_mda · as of 2026-07-30].
- Dependence on collaborators (e.g., Sanofi for Dupixent) for commercialization and revenue sharing [sec · filed 2026-04-24].
From the filings
Quoted directly from source documents.
Company has four blockbuster medicines
“4 currently marketed blockbuster medicines:Dupixent®(dupilumab),EYLEA HD®(aflibercept) Injection 8 mg, EYLEA®(aflibercept) Injection,and Libtayo®(cemiplimab)”
SEC filings · April 24, 2026
R&D investment in 2025 was $5.9B
“$5.9Binvested in R&D in 2025, representing ~41% of total revenues”
SEC filings · April 24, 2026
Nearly 50 clinical candidates across six therapeutic areas
“Nearly 50 clinical candidatesacross six therapeutic areas”
SEC filings · April 24, 2026
15 internally developed medicines approved or authorized
“15 internally developed medicines approved or authorizedover past ~15 years”
SEC filings · April 24, 2026
Catalyst timeline
- 2026-08-31 · Phase 2 Start: Neoadjuvant Fianlimab — Initiation of a Phase 1/2 study of fianlimab (anti-LAG-3) in neoadjuvant setting.
- 2026-09-09 · Phase 1 Start: Master Protocol — Start of a Phase 1b double-blind, randomized study to assess safety and tolerability.
- 2026-09-17 · Phase 1 Start: REGN17235 — Open-label, multi-center Phase 1 study to investigate safety and tolerability of REGN17235.
- 2026-10-07 · Phase 3 Topline: Dupilumab OLE — Topline data from an open-label extension study of dupilumab in patients ≥.
- 2026-10-26 · Phase 3 Topline: Pozelimab — Topline results from a C5 inhibitor-controlled study of pozelimab.
- 2027-05-12 · Phase 3 Topline: REGN7508 — Topline data from a Phase 3 study of REGN7508, a Factor XI monoclonal antibody.
- 2027-05-14 · Phase 3 Topline: Odronextamab — Topline results from a Phase 3 study of odronextamab (REGN1979).
- 2027-06-15 · Phase 3 Topline: [Undisclosed] — Topline data from a randomized, double-masked, placebo-controlled Phase 3 study.
Risks & what to watch (4)›
Key risks
- Product concentration risk — Revenue heavily dependent on Dupixent and EYLEA franchise; loss of exclusivity or competition could impact financials [sec · filed 2026-04-24].
- Clinical trial failure risk — High R&D spending ($5.9B in 2025) with no guarantee of successful regulatory outcomes for pipeline candidates [sec · filed 2026-04-24].
- Manufacturing and supply chain — Ongoing construction and validation of new manufacturing facilities may face delays or regulatory hurdles [sec · filed 2025-04-29].
- Pricing and reimbursement pressure — Biopharmaceutical pricing scrutiny and payer negotiations could affect product sales and margins [sec_mda · as of 2026-07-30].
What to watch
- Phase 3 topline data readouts for pozelimab and odronextamab expected in late 2026 and 2027 [upcoming catalysts].
- Regulatory decisions on new indications for Dupixent and EYLEA HD [sec · filed 2026-04-24].
- Progress of genetic medicine programs including CRISPR-based therapies and gene silencing [sec · filed 2024-04-25].
- Manufacturing expansion milestones at the Rensselaer fill/finish facility [sec · filed 2025-04-29].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.32 · 3% dilution
Lead: Approved
3 candidates
39 upcoming, next in ~1d
0 buys · 24 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
1,389
Total value held
$64.32B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 13,309,826 | $10.28B |
| blackrock, inc. | 8,947,735 | $6.91B |
| state street corp | 4,664,478 | $3.60B |
| dodge & cox | 4,458,238 | $3.44B |
| franklin resources inc | 2,722,071 | $2.10B |
| geode capital management, llc | 2,607,732 | $2.01B |
| wellington management group llp | 1,837,459 | $1.42B |
| vanguard portfolio management llc | 1,720,774 | $1.33B |
| fmr llc | 1,518,192 | $1.17B |
| goldman sachs group inc | 1,504,658 | $1.16B |
Showing top 10 of 1,389 institutional holders of REGENERON PHARMACEUTICALS, INC.. Open the full 13F history after sign-in.
Short Interest
as of May 1, 2026- % of float
- 2.8%
- Days to cover
- 4.5
- Shares short
- 2,841,780
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
REGN short interestGovernance
Frequently asked questions
What is the AI investment thesis for REGENERON PHARMACEUTICALS, INC.?
Regeneron Pharmaceuticals is an integrated biotechnology company that discovers, develops, and commercializes medicines across immunology, oncology, and genetic medicine, anchored by blockbuster products Dupixent, EYLEA HD, and Libtayo.
What is REGENERON PHARMACEUTICALS, INC.'s lead drug candidate?
REGENERON PHARMACEUTICALS, INC.'s most advanced tracked candidate is Dupixent (Phase 4) for Chronic Rhinosinusitis With Nasal Polyposis.
What is REGENERON PHARMACEUTICALS, INC.'s next catalyst?
REGENERON PHARMACEUTICALS, INC.'s next tracked catalyst is a Phase2_Start event — "Phase 2 Start: A Phase 1/2 Open-Label, Safety and Efficacy Study of Neoadjuvant Fianlimab (Anti-LAG-3 Antibody) in " — expected August 31, 2026.
Who is the CEO of REGENERON PHARMACEUTICALS, INC.?
Dr. Leonard S. Schleifer M.D., Ph.D. is the chief executive officer of REGENERON PHARMACEUTICALS, INC. (REGN).
Where is REGENERON PHARMACEUTICALS, INC. headquartered?
REGENERON PHARMACEUTICALS, INC. (REGN) is headquartered in Tarrytown, NY, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.