Regeneron expects $56M IPR&D charge in Q1 2023 from Sonoma collaboration, ~$0.42 EPS impact

REGENERON PHARMACEUTICALS, INC.

Pre-tax acquired IPR&D charge of ~$56M for Q1 2023 related to Sonoma Biotherapeutics collaboration.
Expected to reduce both GAAP and non-GAAP diluted EPS by approximately $0.42.
Charge is preliminary and subject to final financial statement closing procedures.
Relates to an up-front payment under the previously announced collaboration and license agreement.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

REGENERON PHARMACEUTICALS, INC. reported preliminary financial results for first quarter 2023.

Period: first quarter 2023
Result: preliminary results

Exact text from the filing

Regeneron Pharmaceuticals, Inc. (“ Regeneron ” or the “ Company ”) currently expects that its financial results calculated in accordance with U.S. generally accepted accounting principles (“ GAAP ”) and its non-GAAP financial results for the first quarter 2023 will include an acquired in-process research and development (“ IPR&D ”) charge of approximately $56 million on a pre-tax basis, primarily relating to an up-front payment in connection with the Company’s previously announced collaboration and license agreement with Sonoma Biotherapeutics, Inc.

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Source: SEC EDGAR

accession 0001104659-23-043287

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