Regeneron (NASDAQ: REGN) expects $102M acquired R&D charge in Q1 2026

Rhea-AI Filing Summary

Regeneron Pharmaceuticals, Inc. expects to record an acquired in-process research and development charge of approximately $102 million on a pre-tax basis in its first quarter 2026 results. This stems mainly from premiums on equity securities and development milestone and up-front payments tied to collaboration and licensing agreements.

The company expects this acquired IPR&D charge to reduce both GAAP and non-GAAP net income per diluted share for the first quarter 2026 by approximately $0.81. These figures are preliminary, unaudited estimates and remain subject to completion of Regeneron’s financial statement closing procedures.

8-K Event Classification

Item 2.02 — Results of Operations and Financial Condition

1 item

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Key Figures

Acquired IPR&D charge: $102 million pre-tax EPS impact: $0.81 per diluted share

2 metrics

Acquired IPR&D charge $102 million pre-tax Expected for first quarter 2026 results

EPS impact $0.81 per diluted share Negative impact on GAAP and non-GAAP net income in Q1 2026

Key Terms

acquired in-process research and development, non-GAAP net income per diluted share, collaboration and licensing agreements, development milestone payments, +1 more

5 terms

acquired in-process research and development financial

"will include an acquired in-process research and development (“IPR&D”) charge of approximately $102 million"

non-GAAP net income per diluted share financial

"negatively impact each of GAAP and non-GAAP net income per diluted share for the first quarter 2026"

Non‑GAAP net income per diluted share is a company’s profit per share calculated after removing certain items the company considers unusual or nonrecurring, and spreading that profit across all shares that might exist if convertible securities were exercised. Investors use it to see an adjusted view of ongoing profitability—like measuring a car’s cruising speed after smoothing out speed bumps—but it can omit costs that matter, so compare it with standard GAAP figures.

collaboration and licensing agreements financial

"in connection with collaboration and licensing agreements"

development milestone payments financial

"as well as development milestone and up-front payments"

forward-looking statements regulatory

"This Report includes forward-looking statements that involve risks and uncertainties"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 8, 2026

REGENERON PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

New York

(State or other jurisdiction of incorporation)

000-19034		13-3444607
(Commission File Number)		(I.R.S. Employer Identification No.)
777 Old Saw Mill River Road, Tarrytown, New York		10591-6707
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (914) 847-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock – par value $0.001 per share	REGN	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

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 2026 will include an acquired in-process research and development (“IPR&D”) charge of approximately $102 million on a pre-tax basis. This charge primarily relates to premium on equity securities purchased, as well as development milestone and up-front payments, in connection with collaboration and licensing agreements. The acquired IPR&D charge is expected to negatively impact each of GAAP and non-GAAP net income per diluted share for the first quarter 2026 by approximately $0.81.

Acquired IPR&D charges may include IPR&D acquired in connection with asset acquisitions as well as up-front, opt-in, certain development milestone payments, and premiums paid on equity securities related to collaboration and licensing agreements. Regeneron does not forecast such acquired IPR&D charges due to the uncertainty of the future occurrence, magnitude, and timing of these transactions in any given period.

Regeneron’s results for the first quarter 2026 have not been finalized and are subject to Regeneron’s financial statement closing procedures. There can be no assurance that actual results will not differ from the preliminary (unaudited) estimates described herein.

The information included in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Note Regarding Forward-Looking Statements

This Current Report on Form 8-K (this “Report”) includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, Regeneron’s expected acquired in-process research and development charge for the quarterly period ended March 31, 2026 and its expected impact on GAAP and non-GAAP net income per diluted share for this period as discussed in this Report. A more complete description of these and other material risks can be found in Regeneron’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

Note Regarding Non-GAAP Financial Measures

This Report references non-GAAP net income per diluted share, which is a financial measure that is not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). This non-GAAP financial measure is computed by excluding certain non-cash and/or other items from the related GAAP financial measure. The Company also includes a non-GAAP adjustment for the estimated income tax effect of reconciling items. The Company makes such adjustments for items the Company does not view as useful in evaluating its operating performance. Management uses this and other non-GAAP measures for planning, budgeting, forecasting, assessing historical performance, and making financial and operational decisions, and also provides forecasts to investors on this basis. Additionally, such non-GAAP measures provide investors with an enhanced understanding of the financial performance of the Company's core business operations. However, there are limitations in the use of such non-GAAP financial measures as they exclude certain expenses that are recurring in nature. Furthermore, the Company's non-GAAP financial measures may not be comparable with non-GAAP information provided by other companies. Any non-GAAP financial measure presented by Regeneron should be considered supplemental to, and not a substitute for, measures of financial performance prepared in accordance with GAAP.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

REGENERON PHARMACEUTICALS, INC.   

/s/ Joseph J. LaRosa

Joseph J. LaRosa

Executive Vice President, General Counsel and Secretary

Date: April 8, 2026

FAQ

What charge did Regeneron (REGN) announce for Q1 2026?

Regeneron expects an acquired in-process research and development charge of about $102 million pre-tax in its first quarter 2026 results. This reflects costs from collaboration and licensing agreements, including premiums on equity securities and development milestone and up-front payments.

How will Regeneron’s Q1 2026 IPR&D charge affect earnings?

The acquired IPR&D charge is expected to reduce Regeneron’s GAAP and non-GAAP net income per diluted share by approximately $0.81 for first quarter 2026. This impact applies to both reported and adjusted earnings measures used by the company.

What transactions drive Regeneron’s $102 million IPR&D charge?

The expected $102 million acquired IPR&D charge mainly reflects premiums on equity securities purchased and development milestone and up-front payments. These payments arise from Regeneron’s collaboration and licensing agreements for research and development programs.

Are Regeneron’s Q1 2026 IPR&D estimates final?

No. Regeneron states that its first quarter 2026 results, including the acquired IPR&D charge and EPS impact, have not been finalized. The figures are preliminary, unaudited estimates and remain subject to the company’s financial statement closing procedures.

Does Regeneron (REGN) regularly forecast acquired IPR&D charges?

Regeneron explains it does not forecast acquired IPR&D charges because their timing, magnitude, and occurrence are uncertain. These charges can include up-front, opt-in, and certain development milestone payments and equity premiums related to collaboration and licensing deals.

How does Regeneron use non-GAAP net income per diluted share?

Regeneron uses non-GAAP net income per diluted share to exclude certain non-cash or other items it does not view as useful for evaluating operating performance. Management uses this measure for planning, budgeting, forecasting, and assessing historical performance, while noting its limitations for investors.

Filing Exhibits & Attachments

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