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Regeneron Reports Full Year and Fourth Quarter 2010 Financial and Operating Results
Date:2/17/2011

illion during the same period of 2009.  The Company recognized $25.3 million of net product sales for the full year 2010, which included $20.5 million of ARCALYST® net product sales made during 2010 and $4.8 million of previously deferred net product sales.  In 2009, the Company recognized $18.4 million of ARCALYST® net product sales.  

The Company's total operating expenses increased to $146.5 million in the fourth quarter of 2010 from $136.2 million in the same quarter of 2009, and to $556.5 million for the full year 2010 from $453.4 million for the full year 2009.  The increases were primarily due to higher research and development expenses arising from the Company's expanding research and development activities in 2010 and related higher employee headcount, principally in connection with the sanofi-aventis antibody collaboration.  Research and development expenses for the full year 2010 rose to $489.2 million from $398.8 million in 2009.

The Company had a net loss of $14.6 million, or $0.17 per share (basic and diluted), for the fourth quarter of 2010 compared with a net loss of $36.5 million, or $0.46 per share (basic and diluted), for the fourth quarter of 2009.  The Company had a net loss of $104.5 million, or $1.26 per share (basic and diluted), for the full year 2010 compared with a net loss of $67.8 million, or $0.85 per share (basic and diluted), for the full year 2009.  

In October 2010, the Company completed a public offering of 6,325,000 shares of Common Stock and received net proceeds of $174.8 million.  At December 31, 2010, cash and marketable securities totaled $626.9 million (including $7.5 million of restricted cash and marketable securities) compared with $390.0 million (including $1.6 million of restricted cash) at December 31, 2009.

About Regeneron PharmaceuticalsRegeneron is a fully integrated biopharmaceutical company that discovers, develops, and commercialize
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SOURCE Regeneron Pharmaceuticals, Inc.
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