Regeneron slips after $0.21 per share impact to Q4 2022 earnings
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Regeneron (NASDAQ:REGN) shares lost ~5% to reach the lowest level in more than three months on Monday after the drugmaker announced a $0.21 impact to GAAP and non-GAAP net income per diluted share in Q4 2022 due to a one-off R&D charge.
Issuing a regulatory filing ahead of the company's presentation at the ongoing J.P. Morgan Healthcare Conference, Regeneron (REGN) attributed the impact to the recently-announced licensing agreement with CytomX Therapeutics (CTMX).
The company said that the upfront payment related to the deal has led to ~$30M in acquired in-process research and development costs in Q4 2022. 

Additionally, based on preliminary (unaudited) financials, Regeneron (REGN) projected $6.26B U.S. net product sales for its eye disease therapy EYLEA(aflibercept) in 2022, including $1.50B in Q4 2022.
Regeneron (REGN) added that a short-term shift to off-label use of VEGF inhibitor Avastin from Roche (OTCQX:RHHBY) (OTCQX:RHHBF) and a temporary shutdown of a fund that provided co-pay assistance to patients in Q4 2022 negatively impacted Eylea results.
However, citing the most recent Q4 data, the company said that move to off-label Avastin has already started to reverse. 

According to Seeking Alpha contributor, ONeil Trader Eylea sales performed well in Q3, but Roche (OTCQX:RHHBY) is likely to turn up the heat in Q4 with its new Wet AMD therapy Vabysmo.