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Regeneron reports $18.5 million net loss for second quarter

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TARRYTOWN, N.Y. — Regeneron Pharmaceuticals reported a net loss of $18.5 million, or $0.23 per share, for the second quarter, compared with a net loss of $26.8 million, or $0.41 per share, for the second quarter of 2007, the company announced in a press release.

Total revenue rose to $60.7 million for the quarter, compared with $22.2 million in revenue during the same period last year, according to the release.

Second-quarter contract research and development revenue totaled $12.4 million, compared with $13.5 million during last year's second quarter.

In particular, Regeneron received $10.2 million of contract research and development revenue from Bayer HealthCare during the quarter, including $3.3 million related to the $75 million initial licensing payment, $20 million milestone payment and $6.9 million linked to expenses for the companies' VEGF Trap-Eye study, according to the release.