Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Q2 2023 Earnings Call Transcript - Page 5 of 5 - InvestingChannel

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Q2 2023 Earnings Call Transcript

Operator: Our next question comes from the line of Brian Skorney with Baird. Your line is now open.

Luke Junk: Hey, this is Luke on for Brian. Thanks for taking the question. Can you just provide a little bit more color on what drove the Libtayo growth this quarter? Was there any stocking or was it largely demand-based? Thanks.

Marion McCourt: Thank you, Luke. And I’m pleased to share it is demand growth. Certainly, we see continued and steady performance across our skin indications both cutaneous squamous cell carcinoma and basal cell carcinoma. In addition to that, it is exciting that we are seeing not only an increase in the number of prescribers for our lung cancer indications, but the depth of prescribing is improving and increasing in both the community and also academic settings. But that is demand based, it is not stocking based.

Ryan Crowe: And I think Shannon we have time for two more questions, please.

Operator: Our next question comes from the line of David Risinger with Leerink Partners. Your line is now open.

David Risinger: Yes, thanks very much. So my question is for George, on the costims, please. You mentioned that you haven’t seen the immune age with respect to your other costim trials. Could you please comment on whether the dosing step-ups at this point are close to the higher dosing levels that you’re stepping back from in the PSMA trial? I’m just trying to contextualize whether you really have advanced those other trials to the point to really know whether you’re going to have similar problems in your other costim trials? Thanks very much.

George Yancopoulos: That’s a very good and fair question. And those programs are at earlier stages, so we won’t know until we are more advanced, whether when we get to the same sort of efficacy type levels, do we have the same sort of immune-related adverse events associations or not. What I was referring to is in the preclinical studies, the amount of this associated T-Cell activation that can lead to these sorts of immune-related adverse events varies depending on the tumor class and on the costim itself. So based on that we would expect to see different ratios of immune-related adverse events. Those other programs though right now are all-in stages where they are in with full dose Libtayo combinations at this point.

Ryan Crowe: Okay. Thanks, Shannon. We have time for one more question.

Operator: Our last question is from Akash Tewari with Jefferies. Your line is now open.

Akash Tewari: Hey, thanks so much. I’ll switch it up. I guess maybe for your obesity program, you had data at the ADA showing synergy with your myostatin inhibition program when combined with the GLP-1. I guess the natural observation here is Regeneron doesn’t currently have a program in development. Is there any interest in acquiring one externally via BD or partnership at this time? Thanks.

George Yancopoulos: Well, what we would say is, we do think that obviously, there’s a lot of focus on obesity and particularly these new agents that are causing a large amount of weight loss. But as you described is being increasingly recognized that the quality of this weight loss may prove challenging that many patients are actually losing muscle or lean body mass which is — can be very detrimental particularly if they stay on these therapies or yoyo on and off them, that can really lead to substantial changes over-time and body composition can be very debilitating for patients. And as you said, we’ve had long investment in programs that can maintain muscle mass in various settings and we’ve shown that they can maintain or even grow muscle mass in the setting of these types of obesity treatments in our preclinical modeling.

So obviously it is a very exciting opportunity to think about which is, can we combine some of our muscle preservation or growth strategies and biologics to prevent these concerning side effects that are being seen with the new class of profound weight loss agents. And so we are very actively pursuing everything that we can imagine. And hopefully, we’ll be providing updates on our approaches as time goes along.

Ryan Crowe: Okay. Thanks, George, and thanks for everyone who dialed in today and for your interest in Regeneron. We apologize to those remaining in the queue that we did not have a chance to hear from. As always, the Investor Relations team is available to answer any remaining questions. Thank you once again and have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.

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