Regeneron Pharmaceuticals (REGN) surged 5.79% during intraday trading on Thursday, as investors cheered the company's second-quarter financial results that significantly exceeded Wall Street expectations. The biotechnology firm reported adjusted earnings of $14.29 per share, crushing the consensus estimate of $10.26, while revenue climbed 17% to $4.29 billion, well above the $3.82 billion forecast.

The strong performance was fueled by robust demand for Regeneron's key products. Global net sales of eczema drug Dupixent, recorded by partner Sanofi, jumped 38% to approximately $6 billion, beating estimates of $5.34 billion. In the U.S., sales of the high-dose version of eye-disease drug Eylea (Eylea HD) rose 52% to $596 million, driven by higher demand and sales volumes. Additionally, the company fully repaid the Sanofi Development Balance, which will drive a meaningful step-up in collaboration profits beginning in the third quarter, further lifting investor sentiment.

Regeneron also tightened its full-year R&D expense guidance and raised its gross margin outlook, signaling confidence in its pipeline and operational efficiency. The earnings beat, combined with the positive forward-looking commentary, sparked a sharp rally in the stock, with shares rising well above $730 during the session.