Regeneron Pharmaceuticals logged higher revenue in the second quarter and said it expects profit to grow in the coming months, after repaying outstanding debts.

The biotechnology company on Thursday posted a profit of $1.3 billion, or $12.23 a share, for its three months ended June 30, compared with $1.39 billion, or $12.81 a share, a year earlier.

Stripping out certain one-time items, earnings were $14.29 a share. Analysts polled by FactSet expected adjusted earnings of $10.16 a share.

Revenue rose 17% to $4.29 billion, ahead of Wall Street models for $3.82 billion.

Global sales of Dupixent and Libtayo--treatments for inflammatory conditions and specific cancers, respectively--grew 38% and 30%. And in the U.S., sales of Eylea HD, a treatment for eye diseases, were up 52%.

Chief Financial Officer Christopher Fenimore said Regeneron as of the recent quarter has fully repaid Sanofi for its funding of prior collaboration development activities.

"The repayment of this obligation will drive a meaningful step-up in collaboration profits beginning in the third quarter," he said. "Given our strong financial position, we continue to invest confidently in our pipeline, U.S. manufacturing, and external innovation, while returning capital to shareholders."

Looking ahead, Regeneron narrowed its full-year research-and-development expense outlook to between $6.5 billion and $6.64 billion from the prior range of $6.45 billion to $6.68 billion.

"With approximately 50 clinical assets, we remain focused on translating our science into even more successful new medicines across a broad array of diseases," Chief Executive Leonard Schleifer said.

Shares were up 5.7% to $735 in premarket trading.