RGEN - Repligen stock gains ~10% after Q1 results beat; co says posted record revenue in qtr

Shares of Repligen (NASDAQ:RGEN) are trading 9.9% higher at $156.66 in morning trade on Wednesday, after the life sciences company reported Q1 2022 earnings that beat expectations. RGEN reported Q1 non-GAAP EPS of $0.92, which beat estimates by $0.20, and revenue of $206.4M, which beat estimates by $20.92M. Repligen said its Q1 revenue was a record, driven by a strong performance in its filtration, chromatography and analytics businesses and a more than 100% gain in gene therapy revenue. COVID-related programs accounted for 26% of the company's revenue. However, RGEN said that with slowing vaccination rates, it expects lower COVID-related demand and revenue this year. To reflect the expectations of lower COVID-related demand, RGEN cut its FY 2022 guidance for total revenue to be in the range of $770M-$800M from an earlier range of $800M-$830M. Non-GAAP EPS is expected to be in the range of $3.07-$3.15 from $3.21-$3.30 previously. "Overall, our

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Repligen stock gains ~10% after Q1 results beat; co says posted record revenue in qtr