1 Reason Why Shares of Regeneron Pharmaceuticals Are Surging This Month

After climbing 2.3% in October, the S&P 500 has taken a U-turn and driven steadily lower over the past few weeks. From the start of November through Nov. 21, the index has dipped about 3.5%.

But that's not to say that there aren't some stocks that have provided investors with cause to celebrate. Shares of Regeneron Pharmaceuticals (NASDAQ: REGN), for example, have rebuffed the market's bearish sentiment and surged higher. Let's examine one of the catalysts driving the stock's rise.

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The market's eyes were on this ocular treatment

On Nov. 19, Regeneron -- a leader in gene editing -- reported that the Food and Drug Administration (FDA) has approved its Eylea HD 8 mg injection for the treatment of macular edema following retinal vein occlusion (RVO). That made Eylea the first and only FDA-approved treatment for RVO indicated for dosing up to every eight weeks, after an initial monthly dosing period.

The second-most-common retinal vascular disease (and a common cause of vision loss in adults), RVO results from a blockage in a vein in the retina. According to some estimates, RVO affected about 28 million people worldwide in 2015.

Is it too late to buy Regeneron stock as it climbs this month?

The FDA approval of Eylea is a notable success for Regeneron and expands the application of the treatment -- which is already the leading treatment for wet age-related macular degeneration, diabetic retinopathy, diabetic macular edema, and macular edema following RVO.

While shares of Regeneron Pharmaceuticals are climbing this month, investors shouldn't find the stock too pricey, as it's valued at a reasonable 18 times trailing earnings. Regeneron is a compelling consideration for biotech investors seeking strong growth opportunities.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Regeneron Pharmaceuticals. The Motley Fool has a disclosure policy.