For the quarter ended September 2024, Biogen Inc. (BIIB) reported revenue of $2.47 billion, down 2.6% over the same period last year. EPS came in at $4.08, compared to $4.36 in the year-ago quarter. The reported revenue represents a surprise of +0.92% over the Zacks Consensus Estimate of $2.44 billion. With the consensus EPS estimate being $3.77, the EPS surprise was +8.22%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

| --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------------------------------------------------|-------|------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2024 Financial Results and Business Update | | October 30, 2024 | | | | | | | | | | | | | | | | | | Forward-looking statements This presentation and the discussions during this conference call contain forward-looking statements, r ...

Biogen Inc. (BIIB) came out with quarterly earnings of $4.08 per share, beating the Zacks Consensus Estimate of $3.77 per share. This compares to earnings of $4.36 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 8.22%. A quarter ago, it was expected that this company would post earnings of $4 per share when it actually produced earnings of $5.28, delivering a surprise of 32%. Over the last four quarters, the company has surpas ...

Press Release Cambridge, Mass. – October 30, 2024 Biogen reports third quarter 2024 results and raises full year 2024 financial guidance Third quarter 2024 revenue $2.5 billion; GAAP diluted EPS $2.66; Non-GAAP diluted EPS $4.08 Continued progress executing across the commercial portfolio • Product launches in Alzheimer's disease, rare disease, and depression each delivered sequential revenue growth; Total revenue from product launches in the third quarter continued to offset year-over-year decline in multi ...

Core Insights - Biogen reported third-quarter revenue and adjusted earnings that exceeded expectations, driven by the sales of its Alzheimer's drug, Leqembi, and other new products [1][4] - The company raised its full-year adjusted earnings guidance to between $16.10 and $16.60 per share, up from a previous forecast of $15.75 to $16.25 per share [2] - Despite the positive outlook for 2023, Biogen anticipates a low-single-digit percentage decline in sales for 2024 [2] Financial Performance - Biogen's third-quarter revenue was $2.47 billion, slightly above the expected $2.43 billion, but down approximately 3% year-over-year [5] - The company reported adjusted earnings of $4.08 per share, surpassing the expected $3.79 per share [5] - Net income for the quarter was $388.5 million, or $2.66 per share, a significant improvement from a net loss of $68.1 million, or 47 cents per share, in the same period last year [6] Product Performance - Leqembi generated $67 million in sales during the third quarter, including $39 million from the U.S., exceeding Wall Street's expectations of $50 million in global sales [4] - The uptake of Leqembi has been gradually increasing, despite initial launch challenges related to diagnostic requirements and access to specialists [3][4] - The drug's sales performance, along with new treatments for rare diseases and depression, helped mitigate revenue declines from Biogen's multiple sclerosis products [5]

The collaboration aims to discover and develop molecular glue degrader clinical candidates for priority targets to Biogen.Collaboration leverages Neomorph's leading molecular glue discovery platform and Biogen’s deep expertise in Alzheimer’s, rare, and immunological diseases. CAMBRIDGE, Mass. and SAN DIEGO, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) and Neomorph Inc. announced a research collaboration to discover and develop molecular glue degraders for priority targets in Alzheime ...

Biotechnology firm Biogen Inc (NASDAQ:BIIB) is scheduled to report third-quarter results before the open on Wednesday, Oct. 30. Ahead of the event, it was announced that Biogen's Executive V.P. and Chief Financial Officer Michael McDonnel will retire in February and be replaced by Robin Kramer. At last glance, BIIB was up 2% at $185.36. BIIB has a fairly dismal post-earnings history, as it's closed lower the day after earnings in seven of the last eight quarters. Shares averaged a 5.5% move the day after ea ...

The detailed study results confirmed interim findings, showing stable kidney function and sustained treatment effect more than 18 months after the last dose of felzartamab Felzartamab, an investigational anti-CD38 monoclonal antibody, is a potential first-in-class therapeutic candidate for a range of rare immune-mediated indications with planning underway for Phase 3 development IgA Nephropathy (IgAN) is a leading cause of chronic kidney disease with up to 40% of IgAN patients progressing to end stage kidne ...

We expect Biogen (BIIB) to beat expectations when it reports third-quarter 2024 results on Oct. 30, before market open. In the last reported quarter, the company beat earnings expectations by 32.0%.The Zacks Consensus Estimate for sales and earnings is pegged at $2.44 billion and $3.80 per share, respectively.Factors to Consider for BiogenIn the third quarter, lower sales of multiple sclerosis (“MS”) drugs and spinal muscular atrophy drug, Spinraza, are likely to have been partially offset by revenues from ...

CAMBRIDGE, Mass., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced upcoming data presentations and programming at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference, taking place October 29 - November 1, in Madrid, Spain. The presentations will include updates on new scientific findings from Biogen’s Alzheimer’s portfolio, highlighting data on different aspects of treatment and data examining preclinical Alzheimer’s disease and race. “These data showcase the breadth of ...