BiogenNASDAQ: BIIB

Biogen announced its third-quarter earnings on October 30. They reported a revenue of $2.5 billion and a non-GAAP earnings per share of $4.08. Many important products showed little to no growth, and the results for their Alzheimer's drug, Leqembi, were particularly disappointing.

BIIB's earnings and sales for the third quarter exceeded expectations. The company has increased its earnings per share forecast for 2024 by 35 cents.

The CEO mentioned that they are still experiencing growth with their new product launches and are becoming more enthusiastic about the possibilities in their development pipeline.

On Wednesday, Biogen increased its yearly profit predictions and exceeded profit expectations for the third quarter, thanks to its cost-cutting strategies that compensated for declining sales of its multiple sclerosis drugs.

Biogen Inc. (NASDAQ:BIIB) held its Q3 2024 earnings call on October 30, 2024, at 8:30 AM ET. The call featured key company figures, including Stephen Amato, Chris Viehbacher, Priya Singhal, Mike McDonnell, and Alisha Alaimo. Various analysts from firms like RBC Capital Markets, TD Cowen, and Goldman Sachs also participated in the discussion.

On October 29, 2024, Biogen Inc. and Neomorph Inc. revealed a partnership focused on researching and creating molecular glue degraders aimed at key targets in Alzheimer's disease, as well as rare neurological and immune disorders. This collaboration is based in Cambridge, Massachusetts, and San Diego, California.

Biotechnology company Biogen Inc (NASDAQ:BIIB) is set to announce its third-quarter results on Wednesday, October 30, before the market opens.

Biogen announced on Monday that Robin Kramer will become the new chief financial officer, as Michael McDonnell intends to retire from the position in February 2025.

CAMBRIDGE, Mass., Oct. 26, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) has released the full findings from the Phase 2 IGNAZ study, which looked at felzartamab, a new anti-CD38 monoclonal antibody, for patients with IgA nephropathy (IgAN). The study demonstrated significant decreases in proteinuria, maintained kidney function, and a lasting treatment effect for over 18 months after the final dose of felzartamab. These results were presented at Kidney Week 2024, the annual meeting of the American Society of Nephrology, held in San Diego, California.