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Biogen Inc. (BIIB) came out with quarterly earnings of $5.28 per share, beating the Zacks Consensus Estimate of $4 per share. This compares to earnings of $4.02 per share a year ago.
Biogen Inc.'s stock BIIB rose 1.8% in premarket trading on Thursday after the drug aker boosted its outlook for its adjusted 2024 profit and topped Wall Street's second-quarter profit expectations. The company cited “positive momentum across new product launches such as its Leqembi Alzheimer's medicine, which rang up $40 million in sales in the quarter.
Biogen lifted its full-year earnings forecast on Thursday, as the launch of new treatments such as rare disease drug Skyclarys is expected to make up for a market-share loss of its older multiple sclerosis medicines.
Alcyone's ThecaFlex is an implantable medical device under investigation for routine subcutaneous administration of therapeutics to the cerebrospinal fluid (CSF). The first stage of the pivotal IDE PIERRE trial has been completed.
The benefit of Eisai and Biogen's Alzheimer's drug Leqembi in patients with early-stage Alzheimer's appears to increase with continued use with no new safety issues, according to three-year data presented at an Alzheimer's meeting on Tuesday.
Let's focus on biotech stocks like GSK, VRTX, BIIB, MRNA and REGN, which are scheduled to report this week.
Beyond analysts' top -and-bottom-line estimates for Biogen (BIIB), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
CAMBRIDGE, Mass. and BREA, Calif. and TOKYO, July 30, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB), Beckman Coulter, Inc. and Fujirebio announced a collaboration to potentially identify and develop blood-based biomarkers for tau pathology in the brain and to potentially clinically advance and potentially commercialize new tests for tau pathology in Alzheimer's disease (AD). The development of tau-specific blood-based biomarkers that can measure a patient's tau burden could provide critical insights into the underlying pathological processes of AD and may help advance the development of a new generation of therapies impacting tau pathology.
Biogen's (BIIB) sales in the second quarter are likely to have been hurt by lower sales of its multiple sclerosis drugs, while sales of Spinraza are likely to have been hurt by increased competition.
Biogen is counting on its Alzheimer's drug, Leqembi, to jumpstart growth -- and sales are progressing in the United States. But European regulators consider the drug too risky.