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Biogen Earnings Calls
| Release date | Oct 30, 2025 |
| EPS estimate | $3.89 |
| EPS actual | $4.81 |
| EPS Surprise | 23.65% |
| Revenue estimate | 2.217B |
| Revenue actual | 2.455B |
| Revenue Surprise | 10.74% |
| Release date | Jul 31, 2025 |
| EPS estimate | $3.90 |
| EPS actual | $5.47 |
| EPS Surprise | 40.26% |
| Revenue estimate | 2.328B |
| Revenue actual | 2.646B |
| Revenue Surprise | 13.63% |
| Release date | May 01, 2025 |
| EPS estimate | $2.90 |
| EPS actual | $3.02 |
| EPS Surprise | 4.14% |
| Revenue estimate | 2.234B |
| Revenue actual | 2.431B |
| Revenue Surprise | 8.81% |
| Release date | Feb 12, 2025 |
| EPS estimate | $3.43 |
| EPS actual | $3.44 |
| EPS Surprise | 0.292% |
| Revenue estimate | 2.408B |
| Revenue actual | 2.455B |
| Revenue Surprise | 1.93% |
Last 4 Quarters for Biogen
Below you can see how BIIB performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 12, 2025 |
| Price on release | $133.43 |
| EPS estimate | $3.43 |
| EPS actual | $3.44 |
| EPS surprise | 0.292% |
| Date | Price |
|---|---|
| Feb 06, 2025 | $142.37 |
| Feb 07, 2025 | $141.35 |
| Feb 10, 2025 | $142.54 |
| Feb 11, 2025 | $139.39 |
| Feb 12, 2025 | $133.43 |
| Feb 13, 2025 | $138.45 |
| Feb 14, 2025 | $137.33 |
| Feb 18, 2025 | $136.57 |
| Feb 19, 2025 | $136.68 |
| 4 days before | -6.28% |
| 4 days after | 2.44% |
| On release day | 3.76% |
| Change in period | -4.00% |
| Release date | May 01, 2025 |
| Price on release | $120.93 |
| EPS estimate | $2.90 |
| EPS actual | $3.02 |
| EPS surprise | 4.14% |
| Date | Price |
|---|---|
| Apr 25, 2025 | $118.84 |
| Apr 28, 2025 | $119.12 |
| Apr 29, 2025 | $120.17 |
| Apr 30, 2025 | $121.08 |
| May 01, 2025 | $120.93 |
| May 02, 2025 | $123.53 |
| May 05, 2025 | $121.80 |
| May 06, 2025 | $116.82 |
| May 07, 2025 | $117.21 |
| 4 days before | 1.76% |
| 4 days after | -3.08% |
| On release day | 2.15% |
| Change in period | -1.37% |
| Release date | Jul 31, 2025 |
| Price on release | $128.00 |
| EPS estimate | $3.90 |
| EPS actual | $5.47 |
| EPS surprise | 40.26% |
| Date | Price |
|---|---|
| Jul 25, 2025 | $131.52 |
| Jul 28, 2025 | $129.28 |
| Jul 29, 2025 | $127.90 |
| Jul 30, 2025 | $126.64 |
| Jul 31, 2025 | $128.00 |
| Aug 01, 2025 | $131.95 |
| Aug 04, 2025 | $132.20 |
| Aug 05, 2025 | $132.89 |
| Aug 06, 2025 | $129.34 |
| 4 days before | -2.68% |
| 4 days after | 1.05% |
| On release day | 3.09% |
| Change in period | -1.66% |
| Release date | Oct 30, 2025 |
| Price on release | $149.61 |
| EPS estimate | $3.89 |
| EPS actual | $4.81 |
| EPS surprise | 23.65% |
| Date | Price |
|---|---|
| Oct 24, 2025 | $149.89 |
| Oct 27, 2025 | $150.43 |
| Oct 28, 2025 | $149.13 |
| Oct 29, 2025 | $147.86 |
| Oct 30, 2025 | $149.61 |
| Oct 31, 2025 | $154.27 |
| Nov 03, 2025 | $151.44 |
| Nov 04, 2025 | $149.33 |
| Nov 05, 2025 | $153.43 |
| 4 days before | -0.187% |
| 4 days after | 2.55% |
| On release day | 3.11% |
| Change in period | 2.36% |
Biogen Earnings Call Transcript Summary of Q3 2025
Biogen reported a solid Q3 2025 with 3% revenue growth and strong momentum from recently launched products. Launch products (LEQEMBI, SKYCLARYS, ZURZUVAE, QALSODY) generated $257 million in the quarter, up 67% year-over-year and have more than offset year-to-date declines in the legacy MS franchise. LEQEMBI global end‑market sales were ~$121 million (Eisai-booked), with continued sequential demand growth and the U.S. approval and rollout of IQLIK subcutaneous maintenance; management expects continued momentum into 2026 and is pursuing a rolling submission for subcutaneous initiation. SKYCLARYS is now available in 34 countries and grew ~30% year-over-year; ZURZUVAE showed ~150% revenue growth and expanding prescriber breadth. Biogen highlighted strong pipeline progress: both TOPAZ Phase III trials for litifilimab (SLE) are fully enrolled with readouts pulled into H2 2026; salanersen pivotal plan aligned with FDA and registrational study to start early 2026; felzartamab and other late‑stage programs progressing; a Phase I IRAK4 degrader (BIIB142) initiated. Recent BD includes the Alcyone Therapeutics acquisition (ASO delivery tech) and a license with Vanqua Bio (preclinical C5aR1 antagonist). Financially, non‑GAAP diluted EPS grew ~18% in Q3, free cash flow was ~$1.2 billion for the quarter, cash & marketable securities were $4.0 billion, and net debt ~$2.3 billion. Management reiterated Fit‑for‑Growth cost savings on track ($1B gross / $800M net by end-2025) and updated full‑year guidance: sales roughly flat to +1% (constant currency) and an EPS outlook modestly improved but includes an estimated ~$1.25/share impact from expected Q4 BD transactions (Vanqua, Alcyone). Key near‑term catalysts: litifilimab TOPAZ readouts (2026), PDUFA for high‑dose SPINRAZA (April 2026), BIIB080 tau Phase II readout (mid‑2026), salanersen registrational start (early‑2026), and LEQEMBI subcu initiation filing progress. Risks noted include continued generic erosion of TECFIDERA in Europe, channel/inventory timing (notably China LEQEMBI inventory), regulatory/readout risks for multiple late‑stage assets, and integration/execution risk on BD and launches.
