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BIOGEN (BIIB)

Earnings summaries and quarterly performance for BIOGEN.

Research analysts who have asked questions during BIOGEN earnings calls.

Brian Abrahams

RBC Capital Markets

5 questions for BIIB

Also covers: ACAD, ATAI, BCRX +17 more

Michael Yee

Jefferies

5 questions for BIIB

Also covers: ALLO, AMGN, BEAM +14 more

Salveen Richter

Goldman Sachs

5 questions for BIIB

Also covers: ACAD, AGIO, ALLO +20 more

Paul Matteis

Stifel

4 questions for BIIB

Also covers: ABOS, ACAD, ALKS +11 more

Philip Nadeau

TD Cowen

4 questions for BIIB

Also covers: ADVM, APLS, ATRA +13 more

Umer Raffat

Evercore ISI

4 questions for BIIB

Also covers: ALKS, AMGN, BHC +15 more

Evan Seigerman

BMO Capital Markets

3 questions for BIIB

Also covers: ABBV, AMGN, ARVN +15 more

Jay Olson

Oppenheimer & Co. Inc.

3 questions for BIIB

Also covers: ACAD, AMGN, BNTX +22 more

Christopher Schott

JPMorgan Chase & Co.

2 questions for BIIB

Also covers: ABBV, AMGN, AMRX +15 more

David Amsellem

Piper Sandler Companies

2 questions for BIIB

Also covers: ABBV, ALKS, AMGN +27 more

Eric Schmidt

Cantor Fitzgerald & Co.

2 questions for BIIB

Also covers: ADCT, AGIO, BLUE +9 more

Marc Goodman

Leerink Partners

2 questions for BIIB

Also covers: ACAD, ALDX, ALKS +14 more

Terence Flynn

Morgan Stanley

2 questions for BIIB

Also covers: ABBV, AMGN, ARVN +17 more

Geoffrey Meacham

Citi

1 question for BIIB

Also covers: ABBV, BMY, GILD +6 more

Michael DiFiore

Evercore ISI

1 question for BIIB

Also covers: AMGN, AMLX, ELAN +8 more

Miles Minter

William Blair

1 question for BIIB

Myles Minter

William Blair & Company

1 question for BIIB

Also covers: ALEC, ARCT, ARGX +11 more

Tim Anderson

Bank of America

1 question for BIIB

Also covers: ABBV, AMLX, BMY +4 more

Timothy Anderson

BofA Securities

1 question for BIIB

Also covers: ABBV, AMGN, AZN +10 more

Recent press releases and 8-K filings for BIIB.

Biocytogen completes STAR Market IPO
BIIB
Delisting/Listing Issues
  • Biocytogen completed its IPO on the Shanghai STAR Market, becoming the first “H+A” global drug innovator dual-listed in Hong Kong and Shanghai.
  • The IPO was priced at 26.68 RMB per share, opened at 58 RMB (a 117% increase) and gave a market capitalization exceeding 25.9 billion RMB.
  • Its proprietary RenMice® platforms leverage a library of over one million antibody sequences across more than 1,000 druggable targets, supporting 40+ PCC-to-IND assets and 280+ discovery partnerships.
  • The listing is expected to drive global expansion, platform commercialization, and strategic capital deployment by leveraging its H+A dual-listing structure.
5 hours ago
Biogen highlights immunology pipeline at Piper Sandler Healthcare Conference
BIIB
  • Biogen’s CD38-directed antibody felzartamab showed in a 22-patient phase 2 study for late antibody-mediated rejection (AMR) in kidney transplant recipients that two-thirds of treated patients achieved zero microvascular inflammation at six months, with ~80% reversal; a phase 3 trial is underway with 12-month readout expected in 2027.
  • In IgA nephropathy, felzartamab’s nine-dose regimen demonstrated durable off-treatment reductions in proteinuria and total IgA out to two years, supporting a pivotal phase 3 program.
  • For primary membranous nephropathy, Biogen plans to target both high-risk PLA2R-positive patients and the 30–50% who relapse or don’t respond to anti-CD20 therapy by depleting CD38-expressing plasma cells.
  • Upcoming development includes a phase 1b lupus nephritis study (n=20), a phase 2 study in DSA-negative AMR, and additional proof-of-concept trials in other autoantibody-driven diseases with felzartamab.
  • Biogen’s broader lupus franchise features litifilamab (anti-BDCA2) with positive phase 2 SLE data and a CLE “Amethyst” study, plus dapirolizumab pegol (anti-CD40L) following one positive phase 3, with further phase 3 readouts due next year.
7 days ago
Biogen highlights felzartamab renal and immunology pipeline at Piper Sandler conference
BIIB
  • Biogen’s felzartamab, a CD38-directed plasma cell therapy for antibody-mediated renal diseases, achieved ~80% reversal of microvascular inflammation at six months in a 22-patient Phase 2 study of late antibody-mediated rejection (AMR) vs. placebo.
  • The ongoing Phase 3 AMR trial (one-year duration) features a six-month crossover of placebo to felzartamab and maintenance dosing for active-arm patients, with top-line data expected in 2027.
  • In IgA nephropathy, a five-month felzartamab regimen yielded durable off-treatment reductions in proteinuria and total IgA for up to two years, potentially eliminating the need for continuous dosing.
  • Biogen will initiate additional felzartamab studies in DSA-negative AMR, lupus nephritis (Phase 1b), and other autoantibody-driven diseases, broadening its immunology development portfolio.
7 days ago
Biogen presents LEQEMBI pharmacological effect data at CTAD 2025
BIIB
  • In a Phase III Clarity AD CSF sub-cohort (n=410), total CSF Aβ protofibril (PF) levels increased by 19% (placebo) vs 59% (lecanemab) at 12 months and 29% vs 45% at 18 months, with the 12-month difference reaching statistical significance (p=0.0126).
  • Data confirm target engagement of lecanemab: binding to PF and mobilization from brain parenchyma into CSF, indicating its pharmacodynamic effect in AD patients.
  • Lecanemab abolished the correlation between CSF PF changes and neurodegeneration biomarkers (total tau, neurogranin) seen in placebo, suggesting reduced PF-driven neurotoxicity.
  • Reinforces LEQEMBI as the only Alzheimer’s therapy targeting both protofibrils and amyloid plaques, potentially slowing downstream tau tangle accumulation on PET imaging.
7 days ago
Biogen outlines pipeline and commercial strategy at Evercore HealthCONx
BIIB
Product Launch
New Projects/Investments
  • Biogen completed its Fit for Growth program under CEO Chris Viehbacher, delivering $1 billion in gross savings and $800 million in net savings to date.
  • The company has expanded from a single MS franchise to four franchises with 10 Phase III or Phase III–ready programs, including assets for tau, lupus, Parkinson’s and preclinical Alzheimer’s.
  • LEQEMBI’s IV maintenance is priced at 50% of the IV induction WAC, and the new IQLIK subcutaneous formulation will carry a 30% price reduction versus IV induction (two weekly injections).
  • The Zuranolone (ZURZUVAE) 14-day oral postpartum depression therapy is growing quarter-over-quarter after pivoting commercialization from psychiatrists to OB-GYNs and refining the “mental minute” engagement.
  • Felzartamab, acquired via HiBio, will launch sequentially in transplant antibody-mediated rejection (~11,000 patients), followed by MVI (4,000–5,000 patients) and IgAN, establishing a multi-indication nephrology franchise.
8 days ago
Biogen discusses transformation, pipeline expansion, and commercial updates at HealthCONx Conference
BIIB
Product Launch
  • Biogen finalized $1 billion in gross savings and $800 million in net savings under its Fit for Growth initiative, and has expanded from a single MS franchise to four franchises with 10 Phase 3 or Phase 3-ready programs.
  • Management sees the pre-symptomatic Alzheimer’s market as multiple times larger than the current symptomatic segment—2x+ is frequently cited—though diagnostic coding and patient identification remain challenges.
  • Leqembi’s IV regimen is priced at WAC for induction with 50% off for maintenance; the new subcutaneous IQLIK formulation reduces maintenance revenue by 30% versus IV and uses two weekly injections for induction.
  • Felzartamab will launch first in antibody-mediated rejection (~11 000 kidney transplant patients), then expand to MVI (4 000–5 000 patients) and IgA nephropathy in a staged nephrology franchise.
8 days ago
Biogen outlines pipeline expansion and commercial strategy
BIIB
Product Launch
  • Under CEO Chris Viehbacher’s “Fit for Growth,” Biogen achieved $1 billion in gross savings and $800 million in net savings, and has grown from an MS‐focused firm to 10 Phase 3 or Phase 3‐ready programs across Alzheimer’s, lupus, Parkinson’s and more.
  • The pre-symptomatic Alzheimer’s market could be 2× the current symptomatic opportunity, though sizing remains uncertain until diagnostic codes and trial results clarify patient identification.
  • Leqembi’s IV induction is priced at WAC with maintenance at 50% of induction, and the new subcutaneous IQLIK formulation offers 30% lower revenue per dose versus IV; Biogen is evaluating a potential premium for subQ induction reflecting administration cost savings.
  • Zuranolone (Zurzuvae) for postpartum depression, a 14-day oral treatment, has shown strong quarter-over-quarter growth after refocusing efforts from psychiatrists to OB-GYNs and optimizing the “60-second mental minute” patient interaction.
  • Felzartamab is being launched sequentially in antibody-mediated rejection (AMR; ~11,000 patients), membranous nephropathy (4–5,000 patients) and IgA nephropathy, aiming to build a multi-indication nephrology franchise; an oral BTK inhibitor also remains contingent on achieving a clean liver safety profile.
8 days ago
Biogen enters $50M immunology research collaboration with Dayra
BIIB
New Projects/Investments
  • Biogen to make an upfront $50 million payment to Dayra Therapeutics, with potential milestone payments for advancing programs.
  • Collaboration targets the development of oral macrocyclic peptides for autoimmune and inflammatory diseases.
  • Biogen holds the option to acquire development candidates from Dayra on a per-program basis, indicating scope for expanded partnership.
  • This deal marks Biogen’s strategic shift from neuroscience into immunology, leveraging Dayra’s macrocycle discovery platform.
Nov 24, 2025, 12:36 PM
Biogen outlines I&I pipeline strategy at TD Cowen summit
BIIB
New Projects/Investments
  • Biogen is leveraging its neuroimmunology expertise to build a multi-indication immunology & inflammation and kidney portfolio, emphasizing efficient early development and robust biomarker strategies.
  • The anti-CD38 antibody felzartamab demonstrated proof-of-concept in antibody-mediated rejection and IgA nephropathy, with ongoing phase III trials in transplant rejection and primary membranous nephropathy, and plans to expand into microvascular injury (MVI).
  • Late-stage lupus assets litifilimab and dapirolizumab pegol are in pivotal development: Topaz 1 & 2 are global SLE studies (540 pts each) and the Amethyst trial is a ~400-pt cutaneous lupus study, all expected readouts by end-2026.
  • The positive PHOENIX GO phase III in SLE showed reductions in flares, steroid use and fatigue; the replicate PHOENIX FLY trial is underway with data anticipated in 2H 2026.
  • A novel oral IRAK4 degrader (BIIB142) is in phase I healthy-volunteer studies, and Biogen continues to bolster its I&I pipeline through collaborations and acquisitions, including a C5a asset via the Ventyx deal.
Nov 13, 2025, 9:30 PM
Biogen outlines immunology and kidney pipeline at TD Cowen I&I Summit
BIIB
  • Biogen’s I&I strategy leverages neuroimmunology expertise to pursue a multi-indication pipeline, using early biomarker-driven trials to expand from CNS immunology into broader immunology and kidney diseases.
  • The anti-CD38 antibody felzartamab achieved proof-of-concept in antibody-mediated rejection and IgAN, prompting phase 3 studies in transplant rejection and exploration of microvascular injury indications.
  • In lupus, Biogen’s homegrown litifilimab and partnered dapirolizumab pegol advanced on the strength of detailed phase 1/2 data—enrolling replicate phase 3 SLE trials (Topaz 1 & 2) and a >300-patient CLE study (Amethyst).
  • A novel oral IRAK4 degrader (BIIB142) has entered phase 1 healthy-volunteer testing, positioning Biogen to explore multiple autoimmune indications with a new modality.
Nov 13, 2025, 9:30 PM