Earnings summaries and quarterly performance for BIOGEN.
Executive leadership at BIOGEN.
Christopher Viehbacher
Chief Executive Officer
Nicole Murphy
Head of Pharmaceutical Operations and Technology
Priya Singhal
Head of Development
Robin Kramer
Chief Financial Officer
Sean Godbout
Chief Accounting Officer & Global Corporate Controller
Susan Alexander
Chief Legal Officer
Board of directors at BIOGEN.
Caroline Dorsa
Chair of the Board
Eric Rowinsky
Director
Jesus Mantas
Director
Lloyd Minor
Director
Maria Freire
Director
Mene Pangalos
Director
Monish Patolawala
Director
Stephen Sherwin
Director
Susan Langer
Director
William Hawkins
Director
Research analysts who have asked questions during BIOGEN earnings calls.
Brian Abrahams
RBC Capital Markets
5 questions for BIIB
Michael Yee
Jefferies
5 questions for BIIB
Salveen Richter
Goldman Sachs
5 questions for BIIB
Paul Matteis
Stifel
4 questions for BIIB
Philip Nadeau
TD Cowen
4 questions for BIIB
Umer Raffat
Evercore ISI
4 questions for BIIB
Evan Seigerman
BMO Capital Markets
3 questions for BIIB
Jay Olson
Oppenheimer & Co. Inc.
3 questions for BIIB
Christopher Schott
JPMorgan Chase & Co.
2 questions for BIIB
David Amsellem
Piper Sandler Companies
2 questions for BIIB
Eric Schmidt
Cantor Fitzgerald & Co.
2 questions for BIIB
Marc Goodman
Leerink Partners
2 questions for BIIB
Terence Flynn
Morgan Stanley
2 questions for BIIB
Geoffrey Meacham
Citi
1 question for BIIB
Michael DiFiore
Evercore ISI
1 question for BIIB
Miles Minter
William Blair
1 question for BIIB
Myles Minter
William Blair & Company
1 question for BIIB
Tim Anderson
Bank of America
1 question for BIIB
Timothy Anderson
BofA Securities
1 question for BIIB
Recent press releases and 8-K filings for BIIB.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Quarterly earnings call transcripts for BIOGEN.
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