Analyst Conference Call Summary

biotechnology

conference date: April 29, 2026 @ 5:00 AM Pacific Time
for quarter ending: March 31, 2026 (first quarter, Q1 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenues were $ billion, down % sequentially from $2.28 billion and down % from $ billion in the year-earlier quarter.

Net income $ million, down sequentially from negative $49 million and down from $ million in the year-earlier quarter.

EPS (earnings per share, diluted) were> $, down sequentially from negative

Guidance:

Conference Highlights:

CEO Christopher A. Viehbacher said: ""

In Q1 2026 the FDA granted Breakthrough Therapy Designation to litifilimab in cutaneous lupus (CLE). Both litifilimab Phase 3 systemic lupus (SLE) studies are fully enrolled and expected to read out in Q4 2026. Lupus is a very competitive area, but physicians are seeing something special.

In Q1 2026 Biogen began a Phase 1 trial of BIIB145, a BTK degrader.

The Leqembi IQLIK SC-AI initiation (for treatment initiation, already approved for mainenance) is under review in the U.S., Japan, and China with FDA PDUFA May 24, 2026.

2026 begins a multi-year registrational data flow peaking in 2028 to 2030.

Salanersen for SMA high dose was approved in Q1 2026.

Non-GAAP net income was $ million, down % sequentially from $294 million and down % from $ million year-earlier. Non-GAAP EPS diluted was $, down % sequentially from $1.99 and down % from $ year-earlier.

Total product revenue was $ billion, down % sequentially from $1.67 billion and down % from $ billion year-earlier. That excludes the Rituxan revenue, Alzheimer's collaboration, royalties and other revenue.

* unconsolidated joint business revenue, Anti-CD20 products
** mainly contract manufacturing

Cash and equivalents (including marketable securities) balance ended at $ billion, up sequentially from $4.2 billion. $ billion debt. $ million was spent to repurchase shares. $ million cash flow from operations. $ million cap ex. $ million free cash flow.

GAAP Cost of sales was $ million. R&D expense was $ million. Acquired in-process R&D expense $ million. SG&A expense $ million. Amortization of acquired intangible assets $ million. Collaboration profit sharing income $ million. Restructuring charges $ million. Loss on contingent consideration $ million. Other expense $ million. Total cost and expenses $ billion. Leaving income from operations of $ million. Income tax benefit $ million.

See also the Biogen product pipeline. The entire pipeline includes 27 clinical programs.

Q&A selective summary:

OpenIcon Analyst Conference Summaries Main Page
Biogen Investor Relations page
Openicon Biogen main page

Search

More Analyst Conference Pages: