What To Expect From Biogen's Q4 Earnings Report

Biotech giant Biogen Inc (NASDAQ:BIIB) is poised to announce its fourth-quarter earnings on February 12, 2025. Investors and analysts are keenly looking forward to the report to gauge the company's financial health and future prospects in the biotech landscape.

Wall Street analysts predict that Biogen will report an adjusted earnings per share (EPS) of $3.35 for the fourth quarter, with total sales expected to reach $2.40 billion. Additionally, for the entire fiscal year 2024, analysts forecast an adjusted EPS of $16.34 and total sales of about $9.64 billion.

January 2025 was a significant month for Biogen, primarily due to Sage Therapeutics, Inc. (SAGE) announcing that their Board of Directors has initiated a process to explore strategic alternatives. This followed the rejection of an unsolicited proposal from Biogen, which valued Sage's shares at $7.22 each.

In the same month, the FDA granted approval for the Supplemental marketing application for lecanemab-irmb (Leqembi) to allow a maintenance dosing regimen. Patients administered Leqembi, a treatment indicated for Alzheimer's disease, can transition to a maintenance dosage of 10 mg/kg once every four weeks after an initial treatment phase of 18 months.

Leqembi is specifically designed for patients diagnosed with mild cognitive impairment (MCI) or are in the mild dementia stage of Alzheimer's. After the initial treatment phase, patients have the option to either switch to the new regimen or continue with the existing dosing schedule.

Moreover, the FDA, along with the European Medicines Agency, is reviewing proposals for a higher dose regimen of nusinersen, designed for spinal muscular atrophy (SMA). This proposed regimen includes a quicker loading schedule with two 50 mg doses taken 14 days apart, followed by a higher maintenance dose of 28 mg every 4 months, an increase compared to the previously approved regimen (Spinraza).

Additionally, the European Commission has tasked the CHMP with evaluating safety data for lecanemab that has emerged since the CHMP's decision in November 2024. This assessment will occur at the CHMP meeting in February 2025, where the commission will consider if an update to their opinion is necessary or if the existing risk minimization measures are sufficiently clear.

Investors are closely monitoring Biogen's growth strategies, which involve expanding its drug pipeline, pursuing potential external business partnerships, and exploring new opportunities to stabilize revenue that may decline in the later years of the decade. Notably, in December, a downgrade from Jefferies pointed to challenges facing Biogen, drawing attention to potential operational difficulties.

Despite these developments, sales of Leqembi have been slower than anticipated, often falling below consensus expectations through the year 2030. The company faces challenges such as reimbursement issues related to PET scans and delays in protocol updates at major hospital networks, which contribute to difficulties in identifying patients eligible for treatment.

Price Action: As of the latest check on Tuesday, Biogen's stock (BIIB) is down 2.61%, trading at $138.81.

Future Outlook: Investors are looking to Biogen's upcoming earnings report for clarity on the company's performance, growth strategy, and how it plans to navigate ongoing challenges in the pharmaceutical market.

Biogen, Earnings, Stock