Biogen Inc. (BIIB)
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On Wednesday, Biogen Inc. (NASDAQ:BIIB) shares edged slightly higher after announcing its most recent quarterly results. The company reported better-than-expected fiscal Q3 revenue and earnings whilst also boosting its full-year 2021 guidance.
Biogen Inc. (BIIB) CEO Michel Vounatsos on Q3 2021 Results - Earnings Call Transcript
Sage (SAGE) and partner Biogen are looking to get approval for zuranolone as an oral treatment for major depressive disorder. They will start rolling submission of an NDA in early 2022 for the candidate.
Biogen (BIIB) beats third-quarter estimates for both earnings and sales and ups its financial guidance for 2021.
Just before Tuesday's close, Netflix (NASDAQ: NFLX) reported better-than-expected earnings by adding 4.4 million subscribers in the third quarter. The company cited a robust slate of content including the hit Korean television show “Squid Game,” which helped bring in new subscribers.
Biogen Inc. (BIIB) delivered earnings and revenue surprises of 14.94% and 3.82%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?
The stock price of Biogen reached a 52-week high of $468 this June before a sell-off drove the stock price down over 40% to its current level of around $266. The stock decline was partly driven by pessimism surrounding the Aduhelm launch, as we have discussed in our updates further below.
Biogen Inc (NASDAQ: BIIB) has posted Q3 adjusted EPS of $4.77 ahead of the consensus estimate of $4.11, but quarterly profit fell around 53% Y/Y to $329.2 million on the continued competition for Company's flagship product, Tecfidera, a multiple sclerosis drug. Sales of $2.8 billion came in slightly above the expected $2.7 billion.
Shares of Sage Therapeutics Inc. SAGE, -8.58% gained 0.5% in premarket trading on Wednesday, the day after the company said it and Biogen Inc. BIIB, -0.59% plan to submit their experimental depression drug to U.S. regulators for approval in the second half of next year. They will also seek approval for zuranolone as a treatment for postpartum depression in the first half of 2023.
Shares of Biogen Inc. BIIB, -0.59% were up 1.8% in premarket trading on Wednesday after the company beat expectations for the third quarter despite lower-than-expected utilization of Aduhelm, its controversial and closely watched new Alzheimer's disease treatment. Biogen had net income of $329.2 million, or $2.22 per share, in the third quarter of 2021, compared with net income of $701.5 million, or $4.47 per share, in the same quarter a year ago.