Biogen stock drops 2% after Q1 sales miss [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Biogen stock drops 2% after Q1 sales miss Biogen Inc. BIIB, -0.98% shares dropped 2.4% in premarket trade Tuesday after the company reported a first-quarter sales miss. Earnings for the latest quarter rose to $1.2 billion, or $5.54 per share, from $748 million, or $3.46 per share in the year-earlier period. Adjusted earnings-per-share were $6.05, compared with the FactSet consensus of $5.93. Revenue rose to $3.13 billion from $2.81 billion, compared with the FactSet consensus of $3.15 billion. Revenue growth was largely driven by $364 million in revenue for the rare disease therapy Spinraza, compared with $47 million in the year-earlier period and $363 million in the fourth quarter, biosimilar revenue of $128 million and "other" revenues of $164 million, the company said. Even so, sales of Spinraza -- which has come to be one of Biogen's most important drugs -- came in below the FactSet consensus of $383 million. Company shares have plummeted 25% over the last three months, compare
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BIIB
Earnings
- 2/14/24 - Miss
BIIB
Sec Filings
- 2/26/24 - Form 4
- 2/22/24 - Form 144
- 2/21/24 - Form 4
- BIIB's page on the SEC website