All eyes on Biogen Q4 results with focus on future of Alzheimer's drug Leqembi
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Biogen (NASDAQ:BIIB) is scheduled to announce Q4 earnings results on Wednesday, February 15th, before market open.
The consensus EPS Estimate is $3.48 (+2.7% Y/Y) and the consensus Revenue Estimate is $2.44B (-10.9% Y/Y).
Over the last 2 years, BIIB has beaten EPS estimates 75% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 10 upward revisions and 5 downward. Revenue estimates have seen 5 upward revisions and 8 downward.
The company's stock dipped -0.39% on Oct. 25, 2022 despite Q3 results beat estimates. Biogen had also raised its 2022 guidance mainly due to better-than-expected topline performance and ongoing cost management.

The year 2023 started on a positive note for Biogen and partner Eisai as the U.S. FDA approved the companies' Alzheimerâs therapy lecanemab, which would be marketed as Leqembi. Eisai has also filed for approval of the drug in the EU and Japan.
Leqembi was among the 15 drugs in analytics company Clarivate's annual Drugs to Watch report which have the potential to become blockbusters. This assumption was based on a condition that CMS renders a positive National Coverage Determination, something the agency did not do for the companies' other approved Alzheimer's therapy Aduhelm (aducanumab).
In December 2022, a congressional investigation faulted the U.S. FDA and Biogen for collaborating "inappropriately" to seek the regulatory nod for Aduhelm.
However, reportedly, there have been concerns regarding safety of lecanemab as in some cases, the drug has been allegedly linked to brain swelling and bleeding, and even death.
But competitors of Biogen in the Alzheimer's space have also not fared well. Roche decided to stop studies of gantenerumab in early Alzheimer's after two phase 3 studies failed.
Other Notable News:
Biogen and Ionis' amyotrophic lateral sclerosis (ALS) therapy tofersen is set to face an FDA panel meeting in March. The drug is also under review in the EU.
Biogen's biosimilar of Roche's rheumatoid arthritis therapy Actemra received FDA review.
In November 2022, Biogen named Christopher Viehbacher, the former global CEO of French pharma giant Sanofi, as President and CEO.