Aduhelm woes, performance of multiple sclerosis drugs in focus for Biogen's Q1 earnings
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Biogen (NASDAQ:BIIB) is scheduled to announce Q1 earnings results on Tuesday, May 3rd, before market open.
The consensus EPS Estimate is $4.36 (-18.4% Y/Y) and the consensus Revenue Estimate is $2.5B (-7.1% Y/Y).
Over the last 2 years, BIIB has beaten EPS estimates 88% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 2 upward revisions and 13 downward. Revenue estimates have seen 3 upward revisions and 10 downward.
BIIB stock fell ~7% in early February after its 2022 outlook fell short of expectations. It had guided 2022 revenue to be between $9.7B-$10B and non-GAAP EPS to be between $14.25-$16.
BIIB had reported Q4 2021 non-GAAP EPS of $3.39, which beat estimates by $0.02, and revenue of $2.74B, which beat expectations by $120M.
Aduhelm in focus:

Any updates or information from BIIB on its Alzheimer's drug Aduhelm (aducanumab) will be closely watched. The company has been mired in woes over the disappointing launch and controversy of the therapy.
On April 22, Biogen decided to withdraw a marketing application for Aduhelm in Europe, citing inadequacy of data to support the drug's regulatory recommendation in the region.
On April 7, the U.S. Centers for Medicare & Medicaid Services decided to limit the coverage on the drug.

Investors will also be looking out for the performance of Biogen's multiple sclerosis drugs, including Tecfidera and Tysabri, and its spinal muscular atrophy therapy Spinraza.
"Biogen's multiple sclerosis revenues have been declining since the past few quarters. It is unlikely that MS sales have improved in the first quarter," said Zacks. "(Tecfidera sales) are likely to have declined steeply, hurt by the launch of multiple generic products in the United States," it added.
The Zacks Q1 consensus estimate for sales of Tecfidera, Tysabri and Spinraza is $403M, $495M and $408M, respectively.