Oct 28, 6:07 AM ET
Biogen reported third quarter 2026 total revenue of $2.8 billion, up 11% from a year earlier, with the first full quarter of Apellis products contributing. GAAP diluted EPS was $(0.14) versus $3.17 a year earlier, mainly due to transaction-related charges, and non-GAAP diluted EPS fell to $2.62 from $4.81 after a $284 million acquired IPR&D, upfront and milestone expense. The company also raised the low end of its full year 2026 non-GAAP diluted EPS guidance to $12.20 to $13.00 from $12.00 to $13.00.
- Total revenue $2.8 billion, up 11% year over year; Growth Portfolio revenue $1.26 billion, up 49%
- GAAP diluted EPS $(0.14) vs. $3.17 a year earlier; non-GAAP diluted EPS $2.62 vs. $4.81
- $284 million acquired IPR&D, upfront and milestone expense, primarily related to the RayThera Inc. acquisition
- Full year 2026 non-GAAP diluted EPS guidance low end raised to $12.20 from $12.00; range now $12.20 to $13.00
Read the filing on SEC.gov ↗
Jul 29, 6:10 AM ET
Biogen reported second-quarter 2026 total revenue of $2.7 billion, up 3% from a year earlier, but diluted EPS fell sharply as deal-related charges and the Apellis acquisition weighed on results. The company cut its full-year 2026 Non-GAAP diluted EPS guidance to $12.00 to $13.00, down from $14.25 to $15.25 in April, which lowers the outlook for shareholders.
- Q2 2026 GAAP diluted EPS was $0.66, down from $4.33 a year earlier; Non-GAAP diluted EPS was $3.60, down from $5.47
- Full-year 2026 Non-GAAP diluted EPS guidance is $12.00 to $13.00, versus $14.25 to $15.25 reported in April
- Full-year total revenue is now expected to rise by a mid-single-digit percentage in 2026 compared with 2025
- Q2 2026 acquired IPR&D, upfront and milestone expense was $164 million, versus $47 million a year earlier
Read the filing on SEC.gov ↗
Jul 1, 4:08 PM ET
Biogen said its second-quarter 2026 GAAP and non-GAAP results will include about $164 million in pre-tax acquired in-process R&D, upfront and milestone expense, reducing diluted earnings per share by about $0.95. It also expects third-quarter charges of $290 million to $320 million, or $1.75 to $1.95 per diluted share, tied to potential milestones and transactions that have not yet closed. Shareholders face lower reported earnings in both quarters, and the second-quarter figures are preliminary.
- Q2 2026 acquired IPR&D, upfront and milestone expense: about $164 million pre-tax, about $0.95 per diluted share
- Q3 2026 expected expense: $290 million to $320 million, about $1.75 to $1.95 per diluted share
- Q3 estimate relates to potential milestones and transactions that have not yet closed
- Quarter ended June 30, 2026 results have not been finalized and may differ from these estimates
Read the filing on SEC.gov ↗
May 14, 8:31 AM ET
Biogen completed its acquisition of Apellis Pharmaceuticals on May 14, 2026, after about 82.4% of Apellis shares were tendered into its $41.00-per-share cash offer, plus one contingent value right per share worth up to $4.00 tied to SYFOVRE sales milestones. Biogen borrowed the full $2 billion under a new unsecured term loan on May 13, 2026, and used part of it to pay for the deal. Apellis's EMPAVELI and SYFOVRE products recorded $689 million in net product revenue in 2025, but the CVR payments depend on sales thresholds that may never be met.
- Offer price: $41.00 per share in cash plus one CVR per share worth up to $4.00 in total
- 105,687,831 Apellis shares validly tendered, about 82.4% of shares outstanding at expiration
- $2 billion unsecured term loan: $1 billion due May 12, 2027 (Tranche A) and $1 billion due May 12, 2028 (Tranche B)
- EMPAVELI and SYFOVRE recorded $689 million in combined net product revenue in 2025
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
