WESTON (dpa-AFX) - Biotech major Biogen Inc. (BIIB) reported Wednesday a loss in its third quarter, compared to prior year's profit, despite higher revenues. Further, the firm raised the lower end of fiscal 2026 earnings outlook, on a reported basis, and tightened underlying earnings view.
In the quarter, net loss attributable to the company was $20.6 million, compared to profit of $466.5 million last year. Loss per share was $0.14, compared to prior year's profit of $3.17.
The loss mainly reflected transaction-related charges.
Adjusted earnings per share were $2.62, compared to $4.81 a year ago.
The earnings per share results on a reported and adjusted basis included $284 million of acquired IPR&D, upfront and milestone expense, primarily related to the acquisition of RayThera Inc., as compared to $2 million last year.
Total revenue, however, grew 11 percent to $2.80 billion from $2.54 billion last year.
Growth Portfolio revenue of $1.26 billion increased 49 percent year-over-year, representing 63 percent of Core Pharmaceutical revenue. This included a strong first full quarter contribution from the acquired Apellis products.
Looking ahead for fiscal 2026, Biogen now expects earnings per share of $12.20 to $13.00, compared to previous estimate of $12.00 to $13.00, reflecting ongoing business strength and Apellis dilution favorability.
Underlying earnings are now projected to be $15.95 to $16.75 per share, compared to previous outlook of $15.85 to $16.85.
Full-year total revenue is expected to increase by a mid-single digit percentage for 2026 as compared to 2025, driven by continued growth from Growth Portfolio.
In the pre-market activity on the Nasdaq, the shares were trading 0.29 percent lower at $252.00, after closing Tuesday's regular trading 0.19 percent higher.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
