Biogen's EPS up 13% annually to $9.14 in Q1

Wednesday, 22. April 2020 13:05

Biogen Inc announced on Wednesday that its adjusted earnings per share (EPS) stood at $9.14 in the first quarter of fiscal 2020, jumping 13% on an annual basis to top the estimates. The US biotechnology company posted revenue at $3.53 billion in the same trimester, an increase of 1% year-over-year, while its net income went down by 1% annually to land at $1.4 billion in three months ending March.

"We delivered strong financial results in the first quarter, and we continued to develop and expand our pipeline, including making good progress toward the U.S. regulatory filing for aducanumab, as well as bolstering our efforts in gene therapy through a collaboration with Sangamo. The magnitude and uncertainty surrounding this pandemic clearly introduce unanticipated and potentially unquantifiable risks to our business and results over the near-term," Biogen’s Chief Executive Officer Michel Vounatsos said in a statement.

The company's stocks traded nearly 7% lower in premarket after the results for the first quarter were announced.

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Breaking the News / GA