Biogen (BIIB) Updates Q2 Guidance

Biogen (NASDAQ: BIIB) expects that its GAAP and non-GAAP results for the second quarter of 2025 will include acquired in-process research and development, upfront and milestone expense of approximately $46 million on a pre-tax basis. The estimated charge is expected to impact GAAP and non-GAAP net income per diluted share for the second quarter 2025 by approximately ($0.26) per share.
During the first quarter of 2025 we began presenting acquired in-process research and development, upfront and milestone expense as a separate line item in our condensed consolidated statements of income. Acquired in-process research and development, upfront and milestone expense includes costs incurred in connection with collaboration and license agreements such as upfront and milestone payments and, when applicable, premiums on equity securities and asset acquisitions of acquired in-process research and development. Biogen does not forecast such acquired in-process research and development, upfront and milestone expense due to the uncertainty of the future occurrence, magnitude, and timing of these transactions in any given period.
Results for the quarter ended June 30, 2025, have not been finalized and are subject to our financial statement closing procedures. There can be no assurance that our final results will not differ from the preliminary unaudited estimates described herein.

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