Here are the 10-Q quarterly reports from Biogen Inc. (BIIB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BIIB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BIIB filings page.
Biogen Inc. (BIIB) reported third-quarter 2026 revenue of $2.8041 billion, compared with $2.5347 billion a year earlier, but recorded a $20.6 million net loss attributable to Biogen after $466.5 million of net income in the prior-year quarter. Total costs and expenses were $2.8131 billion, versus $1.9774 billion. For the first nine months, net income was $396.4 million, compared with $1.3418 billion.
Biogen completed its Apellis acquisition on May 14, with total consideration transferred of $5.4101 billion. Apellis shareholders were entitled to $41.00 in cash per share and one contingent value right per share for up to $4.00 in cash, subject to specified annual global net sales thresholds for SYFOVRE. Third-quarter SYFOVRE and EMPAVELI product revenue totaled $242.8 million.
Biogen completed its RayThera acquisition on August 6, paying $225.0 million upfront, recorded as acquired in-process research and development expense; additional development and regulatory milestones may reach up to $275.0 million and $500.0 million, respectively. Third-quarter restructuring charges were $66.5 million, compared with $7.4 million a year earlier, primarily for employee severance and accelerated bonus payments for Apellis employees subject to a double-trigger provision.
Biogen Inc. reported Q2 2026 total revenue of $2,736.0 million, up slightly from $2,645.5 million a year earlier. Product revenue was $1,916.4 million, revenue from anti‑CD20 programs $513.5 million, Alzheimer’s collaboration revenue $63.7 million, and contract manufacturing, royalty and other revenue $242.4 million. Total cost and expense increased to $2,603.6 million from $1,901.5 million, and net income fell to $97.5 million (diluted EPS $0.66) from $634.8 million (EPS $4.33). For the first half of 2026, revenue was $5,213.8 million and net income $417.0 million, versus $5,076.5 million and $875.3 million in 2025.
On May 14, 2026 Biogen completed the $5,410.1 million acquisition of Apellis Pharmaceuticals, paying $41.00 per share in cash plus contingent value rights of up to $4.00 per share tied to SYFOVRE net sales. The deal added completed‑technology intangibles of $4,630.0 million, inventory of $712.0 million and goodwill of $501.5 million, financed with cash, sale of marketable debt securities, a new $2.0 billion 2026 Term Loan and a $400.0 million revolver draw. As of June 30, 2026, cash and cash equivalents were $1,285.0 million, notes payable and term loan totaled $8,090.2 million, and intangible assets, net, were $13,516.4 million. Operating cash flow for the first half was $1,094.4 million. Biogen recorded $173.3 million in restructuring charges year‑to‑date, including about $153.2 million related to Apellis integration, alongside ongoing Fit for Growth cost‑saving measures.
Biogen Inc. reported modestly higher quarterly revenue and stronger profits while outlining a sizable acquisition. For the three months ended March 31, 2026, revenue rose to $2.48 billion from $2.43 billion a year earlier, driven by multiple sclerosis, rare disease and anti-CD20 program revenue.
Net income attributable to Biogen increased to $319.5 million, up from $240.5 million, with diluted EPS improving to $2.15 from $1.64. Operating cash flow strengthened to $645.5 million, supporting a cash and cash equivalents balance of $3.38 billion and total assets of $29.48 billion.
Biogen also agreed to acquire Apellis Pharmaceuticals for $41.00 per share in cash, valuing the deal at about $5.6 billion, plus a contingent value right of up to $4.00 per share tied to SYFOVRE sales. The company plans to fund the purchase with roughly $3.6 billion of existing cash and marketable securities and about $2.0 billion in bank loans, aiming to add two approved immunology and rare disease products to its portfolio.
Biogen Inc. reported Q3 2025 results in its 10-Q. Total revenue was $2,534.7 million, led by product revenue of $1,846.9 million, anti‑CD20 therapeutic programs of $493.9 million, Alzheimer’s collaboration revenue of $42.7 million, and contract manufacturing, royalty and other revenue of $151.2 million.
Operating lines showed cost of sales of $674.4 million, R&D of $436.1 million, and SG&A of $594.8 million. Net income was $466.5 million, with diluted EPS of $3.17. Comprehensive income reached $489.8 million.
On the balance sheet, cash and cash equivalents were $3,862.8 million, total assets $29,207.5 million, and notes payable $6,285.1 million. Year‑to‑date, operating cash flow was $1,692.7 million, investing cash flow $(139.4) million, and financing cash flow $(164.9) million. Shares outstanding were 146,702,272 as of October 28, 2025.