Biogen (NASDAQ: BIIB) projects $34M Q1 2026 in-process R&D expense
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Biogen Inc. disclosed that its first-quarter 2026 results will include approximately $34 million in acquired in-process research and development, upfront and milestone expense on a pre-tax basis. This charge is expected to reduce GAAP and non-GAAP net income by about $0.19 per diluted share for the quarter ended March 31, 2026.
These expenses relate to collaboration and license agreements, including upfront and milestone payments and, when applicable, premiums on equity securities and asset acquisitions of in-process R&D. Biogen noted that quarterly results are preliminary and subject to closing procedures, and actual results may differ from current estimates.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 2.02 — Results of Operations and Financial Condition
1 item
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Key Figures
Acquired in-process R&D, upfront and milestone expense: $34 million (pre-tax)
EPS impact: $0.19 per diluted share
Quarter end date: March 31, 2026
3 metrics
Acquired in-process R&D, upfront and milestone expense
$34 million (pre-tax)
Estimated charge for Q1 2026 results
EPS impact
$0.19 per diluted share
Estimated reduction in GAAP and non-GAAP EPS for Q1 2026
Quarter end date
March 31, 2026
Period for which the preliminary expense estimate applies
Key Terms
acquired in-process research and development, upfront and milestone expense, non-GAAP, forward-looking statements
4 terms
acquired in-process research and development financial
"will include acquired in-process research and development, upfront and milestone expense"
upfront and milestone expense financial
"acquired in-process research and development, upfront and milestone expense of approximately $34 million"
non-GAAP financial
"its GAAP and non-GAAP results for the first quarter of 2026 will include"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
forward-looking statements regulatory
"Note Regarding Forward-Looking Statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 6, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices; Zip Code)
Registrant’s telephone number, including area code: (617 ) 679-2000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
Biogen Inc. (Biogen) expects that its GAAP and non-GAAP results for the first quarter of 2026 will include acquired in-process research and development, upfront and milestone expense of approximately $34 million on a pre-tax basis. The estimated charge is expected to impact GAAP and non-GAAP net income per diluted share for the first quarter of 2026 by approximately $0.19 per share.
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 March 31, 2026, 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.
Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements relating to our financial and operating results and financial guidance, that are being made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995 (the PSLRA) with the intention of obtaining the benefits of the “Safe Harbor” provisions of the PSLRA. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” "assume," “believe,” “contemplate,” “continue," "could," “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” "outlook," “plan,” “possible,” "potential," “predict,” “project,” “should,” “target,” “will,” “would” or the negative of these words or other words and terms of similar meaning.
Given their forward-looking nature, these statements involve substantial risks and uncertainties and may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements. The information above includes, among others, forward-looking statements reflecting management’s current intentions and expectations for the future with respect to Biogen’s estimated acquired in-process research and development, upfront and milestone expense for the quarter ended March 31, 2026, and the related impact to Biogen’s GAAP and non-GAAP earnings per share for such period. These forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part.
These statements speak only as of the date of this Current Report on Form 8-K and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in our subsequent reports on Form 10-Q and Form 10-K, in each case including in the sections thereof captioned “Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in our subsequent reports on Form 8-K. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Biogen Inc.
By: /s/ Wendell Taylor
Wendell Taylor
Secretary
Date: April 6, 2026
FAQ
What expense did Biogen (BIIB) highlight for Q1 2026?
Biogen expects about $34 million of acquired in-process research and development, upfront and milestone expense in Q1 2026. This reflects costs tied to collaboration and license agreements, including upfront and milestone payments and possible premiums on equity securities or asset acquisitions.
What does Biogen include in acquired in-process research and development expense?
Acquired in-process research and development expense includes costs from collaboration and license agreements, such as upfront and milestone payments. When applicable, it also covers premiums on equity securities and asset acquisitions of in-process R&D, all recorded as part of this expense category.
Does Biogen (BIIB) forecast future acquired in-process R&D and milestone expenses?
Biogen does not forecast acquired in-process research and development, upfront and milestone expense. The company cites uncertainty in the future occurrence, magnitude and timing of these transactions in any given period, making such costs inherently difficult to predict reliably in advance.
Are Biogen’s Q1 2026 financial results final in this disclosure?
No. Biogen states that results for the quarter ended March 31, 2026 have not been finalized and remain subject to financial statement closing procedures. The company cautions that final results may differ from the preliminary unaudited estimates described in this disclosure.
What caution does Biogen give about its forward-looking statements in this update?
Biogen explains that its forward-looking statements involve substantial risks and uncertainties and may be based on inaccurate assumptions. The company warns that actual outcomes, including estimated expenses and earnings effects, could differ materially from those anticipated, and advises investors not to rely unduly on such statements.