Biogen posted fourth quarter adjusted earnings of $4.58 a share, which is lower than Bloomberg analyst consensus forecast of $4.80.
The biotech company’s revenue for the quarter fell -22% year-over-year to $2.85 billion. The analyst consensus was $2.8 billion.
Biogen’s guidance on net income of $17 to $18.50 a share for this year is below the average analyst forecast of $25.09 (according to Bloomberg). Revenue projection of $10.45 billion to $10.75 billion is also behind analysts’ estimate of $11.2 billion.
The company is expecting a regulatory decision in the U.S. on aducanumab for Alzheimer’s disease in June as well as “pivotal trial readouts” in postpartum depression, major depressive disorder, ALS, and choroideremia, according to Chief Executive Michel Vounatsos.