← Biogen Inc. (BIIB) — catalysts, pipeline & price
Catalyst Dossier · compiled by CeliA 🧫
Biogen Inc. (BIIB)
Biological Products, (No Diagnostic Substances) · market cap $33.1B · as of 2026-07-09
Research and calibrated estimates, not financial advice — verify before acting.
Next catalyst
2026-10-20 (est.)
Phase 3
Pipeline
20
programs
Upcoming events
8
next 90d+
Dossier
Ready
cached
Biogen Inc. (BIIB) is a Cambridge-based large-cap neuroscience biotechnology company with ~$9.9B in 2025 revenues, anchored by a maturing multiple sclerosis franchise (~45% of 2024 revenues), Spinraza in SMA (16.2%), and the recently approved Leqembi (Alzheimer's) and Tofersen (ALS-SOD1). The stock trades at ~$205.70 against a consensus analyst mean target of ~$220, with a net debt position of ~$2.9B and a broad late-stage pipeline spanning neurology, immunology, and rare disease. A Phase 3 readout for litifilimab in systemic lupus erythematosus is the highest-importance near-term catalyst, expected around September 2026.
The catalyst path
- 2026-10-20 (est.)Phase 3 · Litifilimabimp 9/10
- 2026-10-28Earningsimp 5/10
- 2027-01-15 (est.)Phase 2 · Tofersenimp 7/10
- 2027-03-15 (est.)Phase 3 · baricitinib treatmentimp 9/10
- 2027-05-20 (est.)Phase 3 · BIIB017 (peginterferon beta-1a)imp 9/10
- 2027-08-07 (est.)Phase 3 · SAGE-217imp 9/10
- 2027-08-07 (est.)Phase 3 · Tofersenimp 9/10
- 2027-09-07 (est.)Phase 2 · SAGE-217imp 7/10
Pipeline
| Asset | Phase | Indication |
|---|---|---|
| Leqembi | Approved | Alzheimer Disease |
| BIIB080 | Phase 2 | Alzheimer Disease |
| Tofersen | Approved | ALS (SOD1) |
| Avonex | Phase 3 | Multiple Sclerosis |
| dimethyl fumarate | Phase 3 | Relapsing-Remitting Multiple Sclerosis |
| Salanersen | Phase 3 | Muscular Atrophy, Spinal |
| Midazolam | Phase 3 | Relapsing-Remitting Multiple Sclerosis |
| natalizumab | Phase 3 | Crohn's Disease |
| BG00012 | Phase 3 | Multiple Sclerosis |
| BIIB091 | Phase 2 | Relapsing Forms of Multiple Sclerosis |
| SAGE-217 | Phase 3 | Bipolar Disorder I |
| Litifilimab | Phase 3 | Lupus Erythematosus, Systemic |
| Omaveloxolone capsules, 2.5 mg | Phase 2 | MItochondrial Myopathies |
| Natalizumab (BG00002) | Phase 3 | Multiple Sclerosis |
| BIIB017 (peginterferon beta-1a) | Phase 3 | Multiple Sclerosis, Relapsing-Remitting |
| Bardoxolone methyl oral capsule | Phase 2 | Chronic Kidney Diseases |
| CNV1014802 | Phase 2 | Lumbosacral Radiculopathy |
| BIIB104 | Phase 2 | Cognitive Impairment Associated With Schizophrenia |
| Lumiliximab with FCR | Phase 2 | Chronic Lymphocytic Leukemia |
| BG9924 | Phase 2 | Rheumatoid Arthritis |
Price & technical context
3-month
+3.1%
6-month
+21.2%
12-month
+44.5%
52-wk range
$142.26–$228.69
vs 50-day MA
+3.7%
vs 200-day MA
+14.3%
Realized vol
41.7%
Max drawdown
-43.7%
Daily closes through 2026-10-01. Realized vol annualized; max drawdown over ~2 years.
The full dossier is a Pro feature
Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.
Sources & data
- SEC filings — EDGAR filings for BIIB (10-K, 10-Q, S-3, 13D/G, Form 4)
- Clinical trials — 20 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
- Market & financial data — SEC EDGAR (XBRL filings, Form 4), Yahoo Finance, Nasdaq — prices, statements, key metrics, insider & institutional filings.
- Regulatory — openFDA, FDA advisory & PDUFA calendars.
Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.
Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, market-data providers). Compiled by CeliA. Not financial advice.