Biogen expects $222M charge from research deals in Q4 2025

Biogen Inc. (NASDAQ: BIIB) announced it expects approximately $222 million in pre-tax charges for the fourth quarter of 2025 related to acquired in-process research and development, upfront and milestone expenses.

The biotechnology company said the estimated charge will impact both GAAP and non-GAAP net income per diluted share by approximately $1.26 per share for the fourth quarter 2025.

Beginning in the first quarter of 2025, Biogen started presenting acquired in-process research and development, upfront and milestone expense as a separate line item in its financial statements. These expenses include costs from collaboration and license agreements, upfront and milestone payments, and premiums on equity securities and asset acquisitions of acquired in-process research and development.

The company stated it does not forecast such expenses due to uncertainty regarding the future occurrence, magnitude and timing of these transactions in any given period.

Biogen noted that results for the quarter ended December 31, 2025, have not been finalized and remain subject to financial statement closing procedures. The company cautioned that final results may differ from the preliminary unaudited estimates provided.

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