Investing.com -- Biogen reported better-than-expected first-quarter earnings and revenue on Wednesday, and trimmed its full-year earnings outlook, citing charges related to business development activity.

The U.S. biotechnology company posted earnings per share (EPS) of $3.57 for the quarter, well above the average analyst estimate of $2.95. Revenue came in at $2.5 billion, up 2% year-on-year and ahead of the $2.25 billion consensus.

Shares jumped more than 3% in premarket trading.

The company’s growth products grew 12% year-over-year in revenue. Leqembi, its Alzheimer’s treatment, posted global in-market sales of $168 million, up 74% year-on-year, with U.S. sales of $86 million continuing to grow sequentially.

Skyclarys, used to treat a rare neurological disorder, generated $151 million in global revenue, up 22%, while Spinraza, a spinal muscular atrophy therapy, declined 12% to $374 million, with ex-U.S. sales affected by the timing of shipments.

For the full year, Biogen forecast earnings per share of $14.25 to $15.25, down from the previous guidance of $15.25 and $16.25, and below the analyst consensus of $15.55.

The company said the updated guidance reflects an approximately $1.00 per share impact from acquired in-process research and development charges tied to ongoing business development activity, of which $0.20 was recorded in the first quarter and $0.80 is expected in the second quarter.

Full-year revenue is expected to decline by a mid-single digit percentage compared with 2025, as further weakness in multiple sclerosis product sales — excluding Vumerity — is expected to be only partially offset by growth in newer products.

Biogen said that it plans to provide updated 2026 guidance inclusive of its pending acquisition of Apellis when it reports second-quarter results, with the transaction expected to close in the current quarter.