Biogen (BIIB) Earnings: Can Leqembi Offset Falling MS Royalties?
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Biogen reports before the bell with Leqembi momentum on the line against shrinking MS royalties, the test of whether its Alzheimer's bet can actually move the needle on growth.
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Biogen is set to release its results before the opening bell on July 29, 2026, with investors focused squarely on whether its Alzheimer's drug Leqembi is generating enough momentum to compensate for the ongoing erosion of its multiple sclerosis royalty income. The MS franchise has long been a reliable cash engine for the company, but that stream has been shrinking, putting pressure on Biogen to demonstrate that its Alzheimer's bet is more than a scientific achievement — that it can actually drive meaningful top-line growth.
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Leqembi represents a pivotal strategic shift for Biogen, and this report will serve as a key checkpoint for how quickly the drug is gaining commercial traction. Analysts and investors alike will be parsing the revenue breakdown closely to judge whether the Alzheimer's treatment is on a trajectory capable of filling the gap left by declining MS contributions. The combination of a confirmed pre-market release and those competing dynamics makes this one of the more consequential earnings prints the company has faced in recent memory.
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Mentioned: BIIB