Biogen (NASDAQ: BIIB) announced its third-quarter results on Wednesday. It's certainly true that Biogen did top analysts' estimates on both the top and bottom lines. Instead, there were three big problems with Biogen's Q3 results.
Shares of Ionis Pharmaceuticals (NASDAQ: IONS), a biotechnology company, have fallen around 13.6% since their closing price on Friday, Oct. 15, 2021. Investors were disappointed by phase 3 clinical trial results for tofersen, an experimental treatment for amyotrophic lateral sclerosis. Treatment with tofersen was supposed to help reduce physical symptoms of ALS, a progressive neurodegenerative disorder that affects around 20,000 new U.S. patients annually.
Image source: The Motley Fool. Biogen inc (NASDAQ: BIIB)Q3 2021 Earnings CallOct 20, 2021, 8:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning.