Biogen (NASDAQ: BIIB) reported third-quarter 2021 financial results before the regular market hours on Wednesday. The company reported Q3 revenue of $2.78 billion, down 18% year-over-year and higher than the Wall Street projection. Net income of $4.77 per share was also well above the target that analysts had anticipated.
BIIB shares rose 2% immediately following the announcement. The stock has gained a modest 10% since the beginning of this year.