BIIB - Kirby McInerney LLP Reminds Biogen Inc. (BIIB) Investors of Class Action Filing and Encourages Investors to Contact the Firm | Benzinga

NEW YORK, June 13, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Colorado on behalf of those who acquired Biogen, Inc ("Biogen" or the "Company") (NASDAQ:BIIB) securities during the period of February 3, 2022 through February 13, 2024, inclusive ("the Class Period"). Investors have until July 22, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

[Click here to learn more about the class action]

On November 8, 2023, Biogen negatively revised non-GAAP diluted EPS guidance for fiscal year 2023 in a range of $14.50 to $15.00 per share, significantly below its previous guidance of fiscal year 2023 non-GAAP diluted EPS of $15.00 to $16.00 per share, citing approximately $0.75 of dilution from its acquisition of Reata. On this news, price of Biogen shares declined by $13.92 per share to close at $231.69 per share on November 8, 2023.

On January 8, 2024, Biogen's CEO Christopher A. Viehbacher discussed challenges with the launch of Leqembi, a treatment the Company was developing for Alzheimer's disease, and walked back prior expectations of having 10,000 patients on the drug by the end of March 2024. On this news, the price of Biogen shares declined by $10.77 per share over three consecutive trading days to close at $247.21 per share on January 11, 2024.

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