Nasdaq · Biotech stocks database
BIIB (Biogen Inc.) stock: $248.35, $36.71B market cap, $1.30B cash, $42.70B EV, $38.22B fully diluted market cap. Lead program: Tofersen (Amyotrophic Lateral Sclerosis), Phase 4. Data from Fully Diluted's biotech stocks database.
We have a broad portfolio of medicines to treat MS, have introduced the first approved treatment for SMA, co-developed treatments to address a defining pathology of Alzheimer’s disease and launched the first approved treatment to target a genetic cause of ALS.
Source: 10-K FY2025 via SEC EDGAR
| Cash | $1,303.9M |
|---|---|
| Debt | $7,292.0M |
| Net cash | -$5,988.1M |
| Enterprise value | $42,699.3M |
| Basic shares | 147.8M shares |
| Fully diluted shares | 153.9M shares |
| Fully diluted market cap | $38,216.3M |
| Cash per share | $8.82 |
| Quarterly burn | +$645.5M generated |
Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.
Cap table as of 2026-06-30.
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Litifilimab · Nov 8 - Dec 20 in 1d · Phase 3 · Lupus Erythematosus, Systemic
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|---|---|---|---|
| Nov 8 - Dec 20 in 1d | Litifilimab | Phase 3 | Lupus Erythematosus, Systemic | — |
| Nov 11 - Dec 23 in 4d | Litifilimab | Phase 3 | Lupus Erythematosus, Systemic | — |
| GUIDEDDec 1-31 in 24d | litifilimab Registrational data in SLE | Not disclosed | SLE | by end of 2026 |
| Dec 1, 2026 - Jan 12, 2027 in 24d | Litifilimab | Phase 3 | Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus | — |
| Jan 12 - Feb 23 in 9 wks | Felzartamab | Phase 3 | Antibody-mediated Rejection | — |
| Mar 16 - Apr 27 in 4 mo | BIIB145 | Phase 1 | Healthy Volunteer | — |
| Jul 1 - Aug 12 in 8 mo | BIIB017 (peginterferon beta-1a) | Phase 3 | Multiple Sclerosis, Relapsing-Remitting | — |
| Jul 12 - Aug 23 in 8 mo | Felzartamab | Phase 3 | Immunoglobulin A Nephropathy (IgAN) | — |
| Sep 18 - Oct 30 in 10 mo | Tofersen | Phase 3 | Amyotrophic Lateral Sclerosis Associated With a SOD1 Gene Mutation | — |
| Nov 5 - Dec 17 in 12 mo | Nusinersen | Phase 3 | Spinal Muscular Atrophy | — |
| Nov 11 - Dec 23 in 12 mo | Nusinersen | Phase 1 | Muscular Atrophy, Spinal | — |
| Dec 28, 2027 - Feb 8, 2028 in 14 mo | Omaveloxolone | Phase 3 | Friedreich Ataxia | — |
| Mar 13 - Apr 24 in 16 mo | Felzartamab | Phase 2 | Graves' Disease | — |
| Mar 23 - May 4 in 17 mo | Felzartamab | Phase 2 | Microvascular Inflammation | — |
| Jul 31 - Sep 11 in 21 mo | BIIB144 | Phase 1 | Healthy Volunteer | — |
| Aug 4 - Sep 15 in 21 mo | Salanersen | Phase 3 | Spinal Muscular Atrophy | — |
| Jan 9 - Feb 20 in 26 mo | Salanersen | Phase 3 | Muscular Atrophy, Spinal | — |
| Feb 1 - Mar 15 in 27 mo | Lecanemab | Phase 3 | Preclinical Alzheimer's Disease; Early Preclinical Alzheimer's Disease | — |
| Aug 7 - Sep 18 in 33 mo | BIIB059 (litifilimab) | Phase 3 | Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus | — |
| Aug 11 - Sep 22 in 34 mo | Lecanemab IV | Phase 3 | Early Alzheimer's Disease | — |
| Sep 7 - Oct 19 in 34 mo | Salanersen | Phase 3 | Muscular Atrophy, Spinal | — |
| Mar 11 - Apr 22 in 41 mo | Felzartamab | Phase 3 | Primary Membranous Nephropathy | — |
| May 10 - Jun 21 in 43 mo | Litifilimab | Phase 3 | Systemic Lupus Erythematosus (SLE) | — |
| Jul 16 - Aug 27 in 45 mo | Omaveloxolone | Phase 1 | Friedreich Ataxia | — |
| Jul 9 - Aug 20 in 57 mo | Felzartamab | Phase 3 | Antibody-mediated Rejection; Microvascular Inflammation | — |
| Dec 26, 2031 - Feb 6, 2032 in 62 mo | BIIB115 | Phase 1 | Healthy Volunteer; Muscular Atrophy, Spinal | — |
| Sep 8 - Oct 20 in 95 mo | Diroximel Fumarate | Phase 3 | Relapsing Forms of Multiple Sclerosis | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Per-asset detail extracted from the 10-Q filed 2026-07-29. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
| Lead drug | Tofersen |
|---|---|
| Lead indication | Amyotrophic Lateral Sclerosis |
| Lead phase | Phase 4 |
| Active trials | 39 |
| Collaborator trials | 17 |
| Trial | Phase | Status | Role | Sponsor | BP | Condition(s) | Mgmt guide |
|---|---|---|---|---|---|---|---|
| NCT04961567 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Lupus Erythematosus, Systemic | — |
| NCT04895241 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Lupus Erythematosus, Systemic | — |
| NCT05531565 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus | — |
| NCT06685757 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Antibody-mediated Rejection | — |
| NCT03958877 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Multiple Sclerosis, Relapsing-Remitting | — |
| NCT06935357 | Phase 3 | Recruiting | Sponsor | BIIB | — | Immunoglobulin A Nephropathy (IgAN) | — |
| NCT04856982 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Amyotrophic Lateral Sclerosis Associated With a SOD1 Gene Mutation | — |
| NCT05067790 | Phase 3 | Active, not recruiting | Sponsor | BIIB | — | Spinal Muscular Atrophy | — |
| NCT06953583 | Phase 3 | Recruiting | Sponsor | BIIB | — | Friedreich Ataxia | — |
| NCT07444476 | Phase 3 | Recruiting | Sponsor | BIIB | — | Spinal Muscular Atrophy | — |
| NCT07221669 | Phase 3 | Recruiting | Sponsor | BIIB | — | Muscular Atrophy, Spinal | — |
| NCT06044337 | Phase 3 | Enrolling by invitation | Sponsor | BIIB | — | Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus | — |
Sponsor-matched active trials from ClinicalTrials.gov (39 as sponsor, 17 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.
| Fund | Shares | Q/Q change | % of portfolio | Filing |
|---|---|---|---|---|
| Perceptive Advisors | 276,173 | +276,173 | 0.93% | 2026-08-14 |
| Sphera Biotech | 96,626 | +4,100 | 2.99% | 2026-08-14 |
| OrbiMed Advisors | 61,600 | no change | 0.25% | 2026-08-14 |
| ADAR1 Capital Management | 17,900 | +6,900 | 0.18% | 2026-08-14 |
| Logos Global Management | 0 | -200,000 | 0.00% | 2026-08-14 |
| Tang Capital Partners | 0 | -35,000 | 0.00% | 2026-08-14 |
Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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