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At least four studies testing stroke and gene therapies and eye disorder treatment will be discontinued or put on hold to reduce research-related expenses, Biogen said in a statement.
Excluding items, Biogen earned $3.40 per share, beating estimates of $3.28 per share.
The drugmaker also reaffirmed its full-year adjusted profit forecast of $15 to $16 per share.
The company is betting on its second Alzheimer’s disease treatment, Leqembi, and depression drug zuranolone to offset slowing sales of Spinraza and multiple sclerosis drug Tecfidera.
