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Analyst
Paul Matteis
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 10on tracked calls
- Challenge rate
- 40%4 of 10 questions
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 10 of 10 questions from 2 companies
ALNYAlnylam Pharmaceuticals6 questions · 5 reporting periods · 1 of 6 challenging
Calendar 2026 Q2
By our math, under the new guide, you're growing around 50-ish percent at the midpoint in the second half of this year.
Show response
Yvonne owned the cut and pivoted to fundamentals; Jeff quantified that the midpoint requires Q3 and Q4 growth consistent with Q2, and Tolga defended the 2030 CAGR.
Calendar 2026 Q1
if you could try to help do some math for us on the call as it relates to the headwind this quarter from selling weeks
Show response
CFO confirmed Q1 had 12 vs 14 Wednesdays in Q4, creating ordering headwind. U.S. growth was primarily demand-driven with some inventory benefit offset by pricing. Provided Q2-Q4 Wednesday counts for modeling.
I just wanted to clarify on the selling weeks. We have that dynamic at like close to an 11% sequential headwind
Show response
CFO declined to confirm specific percentage but acknowledged the impact and pointed to more favorable Wednesday distribution in coming quarters as supporting growth confidence.
Calendar 2025 Q2
can you talk a little bit more about the criteria physicians are using
Show response
Management cited 30-50% stabilizer progression rate. CMO described physicians using ESC heart failure guidelines with biomarkers, echo, exercise tolerance, and symptoms.
Calendar 2025 Q1
there are certain physicians who they actually can use the drug without going through a PNT committee. Any metrics there
Show response
Management noted same-day dosing unlikely due to buy-and-bill logistics but emphasized patients start therapy quickly across all payer types with no insurance-based distinction.
Calendar 2024 Q4
are you expecting the average insurer to cross manage between Part B and Part D
Show response
Management reiterated rare disease coverage expectations but did not directly address step-through risk or cross-management between benefit categories.
BIIBBiogen4 questions · 4 reporting periods · 3 of 4 challenging
Calendar 2026 Q2
do you feel like Biogen needs to have a brain shuttle to capture what the peak sales potential of A-beta is?
Show response
Singhal confirmed it is a high priority internally and externally but shared no specifics; Viehbacher added that brain shuttles are the next generation.
Calendar 2026 Q1
how are you at least qualitatively right now thinking about synergies and leveraging existing capabilities
Show response
Alisha detailed plans: ~500K untreated GA patients in targeted offices. DTC advertising planned post-close. Biogen can bring patient services and commercial engine built from 7 launches in 7 years. Will look at reallocating Apellis spend to higher-impact tactics. Headquarters capabilities provide synergies in analytics, omnichannel, and patient support.
Calendar 2025 Q3
How should we think about the commercial implications if these studies are positive
Show response
Alisha described PCP referral quality pilot to be read out next quarter. BBM triage improving PET/CSF positivity rates from 50/50 to north of that. Commercial plan engagement underway for younger presymptomatic patients. Chris noted subcu initiation and BBM replacing PET/lumbar puncture would dramatically reduce neurologist workload and increase capacity.
Calendar 2024 Q4
do you feel like you can get back to sustainable revenue growth based on what you have internally and what you have high visibility into?
Show response
Chris acknowledged ~$4.5B MS revenue and ~$3B profit as headwind over 5-10 years. Pointed to LEQEMBI as biggest offset, pipeline maturation as the real growth inflection, and noted $1B moves the needle for Biogen.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| ALNY Alnylam Pharmaceuticals | 6 | 17%1 of 6 questions |
| BIIB Biogen | 4 | 75%3 of 4 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 50%1 of 2 questions | 2 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 1 | 100%1 of 1 question | 1 |
| 2025 Q4 | No questions recorded | — | — |
| 2026 Q1 | 3 | 0%none of 3 questions | 2 |
| 2026 Q2 | 2 | 100%2 of 2 questions | 2 |
- 2024 Q42 questions · challenge rate 50% (1 of 2 questions) · 2 companies
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q31 question · challenge rate 100% (1 of 1 question) · 1 company
- 2025 Q4No questions recorded
- 2026 Q13 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q22 questions · challenge rate 100% (2 of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Revenue Growth4
- Demand4
- Product Launch3
- Guidance Reliability2
- M&A2
- Innovation & R&D1
- Competitive Dynamics1
- Pricing1
- Regulation Policy1