Biogen
Q1 2022 Earnings Call
May 03, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning. My name is Cecilia, and I will be your conference operator today. At this time, I would like to welcome everyone to the Biogen first quarter 2022 earnings call and business update. [Operator instructions].
Thank you. I would now like to turn the conference over to Mr. Mike Hencke, head of investor relations. Mr.
Hencke, you may begin your conference.
Michael Hencke -- Head of Investor Relations
Thank you. Good morning, and welcome to Biogen's first quarter 2022 earnings call. Before we begin, I encourage everyone to go to the investors section of biogen.com to find the earnings release and related financial tables, including our GAAP financial measures and a reconciliation of the GAAP to non-GAAP financial measures that we will discuss today. Our GAAP financials are provided in Tables 1 and 2 and Table 4 includes a reconciliation of our GAAP to non-GAAP financial results.
We believe non-GAAP financial results better represent the ongoing economics of our business and reflects how we manage the business internally. We have also posted slides on our website that follow the discussions related to this call. I would like to point out that we will be making forward-looking statements, which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties and our actual results may differ materially.
I encourage you to consult the risk factors discussed in our SEC filings for additional detail. On today's call, I am joined by our chief executive officer, Michel Vounatsos; Dr. Priya Singhal, interim head of research and development; and our CFO, Mike McDonnell. As a reminder, during the Q&A portion of the call, we kindly ask that you limit yourself to one question.
I will now turn the call over to Michel.
Michel Vounatsos -- Chief Executive Officer
Thank you, Mike. Good morning, everyone, and thank you for joining us. We continue to execute on our core business objectives in the first quarter. Mike and Priya will review our quarterly performance and recent progress in R&D, while I focus on our strategy and near-term operational priorities.
Let me start with a few comments on the recent national coverage determination by CMS for amyloid beta targeted therapies for Alzheimer's disease. This decision effectively denies all Medicare beneficiaries access to Aduhelm. We are very disappointed by the final NCD. And as a result, we will substantially eliminate our commercial infrastructure for Aduhelm.