Eiger BioPharmaceuticals Reports Second Quarter 2018 Financial Results
Key Achievements 2Q 2018 To Date
Lonafarnib in Hepatitis D Virus (HDV)
Lonafarnib in HDV
- Phase 3 D-LIVR study protocol submitted to the
FDA - U.S. Patent Office Notice of Allowance for ritonavir-boosted lonafarnib in HDV
Lambda in HDV
- Phase 2 LIFT (Lambda InterFeron combo Therapy) study initiated at NIH
- Phase 2 LIMT (Lambda Interferon Mono Therapy) study dosing completed
Lonafarnib in Hutchinson-Gilford Progeria Syndrome (HGPS or Progeria)
- · Expanded Merck license agreement to include progeria and progeroid laminopathies
- · Collaboration agreement with
The Progeria Research Foundation
Exendin 9-39 in Post-Bariatric Hypoglycemia (PBH)
- Phase 2 PREVENT study dosing initiated
Ubenimex in Lymphedema
- Phase 2 ULTRA study dosing completed (N=54)
Corporate Activity
- Completed public offering raising
$42.9 million in net proceeds
Anticipated 2018 Milestones
- Lonafarnib in HDV:
FDA and EMA guidance on Phase 3 D-LIVR program - Lonafarnib in HDV: Phase 3 D-LIVR study initiation
- Lambda in HDV: Phase 2 LIMT study end of treatment topline data
- Lonafarnib in Progeria:
FDA and EMA guidance on regulatory pathway - Lonafarnib in Progeria: Launch of expanded access program (EAP)
- Exendin 9-39 in PBH: Phase 2 PREVENT study topline data
- Ubenimex in Lymphedema: Phase 2 ULTRA study topline data
Second Quarter 2018 Financial Results
Net loss for the second quarter of 2018 was
Research and development expenses for the second quarter of 2018 were
General and administrative expenses for the second quarter of 2018 were
On
About Eiger
Eiger is a late stage biopharmaceutical company focused on the development and commercialization of targeted therapies for rare diseases. We innovate by developing well-characterized drugs in newly identified or novel targets in rare diseases. Our mission is to systematically reduce the time and cost of the drug development process to more rapidly deliver important medicines to patients. Our lead program in Hepatitis Delta Virus (HDV) infection is advancing into Phase 3 with a single, pivotal trial (D-LIVR Study) planned to initiate by the end of 2018. For additional information about Eiger and its clinical programs, please visit www.eigerbio.com.
Note Regarding Forward-Looking Statements
This press release contains "forward-looking" statements that involve substantial risks and uncertainties. All statements other than statements of historical facts, including statements regarding our future financial condition, timing for and outcomes of clinical results, business strategy and plans and objectives for future operations, are forward looking statements. These forward-looking statements include terminology such as "believe," "will," "may," "estimate," "continue," "anticipate," "contemplate," "intend," "target," "project," "should," "plan," "expect," "predict," "could," "potentially" or the negative of these terms. Forward looking statements are our current statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, our ongoing and planned clinical development, including whether the D-LIVR study will be supported by the
Various important factors could cause actual results or events to differ materially from the forward-looking statements that Eiger makes, including the risks described in the "Risk Factors" sections in the Quarterly Report on Form 10-Q for the quarter ended
Investors:
Eiger BioPharmaceuticals Inc. |
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Selected Statements of Operations Financial Data |
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(in thousands, except per share amounts) |
|||||||||
(unaudited) |
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Three Months Ended |
Six Months Ended |
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June 30, |
June 30, |
||||||||
2018 |
2017 |
2018 |
2017 |
||||||
Operating expenses: |
|||||||||
Research and development |
$ 6,372 |
$ 8,131 |
$ 11,884 |
$ 15,595 |
|||||
Genearal and administrative |
3,237 |
2,946 |
6,231 |
6,468 |
|||||
Total operating expenses |
9,609 |
11,077 |
18,115 |
22,063 |
|||||
Loss from operations |
(9,609) |
(11,077) |
(18,115) |
(22,063) |
|||||
Interest expense |
(495) |
(378) |
(893) |
(741) |
|||||
Interest income |
189 |
113 |
283 |
223 |
|||||
Other income (expense), net |
- |
196 |
(21) |
196 |
|||||
Net loss |
$ (9,915) |
$ (11,146) |
$ (18,746) |
$ (22,385) |
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Net loss per common share: |
|||||||||
Basic and diluted |
$ (0.82) |
$ (1.33) |
$ (1.66) |
$ (2.68) |
|||||
Shares used to compute net loss per common share: |
|||||||||
Basic and diluted |
12,045,355 |
8,367,030 |
11,291,540 |
8,363,803 |
Eiger BioPharmaceuticals Inc. |
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Selected Blance Sheets Financial Data |
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(in thousands) |
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(unaudited) |
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June 30, |
December 31, |
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2018 |
2017 |
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Balance Sheet Data: |
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Cash, cash equivalents and investments |
$ 73,492 |
$ 41,779 |
||||
Working capital |
66,145 |
35,222 |
||||
Total assets |
75,338 |
42,882 |
||||
Total stockholders' equity |
49,281 |
22,522 |
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