Eiger BioPharmaceuticals Reports Fourth Quarter and Full Year 2017 Financial Results
"We met with the
Key Achievements
Hepatitis D Virus (HDV) Program
Lonafarnib in HDV
- Positive Phase 2 LOWR HDV (LOnafarnib With Ritonavir in HDV) Program presentations at The International Liver Congress™ (EASL 2017)
- Positive face to face
FDA meeting held onFebruary 14, 2018
Lambda in HDV
- Positive Phase 2 interim data from LIMT HDV (Lambda Interferon Monotherapy Trial in HDV) reported at
American Association for the Study of Liver Diseases (AASLD 2017) meeting - Orphan Drug Designation granted by
FDA - Fast Track Designation granted by
FDA
Exendin 9-39 in PBH
- Positive Phase 2 MAD data at
American Diabetes Association (ADA 2017) meeting - Phase 1 PK study successfully completed with novel liquid formulation
- Phase 2 PREVENT (28-day) study initiation
Ubenimex in Lymphedema
- Phase 2 ULTRA study enrollment completed; N=54
Corporate Activity
David Apelian , MD, PhD, MBA, pharma industry veteran, appointed to BoardEvan Loh , MD, pharma industry veteran, appointed to Board- Financing completed in
October 2017 raising$19.8 million in net proceeds Eldon Mayer III , pharma industry veteran, appointed to BoardDavid Apelian joined Eiger as COO and Executive Medical Officer
Anticipated 2018 Milestones
- Lonafarnib in HDV: Initiation of Phase 3 Program
- Lambda in HDV: Dosing completion in LIMT study
- Exendin 9-39 in PBH: Phase 2 PREVENT study completion
- Ubenimex in Lymphedema: Phase 2 ULTRA study completion
Fourth Quarter and Full Year 2017 Financial Results
Net loss for the fourth quarter of 2017 was
Research and development expenses for the fourth quarter of 2017 were
General and administrative expenses for the fourth quarter of 2017 were
As of
About Eiger
Eiger is a clinical-stage biopharmaceutical company focused on the development and commercialization of targeted therapies for rare diseases. We are committed to translational innovation and the development of well-characterized drugs acting on newly identified or novel targets. Our mission is to systematically reduce the time and cost of the drug development process to more rapidly deliver important medicines to patients with rare diseases. Our lead program in Hepatitis Delta Virus (HDV) infection, is moving into Phase 3 with a single, pivotal trial planned to initiate by the end of the year. 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, the timing of and our ability to initiate or enroll clinical trials, and our ability to make regulatory filings and obtain and maintain regulatory approvals for lonafarnib, ubenimex, PEG IFN lambda, exendin 9-39 and our other product candidates, our intellectual property position, the potential safety, efficacy, reimbursement, convenience clinical and pharmaco-economic benefits of our product candidates, commercial opportunities, including potential market sizes and segments, our ability to commercialize, expectations regarding clinical trial data and
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 Annual Report on Form 10-K for the year ended
Investors: Jim Welch
Phone: 650-279-9845
Email: [email protected]
Three Months Ended |
Year Ended |
||||||||
December 31, |
December 31, |
||||||||
2017 |
2016 |
2017 |
2016 |
||||||
Operating expenses: |
|||||||||
Research and development |
$ 7,779 |
$ 9,377 |
$ 29,519 |
$ 33,014 |
|||||
General and administrative |
2,806 |
3,532 |
12,001 |
13,106 |
|||||
Total operating expenses |
10,585 |
12,909 |
41,520 |
46,120 |
|||||
Loss from operations |
(10,585) |
(12,909) |
(41,520) |
(46,120) |
|||||
Interest expense |
(395) |
(5) |
(1,524) |
(690) |
|||||
Interest income |
89 |
89 |
410 |
97 |
|||||
Other expense, net |
(2) |
57 |
186 |
(374) |
|||||
Net loss |
$ (10,893) |
$ (12,768) |
$ (42,448) |
$ (47,087) |
|||||
Net loss per common share: |
|||||||||
Basic and diluted |
$ (1.11) |
$ (1.53) |
$ (4.86) |
$ (7.84) |
|||||
Shares used to compute net loss per common share: |
|||||||||
Basic and diluted |
9,799,328 |
8,356,659 |
8,727,935 |
6,007,027 |
|||||
Eiger BioPharmaceuticals Inc. |
|||||||||
Selected Balance Sheets Financial Data |
|||||||||
(in thousands) |
|||||||||
(unaudited) |
|||||||||
December 31, |
December 31, |
||||||||
2017 |
2016 |
||||||||
Balance Sheet Data: |
|||||||||
Cash, cash equivalents and investments |
$ 41,779 |
$ 59,936 |
|||||||
Working capital |
35,222 |
55,229 |
|||||||
Total assets |
42,882 |
60,736 |
|||||||
Total stockholders' equity |
22,522 |
40,721 |
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