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Strongbridge Biopharma plc Reports Fourth Quarter and Full-Year 2018 Financial Results
~ RECORLEV (levoketoconazole) Phase 3 Clinical Program and Type C FDA Meeting in First Quarter Progressing as Planned ~
~ $145 Million Upfront Cash Payment and $36.7 Million Equity Investment from Novo Nordisk in Fourth Quarter 2018 Significantly Strengthened Companys Financial Position Including Full Repayment of Outstanding Debt ~
~ KEVEYIS® (dichlorphenamide) Full-Year 2018 Revenue of $16.8 Million, a 140 Percent Increase over 2017 Revenue of $7 Million Following Launch in April 2017 ~
~ Full-Year 2019 KEVEYIS® (dichlorphenamide) Revenue Guidance of $18 to $20 Million; Company Anticipates Positive KEVEYIS® Contribution Margin by End of First Quarter of 2020 ~
~ Company to Host Conference Call Today at 8:30 am ET ~
Dublin, Ireland and Trevose, Pa., February 26, 2019 Strongbridge Biopharma plc, (Nasdaq: SBBP), a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs, today reported financial results for the fourth quarter and full year ended December 31, 2018.
Strongbridge remains focused on its strategy of identifying, developing, and commercializing important treatments for rare diseases by continuing to build therapeutically-aligned franchises. We had three major accomplishments in 2018 positive results from SONICS, the purchase, launch and sale of MACRILEN (macimorelin), and the continued revenue growth of KEVEYIS® (dichlorphenamide), said Matthew Pauls, president and chief executive officer of Strongbridge Biopharma. These accomplishments position us for a successful 2019 when we expect to progress development of RECORLEV (levoketoconazole) for the treatment of endogenous Cushings syndrome, and continue to grow KEVEYIS® with a focus on achieving a positive contribution margin by the end of the first quarter of 2020.
Corporate & Financial Highlights
Rare Endocrine Franchise: RECORLEV (levoketoconazole)
· Detailed initial results from the pivotal Phase 3 SONICS study of RECORLEV for the treatment of endogenous Cushings syndrome were presented in October at the European NeuroEndocrine Association annual meeting and new data were presented at the Annual
The following information was filed by Strongbridge Biopharma Plc (SBBP) on Tuesday, February 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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