Albireo Pharma Inc. (ALBO) shares declined 6.57% in after-hours on Friday, December 17, 2021, and closed the daily trading at $21.05. However, in the regular trading session of Friday, ALBO’s stock gained 3.30%. ALBO shares have fallen 45.38% over the last 12 months, and they have moved up 4.64% in the past week. Over the past three months, the stock has lost 25.84%, while over the past six months, it has plunged 36.27%.
Let’s discuss its recent news and developments.
ALBO topline data from phase 1 study of A3907
On December 16, 2021, Albireo Pharma, Inc. (ALBO) announced positive topline results from its Phase 1 clinical trial of A3907, the first oral-systemic apical sodium-dependent bile acid transporter (ASBT) inhibitor. The study achieved both primary and secondary objectives. With the potential to inhibit ileal, renal, and hepatic ASBT, A3907 could provide the optimal balance of efficacy and tolerability in patients with multiple liver diseases.
ALBO (odevixibat) Data presentation at NASPGHAN 2021
On December 13, 2021, Albireo Pharma, Inc. (ALBO), presented five posters on Bylvay (odevixibat) at the North American Society for Pediatric Gastroenterology, Hepatology and Nutrition (NASPGHAN) meeting which was held on December 12–18. Data showed the correlations in serum bile acid reductions and long-term improvements in pruritus and sleep in patients with progressive familial intrahepatic cholestasis (PFIC). The company also did a poster presentation on Phase 3 double-blind, randomized, placebo-controlled ASSERT study of Bylvay in Alagille syndrome (ALGS).
ALBO corporate changes
On December 09, 2021, Albireo Pharma, Inc. appointed Jan Mattsson, Ph.D., Chief Scientific Officer and co-founder of Albireo as the interim head of R&D. he will be replacing Pat Horn, M.D., Ph.D., Chief Medical Officer, who will be leaving at the end of the year after almost three and a half years with the Company. Dr. Mattsson is primed to lead the R&D organization with his institutional knowledge, vision for the pipeline and products, and ability to deliver against corporate objectives.
Also, on December 02, 2021, ALBO appointed Constantine Chinoporos as Chief Business Officer and a member of the Albireo Enterprise Leadership Team. Mr. Chinoporos has 30 years of extensive experience and he was most recently at Boston Pharmaceuticals where he was the Chief Business Officer responsible for all business development, new product planning operations, and in-licensing of 20 programs over his tenure.
ALBO recent financial results
On November 04, 2021, Albireo Pharma, Inc. (ALBO), released its financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- ALBO net revenue was $1.1 million for the third quarter of 2021 compared to zero revenue in Q3 2020.
- The cost of product revenue was $0.4 million for the third quarter of 2021.
- In Q3 2021, research and development expenses were $21.1 million compared to 22.2 million for the third quarter of 2020.
- Selling, general and administrative expenses were$17.6 million in Q3 2021 compared to $11.7 million for the third quarter of 2020.
- It earned a net income of $57.1 million compared to a net loss of $30.7 million for the third quarter of 2020.
The stock went up in the regular trading due to topline results for the phase 1 study of A3907. There was no reason for its decline in the after-hours on Friday. We hope that it will commence Monday trading with positive energy.