- Albireo Pharma Inc (NASDAQ: ALBO) reported second-quarter revenue of $8.21 million, with product revenue of $5.89 million, an increase of 238% year-over-year, beating the consensus of $7.45 million.
- As of the end of Q2 2022, there are 245 total Bylvay patients—which include reimbursed, non-reimbursed, and rollover patients—representing +18% growth compared to Q1.
- Bylvay reimbursement was confirmed in the U.S., Germany, United Kingdom, Italy, and Belgium.
- EPS was $(2.04), which missed the consensus of $(1.65).
- R&D expenses were $22.9 million, compared with $20.9 million in 2Q21.
- The company had cash and cash equivalents of $181.0 million as of June 30, 2022.
- Based on current revenue and expense projections, Albireo Pharma expects sufficient cash into 2024. Bylvay 2022 sales are now expected to be $24 million.
- The company is On track to report topline data from the Phase 3 ASSERT study in Alagille syndrome (ALGS) this fall.
- ALBO plans to initiate a Phase 1 first-in-human study for A2342 by the end of 2022. This will follow recently completed IND-enabling toxicology studies. A2342 is the first oral sodium-taurocholate co-transporting peptide (NTCP) inhibitor in development for hepatitis B and D.
- Price Action: ALBO shares are trading lower by 16.20% at $20.90 during the post-market session on Monday.
Read at Benzinga