Welcome to our dedicated page for Eiger BioPharmaceuticals news (Ticker: EIGR), a resource for investors and traders seeking the latest updates and insights on Eiger BioPharmaceuticals stock.
Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR) is a commercial-stage biopharmaceutical company headquartered at 500 Crescent Ct Ste 300, Dallas, Texas. The company focuses on the development of innovative therapies for rare and ultra-rare diseases.
Recently, Eiger has redirected its efforts towards the development of avexitide for hyperinsulinemic hypoglycemia indications. This includes significant potential in treating post-bariatric hypoglycemia (PBH), where Phase 2 clinical trials have shown promising results, and the FDA has provided alignment on Phase 3 endpoints and study design. Eiger also plans to develop avexitide for congenital hyperinsulinism as a secondary indication.
The company continues to commercialize Zokinvy® (lonafarnib) for the treatment of Hutchinson-Gilford progeria syndrome (HGPS) and processing-deficient progeroid laminopathies (PDPL). Eiger recently received marketing approval for Zokinvy in Japan through a partnership with AnGes, Inc., further expanding its global reach.
In a strategic move, Eiger is exploring partnering opportunities for its virology assets, including lonafarnib-based regimens for hepatitis delta virus (HDV) and peginterferon lambda. Despite recent challenges, such as the discontinuation of the Phase 3 LIMT-2 study of peginterferon lambda due to safety concerns, Eiger remains committed to its primary goals.
Financially, Eiger reported total revenue of $4.6 million for Q2 2023 and $3.2 million for Q3 2023, indicating a stable financial condition supported by strategic cost reductions and workforce optimization. The company’s cash runway is extended into the fourth quarter of 2024, enhancing its capacity to pursue ongoing projects and strategic initiatives.
As of January 2024, Eiger announced a 1-for-30 reverse stock split to comply with Nasdaq's listing requirements and maintain its market position. The company is also navigating a Chapter 11 bankruptcy process to facilitate an orderly wind down of its operations and the sale of its assets, including a “stalking horse” agreement for Zokinvy.
Dr. David Apelian, with extensive experience in clinical development and regulatory affairs, leads Eiger as its CEO, guiding the company through these transformative times.
For further details and updates, visit the company’s website at www.eigerbio.com.
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