On 20 March 2020, Albireo Pharma, Inc. (NASDAQ: ALBO) changed 12.89% to recent value of $15.41. The stock transacted 68338 shares during most recent day however it has an average volume of 124.3K shares. It spotted trading -60.17% off 52-week high price. On the other end, the stock has been noted 36.86% away from the low price over the last 52-weeks.

Albireo Pharma, Inc. (ALBO) recently provided a business update and stated financial results for the fourth quarter and year ended December 31, 2019.

Fourth Quarter 2019 Financial Results

  • Revenues were $6.4M for the fourth quarter of 2019, contrast to $0.6M for the fourth quarter of 2018. The year-over-year increase was primarily the result of estimated milestone royalty revenue received from EA Pharma for elobixibat for the treatment of chronic constipation.
  • R&D expense was $14.2M for the fourth quarter of 2019, contrast to $9.5M for the fourth quarter of 2018. The year-over-year change was primarily the result of program expenses for odevixibat and elobixibat, as well as personnel costs, as we continue to increase our program activities and headcount.
  • G&A expense was $6.2M for the fourth quarter of 2019, contrast to $5.8M for the fourth quarter of 2018. The year-over-year change was primarily the result of personnel and related expenses, as we continue to increase our headcount.
  • Net loss for the fourth quarter of 2019 was $7.5M, or $(0.57) per share, contrast to $15.9M, or $(1.34) per share for the fourth quarter of 2018.

Financial Results for the Year Ended December 31, 2019

  • Revenues were $9.6M for the year ended December 31, 2019, contrast to $12.7M for the year ended December 31, 2018. The year-over-year decline is primarily Because of a milestone payment received in 2018 from EA Pharma Because of the authorization by the Japanese MHLW of elobixibat for the treatment of chronic constipation offset by royalty revenue from EA Pharma.
  • R&D expense was $45.6M for 2019 up from $31.7M for the same period in 2018. The year-over-year increase was primarily the result of program expenses for odevixibat, elobixibat and preclinical work, as well as personnel costs, as we continue to increase our program activities and headcount.
  • G&A expense was $23.0M for 2019, contrast to $18.1M for the previous year. The year-over-year increase was primarily the result of personnel and stock-based compensation, as we continue to increase our headcount.
  • Net loss for the year ended December 31, 2019, was $62.7M, or $(5.04) per share, contrast to $46.1M, or $(3.94) per share for the year ended December 31, 2018.
  • The company had cash and cash equivalents at December 31, 2019, of $131.8M, which compares to $163.9M at December 31, 2018.

Financial Guidance
For the full year 2020, the company anticipates total expenses, including R&D and G&A expenses, to be about $100M. Following a February 2020 ordinary stock offering of $43.2M, Albireo now anticipates that its current cash balance will be sufficient to meet its operating needs into the second half 2021.

The price moved ahead of -22.19% from the mean of 20 days, -31.90% from mean of 50 days SMA and performed -35.02% from mean of 200 days price. Company’s performance for the week was 1.94%, -47.54% for month and YTD performance remained -46.30%.

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