At last check in early trades today, Eiger BioPharmaceuticals Inc. (EIGR) shares were rising 4.49% to trade at $7.92. The previous session ended with EIGR stock at $7.58. EIGR stock’s volume so far today has been 0.38 million shares, higher than its average daily volume of 0.18 million shares within the past 50 days. In the last 12 months, shares of EIGR stock have fallen -32.92%, and in the last week, they have dropped -8.23%.
Price of EIGR stock fell -17.88% in the past three months, while it declined -28.56% in the past six months. As of today, EIGR is valued at $263.48 million and its outstanding shares are 33.89 million. EIGR stock was rising after its product received Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA). EIGR is also set to announce quarterly earnings today.
Which EIGR stock therapy has been approved by the FDA?
Eiger BioPharmaceuticals is a commercial-stage biopharmaceutical company developing and commercializing targeted therapies for very rare and ultra-rare diseases. Clinical research at EIGR is aimed at developing new therapies for infections of Hepatitis Delta Virus (HDV), the most severe form of viral hepatitis. A key part of the HDV platform strategy of Eiger is its complementary HDV treatment offering.
An oral, first-in-class prenylation inhibitor, lonafarnib is being evaluated by EIGR in a global Phase 3 trial. Also in Phase 3, peginterferon lambda is an interferon of type III and is well-tolerated as a first-in-class drug by EIGR. Zokinvy is the EGIR’s first FDA-approved product for the treatment of the Hutchinson-Gilford Progeria Syndrome (HGPS) and progeroid neuropathy. The European Medicines Agency (EMA) is reviewing a Marketing Authorization Application (MAA).
In a conference call scheduled for 4:15 PM ET today, Eiger BioPharmaceuticals will discuss its financial results and provide an update on its business. EIGR will make the webcast available live and for replay on its website. Webcasts will be archived by EIGR and made available for replay for at least 90 days after the event.
Moreover, Eiger BioPharmaceuticals has announced today that the FDA has approved the use of avexitide for treating congenital hyperinsulism (HI) granting it Breakthrough Therapy Designation. Drugs that may demonstrate substantial improvements over available therapy on a clinically significant endpoint (s) can qualify for Breakthrough Therapy Designation, which is designed to speed the development and review of drugs designed to treat serious conditions. Based on the results of three completed Phase 2 studies, EIGR submitted an application with data from 39 children and adolescents with congenital hyperinsulinism.
Drug development:
Avexitide from EIGR is being developed to treat metabolic disorders, including congenital hyperinsulinism, an extremely rare pediatric disorder of persistent hypoglycemia that causes irreversible brain damage in up to 50% of children. In congenital hyperinsulinism, an urgent and unmet medical need without approved treatment, Avexitide represents a promising and targeted approach of EIGR.
