Strongbridge Biopharma Plc. (SBBP), a biopharmaceutical company known for targeting rare diseases, saw a declining trend in its share price on Wednesday after the price steadily declined some 0.50% to $1.99. In the pre-market, SBBP stock is regaining the price, as it stands at $2.11, after an increase of 6.03%.
Q2 financial results
On the 5th of August, Strongbridge Biopharma released the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. According to the details, the company’s net revenue for the Drug named “KEVEYIS” during the quarter stands at $10 million, as compared to the net revenue of $7.8 million it brought in during the equivalent period of 2020. The cost of sales during the quarter stood at $0.5 million, as compared to the cost of sales of $0.4 million during the equivalent period of 2020, the reason mainly being the increased volume of sales. The selling, general and administrative expenses were $16 million, as compared to the expenses of $9.6 million during the equivalent period of 2020, the main reason being an increase in professional fees.
SBBP Year-to-date financial results
Alongside releasing quarterly data, Strongbridge Biopharma also released Year-to-date financial results. According to those, the net revenue from the sales of KEVEYIS increased by $4 million to $18.4 million, as compared to the net revenue of $14.4 million during the equivalent six-month period of 2020. The cost of sales for the six month period was $0.9 million, as compared to the cost of sales of $1.4 million during the equivalent period of 2020. The selling, administrative and general expenses were $26.9 million, as compared to the selling, administrative and general expenses of $20 million during the equivalent period of 2020.
Publishing of open label study
On the 13th of July, Strongbridge announced that the post hoc analyses for the one-year open-label study evaluating daily use of KEVEYIS was published in the peer-reviewed medical journal “Muscle and Nerve”, with the results confirming that long term treatment with KEVEYIS is safe and effective. “These results reinforce the utility of KEVEYIS as an effective option in treating PPP, a life-long rare, hereditary skeletal muscle disorder that leads to debilitating attacks of muscle weakness”, said Fredric Cohen, M.D, Chief Medical Officer of Strongbridge Biopharma.
Investigations by law firms
In recent months, different law firms have announced to investigate a possible breach of the fiduciary duties, with regards to the merger of XERS with SBBP. The merger caused the XERS shareholders to exchange each share of XERS owned for one share of SBBP. Law firms encouraged the investors to share information relating to the breach.
What’s next for SBBP stock?
Looking forward, Strongbridge Biopharma Plc. (SBBP) seems well on track to further improve its financial stature in near future. The revenue estimates by analysts for next year stand at $60.92 million. The earning per share for the next year is estimated to increase some 69.20%, hence, the future performance of Strongbridge Biopharmaceuticals could looks set to achieve phenomenal success in the future. Short-term volatility could impart its influence upon SBBP stock, but long-term investors could attain benefits from SBBP stock.
