Strongbridge Biopharma plc Reports Full-Year 2015 Financial Results
“Strongbridge made significant strides in 2015 executing its strategic plan to build a global rare disease biopharmaceutical company. With the recent strategic prioritization of our rare endocrine disease portfolio, we are focused on advancing development of COR-003 and COR-005, and look forward to providing updates on our progress toward reaching respective near-term development milestones for these cornerstone Cushing’s syndrome and acromegaly assets. We continue to believe that the Company’s current cash resources are sufficient to fund planned operations into the fourth quarter of 2017, which is after the expected receipt of data from the COR-003 Phase 3 SONICS trial,” said
Full-Year 2015 Results
For the year ended
Research and development expenses were
General and administrative expenses were
Strongbridge had cash and cash equivalents of
About
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, are forward-looking statements. These statements relate to future events and involve known and unknown risks, including, without limitation, uncertainties regarding Strongbridge's strategy, plans, future financial position, timing of clinical study results, outcomes of product development efforts and objectives of management for future operations. The words "anticipate," "estimate," "expect," "intend," "may," "plan," "potential," "project," "target," "will," "would," or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on current expectations, estimates, forecasts and projections and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors. The forward-looking statements contained in this press release are made as of the date of this press release, and Strongbridge Biopharma does not assume any obligation to update any forward-looking statements except as required by applicable law.
STRONGBRIDGE BIOPHARMA plc | ||||||||||||
Consolidated Statement of Operations and Comprehensive Loss | ||||||||||||
(In thousands, except share and per share data) | ||||||||||||
December 31, | ||||||||||||
2014 | 2015 | |||||||||||
(in thousands, except share and | ||||||||||||
per share data) | ||||||||||||
Consolidated Statement of Operations Data: | ||||||||||||
Operating expenses: | ||||||||||||
Research and development | $ | 5,844 | $ | 20,135 | ||||||||
General and administrative | 4,588 | 22,719 | ||||||||||
Total operating expenses | 10,432 | 42,854 | ||||||||||
Operating loss | (10,432) | (42,854) | ||||||||||
Other income (expense), net: | ||||||||||||
Foreign exchange loss | (204) | (124) | ||||||||||
Other income (expense), net | 486 | (1,105) | ||||||||||
Total other income (expense), net | 282 | (1,229) | ||||||||||
Loss before income taxes | (10,150) | (44,083) | ||||||||||
Income tax benefit | 480 | 450 | ||||||||||
Net loss | (9,670) | (43,633) | ||||||||||
Net loss attributable to non‑controlling interest | — | 53 | ||||||||||
Net loss attributable to Strongbridge Biopharma | $ | (9,670) | $ | (43,580) | ||||||||
Net loss attributable to common shareholders, basic and diluted | $ | (9,670) | $ | (43,580) | ||||||||
Net loss per share attributable to common shareholders, basic and diluted | $ | (1.20) | $ | (2.62) | ||||||||
Weighted‑average shares used in computing net loss per share attributable to common shareholders, basic and diluted | 8,043,175 | 16,606,669 |
STRONGBRIDGE BIOPHARMA plc | |||||||
Select Consolidated Balance Sheet Information | |||||||
(in thousands, except share and per share data) | |||||||
December 31, | |||||||
2014 | 2015 | ||||||
(in thousands) | |||||||
Consolidated Balance Sheet Data: | |||||||
Cash and cash equivalents | $ | 15,632 | $ | 51,623 | |||
Total assets | 23,689 | 97,330 | |||||
Total liabilities | 4,868 | 6,403 | |||||
Total shareholders’ equity | 18,821 | 90,927 |
Contacts: Corporate and Media Relations Elixir Health Public RelationsLindsay M. Rocco +1 862-596-1304 [email protected] Investor RelationsICR Inc. Stephanie Carrington +1 646-277-1282 [email protected]USA 900 Northbrook Drive Suite 200Trevose, PA 19053 Tel. +1 610-254-9200 Fax. +1 215-355-7389