BOSTON, March 14, 2017 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (NASDAQ:ALBO), an orphan pediatric liver disease company developing novel bile acid modulators, today announced financial results for the year ended December 31, 2016.
Albireo reported a net loss of $16.3 million for the year ended December 31, 2016, compared with a net loss of $6.8 million for 2015. As of December 31, 2016, cash and cash equivalents totaled $29.9 million.
“2016 was a transformative year for Albireo, as we generated promising Phase 2 data for our lead product candidate, A4250, in children with cholestatic liver disease and successfully became a publicly traded company listed on NASDAQ,” said Ron Cooper, President and Chief Executive Officer of Albireo. “As we begin 2017, we are engaging with the FDA and EMA to finalize the design for our planned Phase 3 trial of A4250 in children with progressive familial intrahepatic cholestasis, a rare and highly debilitating genetic liver disorder, which we expect to begin in the second half of the year.”
Albireo reported a net loss of $16.3 million for the year ended December 31, 2016, compared with a net loss of $6.8 million for 2015. As of December 31, 2016, cash and cash equivalents totaled $29.9 million.
“2016 was a transformative year for Albireo, as we generated promising Phase 2 data for our lead product candidate, A4250, in children with cholestatic liver disease and successfully became a publicly traded company listed on NASDAQ,” said Ron Cooper, President and Chief Executive Officer of Albireo. “As we begin 2017, we are engaging with the FDA and EMA to finalize the design for our planned Phase 3 trial of A4250 in children with progressive familial intrahepatic cholestasis, a rare and highly debilitating genetic liver disorder, which we expect to begin in the second half of the year.”
