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Eiger BioPharmaceuticals (Nasdaq:EIGR) announced the appointment of William G. Kachioff as Chief Financial Officer and James A. Vollins as General Counsel, Chief Compliance Officer, and Corporate Secretary on April 13, 2023. Kachioff brings over 30 years of experience in life sciences, having previously served at Aduro Biotech and GenomeDx Biosciences. Vollins has extensive expertise in biotechnology law and compliance, with a history at BioDelivery Sciences and Pfizer. Both executives are expected to drive shareholder value during a pivotal time as the company prioritizes its programs. Eiger focuses on therapies for the hepatitis delta virus and has several programs with FDA breakthrough therapy designation.
Eiger BioPharmaceuticals reported its financial results for Q4 and full year 2022, showing a net revenue of $2.7 million for Q4 and $13.5 million for the full year, a slight decline compared to 2021. The decrease in Q4 revenue was due to lower units shipped, while the full-year increase benefitted from an upfront payment from AnGes, Inc. However, research and development expenses rose to $75.3 million for the year, reflecting increased headcount and clinical expenditures. The company reported a net loss of $25.1 million in Q4, resulting in a total net loss of $96.8 million for the year. Eiger maintains a cash position of $98.9 million as of year-end 2022.
Eiger BioPharmaceuticals announced the publication of Phase 3 TOGETHER study results in the New England Journal of Medicine, indicating that peginterferon lambda significantly decreases clinical events in patients with mild-to-moderate COVID-19. The study reported a 51% reduction in hospitalization or emergency room visits (primary endpoint) and a 42% decrease in hospitalizations along with a 50% reduction in COVID-19-related deaths. Conducted among predominantly vaccinated participants, the results were consistent across various SARS-CoV-2 variants. The study involved 1,949 patients, with peginterferon lambda demonstrating benefits particularly when administered within three days of symptom onset.
Eiger BioPharmaceuticals announced the immediate resignation of David A. Cory as President and CEO. Dr. David Apelian, previously Senior Clinical Advisor, has been appointed as Interim CEO. The company aims to start a search for a permanent CEO. Dr. Apelian brings 23 years of experience in clinical development, including leadership roles at Eiger since 2017. The Board expressed confidence in his ability to lead during this transition, especially given Eiger's promising late-stage pipeline and ongoing clinical programs.
Eiger BioPharmaceuticals reported positive topline results from its Phase 3 D-LIVR study, which evaluated lonafarnib for chronic hepatitis delta virus (HDV). The all-oral therapy achieved a response rate of 10.1% (p=0.0044), while the combination with peginterferon alfa reached 19.2% (p<0.0001), both significantly outperforming placebo (1.9%). Key secondary endpoints indicated substantial histological improvements. Eiger aims to meet with the FDA for a pre-NDA discussion, targeting regulatory submissions. Results highlight promising treatment options for patients with HDV.
Eiger BioPharmaceuticals (Nasdaq: EIGR) will host a conference call on December 8, 2022, at 8:30 AM ET to discuss the Phase 3 D-LIVR study results of their lonafarnib-based treatments for hepatitis delta virus (HDV). This study is significant as Eiger focuses on developing innovative therapies for HDV and other rare diseases. The company’s HDV platform features two first-in-class therapies currently in Phase 3 trials, both of which have received FDA Breakthrough Therapy designation. Investors can access the live call and its replay via Eiger's website.
Eiger BioPharmaceuticals (Nasdaq: EIGR) announced its participation in two upcoming investor conferences: the Stifel 2022 Healthcare Conference on November 15, 2022, at 10:55 a.m. ET, and the Jefferies London Healthcare Conference on November 16, 2022, at 11:30 a.m. GMT. Both events will feature company presentations and one-on-one meetings. Live webcasts will be available on Eiger's website, with replays accessible for at least 90 days. Eiger specializes in innovative therapies for hepatitis delta virus (HDV) and has multiple programs designated as FDA Breakthrough Therapy.
Eiger BioPharmaceuticals reported Q3 2022 financial results, with total revenue of $4.0 million, up from $3.0 million year-over-year. However, the company incurred a net loss of $27.1 million ($0.62 per share), widening from a $22.2 million loss in Q3 2021. The company maintains a strong cash position of $121.0 million expected to fund operations through 2024. Significant clinical milestones are anticipated, including topline data from the Phase 3 D-LIVR study for hepatitis delta virus and the initiation of the Avant program for congenital hyperinsulinism.