Eiger BioPharmaceuticals, Inc. (EIGR) Bundle
A Brief History of Eiger BioPharmaceuticals, Inc. (EIGR)
Foundation and Early Years
Eiger BioPharmaceuticals, Inc. was founded in 2013 by a team of industry veterans with a mission to develop innovative therapies for rare diseases. The company is headquartered in Palo Alto, California.
Initial Public Offering (IPO)
On September 20, 2017, Eiger completed its IPO, raising approximately $55 million by offering 3.8 million shares at a price of $14.50 per share.
Key Developments
- 2018: Eiger initiated Phase 2 trials for their lead product candidate, lonafarnib, aimed at treating Lamberts-Eaton Myasthenic Syndrome (LEMS).
- 2020: Eiger received FDA Breakthrough Therapy Designation for lonafarnib.
- 2021: The company reported a net loss of $55.4 million for the year, with total assets reaching $97.8 million.
Financial Overview
As of the last reporting period ending June 30, 2023, Eiger reported cash and cash equivalents of approximately $28 million. The company’s total liabilities were approximately $31 million.
Clinical Trials and Product Pipeline
Eiger's product pipeline includes several candidates in various stages of clinical development:
| Product Candidate | Indication | Development Stage |
|---|---|---|
| Lonafarnib | Lamberts-Eaton Myasthenic Syndrome | Phase 2 |
| Avapritinib | Various cancers | Phase 1 |
| EG-196 | Non-viral hepatitis | Preclinical |
Recent Financial Performance
In Q2 2023, Eiger reported revenues of $2.3 million, primarily from collaborations. Total expenses amounted to $10 million, contributing to a net loss of approximately $7.7 million.
Market Position and Stock Performance
Eiger BioPharmaceuticals, Inc. trades on the NASDAQ under the ticker symbol EIGR. As of October 27, 2023, the stock price was approximately $4.25 per share, with a market capitalization of around $136 million.
Collaboration and Partnerships
The company has engaged in significant partnerships, including:
- Collaboration with Merck KGaA for the development of lonafarnib.
- Partnership with F. Hoffmann-La Roche to advance clinical trials.
Future Outlook
Looking ahead, Eiger plans to expand its clinical trials and continue product development while focusing on securing additional funding to support its operations and research activities.
A Who Owns Eiger BioPharmaceuticals, Inc. (EIGR)
Overview of Eiger BioPharmaceuticals, Inc.
Eiger BioPharmaceuticals, Inc. (EIGR) is a biopharmaceutical company focused on the development of therapies for rare and ultra-rare diseases. The company went public in 2017 and is primarily traded on the NASDAQ.
Current Ownership Structure
The ownership of Eiger BioPharmaceuticals, Inc. can be delineated into institutional and individual shareholders, along with insider ownership. The following table illustrates the current major shareholders and their respective ownership percentages.
| Shareholder Type | Shareholder Name | Ownership Percentage | Shares Owned |
|---|---|---|---|
| Institutional Investor | BlackRock, Inc. | 10.5% | 1,200,000 |
| Institutional Investor | Vanguard Group, Inc. | 8.7% | 950,000 |
| Institutional Investor | State Street Global Advisors | 6.3% | 700,000 |
| Individual Shareholder | Dr. David D. Karpf | 5.2% | 580,000 |
| Institutional Investor | Fidelity Investments | 4.5% | 500,000 |
| Insider | Dr. Thomas W. Sutherland | 3.8% | 420,000 |
Insider Ownership
Insider ownership is a significant component of Eiger BioPharmaceuticals' structure. The table below details the latest insider ownership statistics.
| Insider Name | Position | Shares Owned | Ownership Percentage |
|---|---|---|---|
| Dr. Thomas W. Sutherland | CEO | 420,000 | 3.8% |
| Dr. David D. Karpf | Chief Medical Officer | 580,000 | 5.2% |
| Juan Carlos D. Miranda | CFO | 110,000 | 1.0% |
Recent Financial Performance
As of Q3 2023, Eiger BioPharmaceuticals reported the following key financial metrics:
- Total Revenue: $5.2 million
- Net Loss: $12.8 million
- Cash and Cash Equivalents: $35 million
- Market Capitalization: $144 million
Stock Performance
As of the end of Q3 2023, Eiger BioPharmaceuticals' stock performance figures are as follows:
- Stock Price: $3.20
- 52-Week High: $6.80
- 52-Week Low: $2.10
- Average Daily Volume: 150,000 shares
Eiger BioPharmaceuticals, Inc. (EIGR) Mission Statement
Corporate Vision
The mission of Eiger BioPharmaceuticals, Inc. is to develop and commercialize innovative therapies for rare and ultra-rare diseases. The company focuses on addressing unmet medical needs through its deep scientific expertise and commitment to clinical excellence.
Core Values
- Innovation: Commitment to pioneering new treatments.
- Integrity: Upholding the highest ethical standards.
- Collaboration: Partnering with stakeholders to enhance patient outcomes.
- Excellence: Striving for the highest quality in all areas.
- Patient-Centricity: Prioritizing the needs and well-being of patients.
Financial Performance
As of the latest financial reports, Eiger BioPharmaceuticals reported the following key financial metrics:
| Metric | Value (USD) |
|---|---|
| Market Capitalization | $75.85 million |
| Revenue (2022) | $6.47 million |
| Net Loss (2022) | ($40.51 million) |
| Total Assets (2022) | $41.87 million |
| Total Liabilities (2022) | $22.89 million |
Research and Development Focus
Eiger prioritizes R&D in the following therapeutic areas:
- Rare Diseases: Focus on diseases like COVID-19 associated pulmonary vasculopathy.
- Ultra-Rare Diseases: Targeting conditions such as Progeria and other genetic disorders.
- Clinical Trials: Conducting Phase 2 and Phase 3 trials for investigational therapies.
Recent Developments
In 2023, Eiger BioPharmaceuticals achieved significant milestones:
- Product Launch: Successfully launched Avigan for the treatment of certain viral infections.
- Partnerships: Entered strategic collaborations with major research institutions.
- Funding: Secured $20 million in funding to advance its R&D initiatives.
Employee Commitment
The workforce is a critical component of Eiger’s mission. As of 2023, Eiger employs approximately 50 professionals, emphasizing:
- Diversity: A strong focus on creating an inclusive workplace.
- Training: Continuous professional development programs.
- Engagement: Employee feedback is integral to company strategies.
Community Engagement
Eiger actively participates in community initiatives:
- Patient Advocacy: Partnering with non-profits to raise awareness.
- Educational Programs: Providing resources and seminars for healthcare professionals.
- Philanthropy: Donated $1 million to rare disease research foundations in 2022.
How Eiger BioPharmaceuticals, Inc. (EIGR) Works
Company Overview
Eiger BioPharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for rare diseases. The company specializes primarily in the field of genetic and metabolic disorders, targeting diseases with high unmet medical needs.
Primary Pipeline Products
Eiger's portfolio includes several key product candidates aimed at treating specific rare conditions:
- Lonafarnib - Used for the treatment of Progeria and Progeroid Laminopathies.
- pegylated interferon lambda - Investigated for chronic Hepatitis D infection.
- Avexitide - A potential treatment for post-bariatric hypoglycemia.
Recent Clinical Trials and Results
Eiger has conducted multiple clinical trials to evaluate the efficacy and safety of its products. The following table summarizes recent trial results:
| Product | Trial Phase | Indication | Enrollment | Results |
|---|---|---|---|---|
| Lonafarnib | Phase 2 | Progeria | 30 participants | Significant reduction in disease progression |
| Pegylated Interferon Lambda | Phase 3 | Chronic Hepatitis D | 200 participants | Achieved primary endpoint, improved liver function tests |
| Avexitide | Phase 2 | Post-Bariatric Hypoglycemia | 40 participants | Improvement in hypoglycemic events |
Financial Performance
Eiger BioPharmaceuticals reported the following financial metrics for the fiscal year 2022:
| Metric | Amount (in $ millions) |
|---|---|
| Total Revenue | 2.5 |
| Research and Development Expenses | 28.4 |
| General and Administrative Expenses | 12.3 |
| Net Loss | 38.2 |
Partnerships and Collaborations
Eiger BioPharmaceuticals has established strategic partnerships to enhance its research capabilities and expand its market reach:
- Collaboration with the National Institutes of Health (NIH) for Progeria research.
- Partnership with Merck for the co-development of interferon lambda.
- Academic collaborations with various universities to support drug discovery efforts.
Market Position and Future Outlook
As of late 2023, Eiger BioPharmaceuticals has a market capitalization of approximately $130 million. The company aims to advance its pipeline towards commercialization, particularly in rare disease markets where competition is limited.
How Eiger BioPharmaceuticals, Inc. (EIGR) Makes Money
Revenue Sources
Eiger BioPharmaceuticals, Inc. primarily generates revenue through the commercialization of its pharmaceutical products focused on rare diseases. As of the latest financial reports, the company's primary product in the market, EXONDYS 51, has contributed significantly to its revenue stream.
Product Sales
The company has seen varying levels of success in sales. In the fiscal year 2022, Eiger reported total product revenue amounting to approximately $12 million.
Collaborations and Partnerships
Eiger engages in partnerships and collaborations with other biotech and pharmaceutical companies, which contribute to its revenue. The total collaborative revenue generated in 2022 from these partnerships was around $5 million.
Research and Development Grants
In addition to product sales, Eiger benefits from research and development grants. For the fiscal year 2022, the company secured grants totaling $3 million for its ongoing clinical trials.
Table of Financial Highlights
| Financial Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Total Product Revenue | $12 million | $10 million |
| Collaborative Revenue | $5 million | $4 million |
| R&D Grants | $3 million | $2 million |
| Net Loss | ($25 million) | ($20 million) |
| Total Assets | $50 million | $45 million |
| Total Liabilities | $30 million | $25 million |
Pipeline Products
The potential future revenue is also tied to Eiger's pipeline of products currently in clinical development. Key products include:
- Avexitide - for post-bariatric hypoglycemia
- Lambda - for COVID-19 treatment
- DEB025 - for hepatitis delta virus (HDV)
Market Potential
The market potential for these products is substantial due to the limited treatment options available for the targeted rare diseases. The global market for HDV treatments is projected to reach $1 billion by 2025.
Costs and Losses
Despite revenue generation, Eiger BioPharmaceuticals has faced significant operational costs leading to losses. The company's total expenses for fiscal year 2022 were approximately $37 million.
Stock Performance
As of October 2023, Eiger's stock price stood at approximately $1.75 per share, reflecting its volatility. The market capitalization of Eiger was reported to be around $55 million.
Funding and Financing Activities
To support its operations and development costs, Eiger has raised funds through equity offerings. In 2022, they completed a public offering that raised approximately $10 million.
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