Albireo Pharma (ALBO) Reports Q1 Loss of $0.15, Miss on Revenues

Albireo Pharma (NASDAQ: ALBO) reported Q1 EPS of ($0.15), versus $1.77 reported last year. Revenue for the quarter came in at $11.2 million versus the consensus estimate of $31.32 million.

“The beginning of 2018 has been a landmark period for Albireo,” said Ron Cooper, President and Chief Executive Officer of Albireo. “We achieved a major milestone with enrollment of the first patient in PEDFIC-1, our Phase 3 clinical trial with A4250, an ileal bile acid transporter (IBAT) inhibitor, in progressive familial intrahepatic cholestasis (PFIC). In January, we announced that our licensee received regulatory approval in Japan for the world’s first approved IBAT inhibitor, elobixibat, for the treatment of chronic constipation. This is strong validation of our scientific platform, and it triggered over $55 million in payments to Albireo. In addition, we raised over $94 million in net proceeds from equity financings.”

For earnings history and earnings-related data on Albireo Pharma (ALBO) click here.

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