Nabriva Therapeutics (NBRV) stock is surging in the pre-market on Wednesday, March 17, 2021. It has gained 17.19% as of this writing. The stock went down 8.57% on Tuesday, March 16, 2021.
Latest Development
On March 16, 2021,Nabriva Therapeutics announced its results from a post-hoc analysis of clinical data from the pivotal Lefamulin Evaluation Against Pneumonia (LEAP) 2 Phase 3 clinical trial has been published in The Journal of Emergency Medicine
The trial results revealed that the patients avoided hospitalization by taking XENLETA for 5 days. XENLETA was demonstrated in patients with moderate to severe community-acquired bacterial pneumonia (CABP). XENTLETA was approved by the FDA in August 2019 and the first IV and oral antibiotic with a novel mechanism of action approved by the FDA in nearly two decades.
Recent Financial results
On March 12, 2021, NBRV announced its financial results for the fourth quarter and the year ended December 31, 2020.
Q4 Financial Highlights
- NBRV revenue for the reported quarter was $2.5 million.
- Research and development expenses were $2.8 million
- Selling, general and administrative expense were $17.5 million
Full-year Financial Highlights
- NBRV revenue for the full-year 2020 was $5.0 million.
- Research and development expenses were $15.1 million for the full year.
- Selling, general and administrative expense were $55.3 million.
- Nabriva had $41.4 million in cash and cash equivalents as of December 31 2020.
NBRV Corporate Updates
- On March 10, 2021, Steven Gelone, Pharm D, was selected by Nabriva’s Board as a new member to the board effective immediately.
- On February 26, 2021, Daniel Dolan was appointed as Chief Financial Officer, he started working as CFO on March 13.
NBRV Business Updates
On March 1, 2021, Nabriva signed an agreement with investors for the purchase and sale of ordinary sharesfor aggregate net proceeds of $23.4 million.
About NBRV
Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. The company was founded in 2005 and is based in Ireland.
The NBRV latest product XENLETAreceived U.S. Food and Drug Administration approval to treat CABP. The company is also working on also developing CONTEPO to treat urinary tract infections (cUTI), including acute pyelonephritis.
