Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) moved with change of -8.21% to $8.95 with the total traded volume of 56056 shares in recent session versus to an average volume of 151.31K. The stock was up in the 5 days activity 4.84%. The one month performance of stock was high 9.55%. EIGR shares are -17.72% for the quarter and driving a -17.02% over the course of the past year and is now -30.11% since this point in 2018. Right now EIGR beta is 1.67. The average volatility for the week and month was at 4.72% 5.06% respectively.
Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) today reported financial results for the three months and year ended December 31, 2017.
Fourth Quarter and Full Year 2017 Financial Results
Net loss for the fourth quarter of 2017 was $10.9 million, or $1.11 per share basic and diluted, compared to a net loss of $12.8 million, or $1.53 per share basic and diluted for the fourth quarter of 2016. Net losses were $42.4 million and $47.1 million for the years ended December 31, 2017 and 2016, respectively, or $4.86 and $7.84 per share basic and diluted, respectively.
Research and development expenses for the fourth quarter of 2017 were $7.8 million compared to $9.4 million for the fourth quarter of 2016, a decrease of $1.6 million. The decrease was primarily due to a $0.9 million reduction in clinical and drug supply expenditures and a $0.8 million reduction headcount related costs. R&D expenses were $29.5 million and $33.0 million for the years ended December 31, 2017 and December 31, 2016, respectively.
General and administrative expenses for the fourth quarter of 2017 were $2.8 million compared to $3.5 million for the fourth quarter of 2016, a decrease of $0.7 million. The decrease was primarily due a $0.4 million decrease in stock-based compensation expense. G&A expenses for the years ended December 31, 2017 and December 31, 2016 were $12.0 million and $13.1 million, respectively.
As of December 31, 2017, Eiger had cash, cash equivalents and short-term marketable securities of $41.8 million, compared to $59.9 million at December 31, 2016. On October 31, 2017, Eiger announced the closing of its underwritten public offering of 2,132,961 shares of its common stock that included the exercise in full of the underwriter’s option to purchase up to 278,212 shares, at a price of $10.00 per share. The offering was made under Eiger’s effective shelf registration statement and resulted in net proceeds to the company of approximately $19.8 million, after deducting underwriting discounts and commissions and estimated offering expenses.
David Cory, President and CEO said “We met with the FDA in February to discuss development plans for our lead program in HDV. The meeting was very positive and the Agency agreed that our HDV program can advance forward into Phase 3 development with a single, registration trial. We expect to receive written minutes from the Agency shortly and plan to communicate further details on our development plans during the second quarter of 2018”. “In addition, we expect to report Phase 2 results from all three pipeline programs in the second half of 2018.”
Shares of Eiger BioPharmaceuticals, Inc. have been recently spotted trading -44.75% off of the 52-week high price. On the other end, company shares have been noted 46.72% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 6.10 – 16.20. Switching over to some distances from popular moving averages, we see that the stock has been recorded -11.96% away from the 50 day moving average and -9.38% away from the 200 day moving average. Moving closer, we can see that shares have been trading -0.32% off of the 20-day moving average.