ALBO - Albireo stock plunges on disappointing Q1 result

Albireo Pharma (NASDAQ:ALBO -19.9%) stock plunged on Tuesday after the company posted lower-than-expected quarterly revenue and wider-than-expected loss, hurt by fall in demand for skin treatment, Bylvay. Quarterly revenue rose 248.5% Y/Y to $6.83M, but missed analysts estimate by $0.42M. Product revenue was $4.7M. Royalty revenue was $2.2M, compared with $2M, a year earlier. Net loss for the quarter was $42.4M, or $2.19 per share (missed analysts estimate by $0.39), compared to loss of $43.7M, or $2.29 per share, a year earlier. The Company had cash of $216.7M as of March 31. Transcript

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Albireo stock plunges on disappointing Q1 result