CHMA - Chiasma on track to submit European application for acromegaly med this year

Chiasma (CHMA) says that it is on track to file European marketing approval for Mycapssa (octreotide) in mid-2021, which was approved by the FDA in June last year.For U.S interim Mycapssa net revenues for 2020 are expected to be between $0.9M - $1.1M.Reported positive data OPTIMAL Open Label Extension for Mycapssa, where efficacy and safety seen in the 1-year extension phase of the study (48 weeks) was similar to that seen in the 36-week core study period.Chiasma ended the year with ~$135M in cash, cash equivalents and marketable securities, which is expected to fund its operations as currently planned through at least the end of 2021.Citing U.S. commercial plans, operating expense for the full year 2021 is expected to be in a range of $80M-$90M.

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Chiasma on track to submit European application for acromegaly med, this year