SBBP - Strongbridge Biopharma Q1 net loss narrows but shares fall premarket

Although Strongbridge Biopharma (SBBP) saw its Q1 net loss narrow by ~7.5% to $11.8M, shares are down 1.7% in premarket trading.For Q1, the rare diseases treatment company beat estimates for EPS but missed on revenue.Sales of neuromuscular drug KEVEYIS (dichlorphenamide) rose 25% year-over-year to $8.4M.Strongbridge reiterated expectations of 2021 KEVEYIS sales of $34M to $36M.Compared to Q1 2020, R&D expenses in the quarter dropped ~24% to $5.8M.The company ended the quarter with $73.9M in cash.Strongbridge said it remains on track for the potential commercial launch of RECORLEV (levoketoconazole) for Cushing's syndrome in Q1 2022.

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Strongbridge Biopharma Q1 net loss narrows, but shares fall premarket