Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) Stock On Radar After Q4 Earnings Update

Commercial stage biopharmaceutical company Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) is currently involved in the development of novel therapies meant for hepatitis delta virus and other similarly serious diseases. Yesterday, the company came into focus after it announced its financial results for the fourth fiscal quarter and the fiscal year, both of which ended on December 31, 2022.

Trading Data

On Thursday, EIGR stock decreased 0.85% to $1.1700 with more than 268.77K shares, compared to volume of 785.65K shares. The stock moved within a range of $1.1600 – 1.2250 after opening trade at $1.1800.

Eiger BioPharmaceuticals Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update

It could be a good move for investors to consider taking a look at some of the highlights from the financial results. The company managed to generate revenues of $2.7 million and $13.5 million in the fourth quarter and the full year respectively. In the prior year periods, it had generated revenues of $3.4 million in the fourth quarter and $12.1 million in the fiscal year.

The higher revenues that had been generated by the company in the full fiscal year had been mainly driven by the upfront payments received by Eiger for its product AnGes Inc. That was in line with the marketing and distribution agreement signed by the company back in May last yaer. The cost of sales came in at $0.8 million and $1.8 million respectively in the fourth quarter and the full fiscal year respectively.