Alder Biopharmaceuticals reports Q2 EPS ($1.04), consensus ($1.05)
"During the second quarter, the new data we presented from our Phase 3 clinical trials in episodic and chronic migraine further highlighted eptinezumab's encouraging clinical profile for migraine prevention, including increased efficacy following additional quarterly infusions. Alder is focused on changing the treatment paradigm for the millions of patients living with the disabling effects of migraine and we remain on track to submit a high-quality BLA to the U.S. Food and Drug Administration in the first quarter of 2019," said CEO Robert Azelby. As of June 30, 2018, Alder had $536.1M in cash, cash equivalents, investments and restricted cash compared to $587.0M as of March 31, 2018. Alder believes its available cash, cash equivalents, short-term investments and restricted cash will be sufficient to meet the company's projected operating requirements into 2020.