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Nabriva Therapeutics plc (NASDAQ:NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced it has pivoted its strategic focus towards commercialization efforts, primarily focused on SIVEXTRO, to extend its cash runway, while exploring strategic options. Nabriva also issued financial results for the three months ended September 30, 2022.
"Given the pressures of the macro environment, we believe building on our commercial success with SIVEXTRO, as demonstrated by the continued prescription demand growth, is the most efficient and effective way to extend our cash runway and preserve optionality and value for our shareholders," said Ted Schroeder, Nabriva's CEO.
Mr. Schroeder continued, "Aligned with the shift in our strategic focus, we have suspended early-stage research and development activities and reduced global headcount by approximately 40% as part of the broader initiative to extend our cash runway and maximize the value of the products in our portfolio. As such, we have engaged Torreya Capital to help us explore strategic options."
Torreya Capital will advise Nabriva on its exploration of a range of strategic options, which could include the potential in-licensing or out-licensing of commercial stage assets. This process may not result in any transaction, and the Company does not intend to disclose additional details unless and until it has entered into a specific transaction.
Posted In: NBRV
