• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

SteadyMed still steady on Q2

August 14, 2015 By Fink Densford

SteadyMed still steady on Q2

SteadyMed Therapeutics (NASDAQ:STDY) yesterday released quarterly earnings that missed expectations and reported growing losses, but shares stayed steady.

SteadyMed is a developer of hypertension and pain treatments given with a discrete, patented drug-delivery device called the PatchPump. The company is focusing on development and approval of Treyvant, a drug to treat pulmonary arterial hypertension.

SteadyMed reported losses of 6.9 million, or 51¢ per share, paring losses compared to last year by over 30%.

In addition, research and development costs rose from $3.1 million to $5.4 million, with SteadyMed saying the rise was mostly due to the development of Treyvent.

Losses per share missed analyst expectations by 7¢, with analysts expectations putting it in at 44¢. Shares didn’t move budge in response to the news, only rising 1¢.

“I am pleased by the progress SteadyMed has made so far in 2015 and I am very optimistic about our future as we continue to execute our strategic plan. With regards to our lead drug product candidate Trevyent, for the treatment of pulmonary arterial hypertension, or PAH, we have made significant advancements and have also entered into an exclusive license and supply agreement with Cardiome Pharma Corp. for Europe, Canada and the Middle East. In addition, we have completed our 2-year program of human factors studies, which has validated the usability of Trevyent in the intended patient population. Many years of research and development are now coming to fruition and despite the recent need to implement some modifications relating to scale-up, we are now preparing to manufacture Trevyent, prior to the submission of our NDA,” CEO Jonathan Rigby said in a press release.

Steadymed launched its IPO in March, aiming for $55 million but falling short and raising only around $40 million, selling 4.7 million shares at $8.50 each.

Filed Under: Business/Financial News, Drug-Device Combinations Tagged With: SteadyMed Therapeutics

IN CASE YOU MISSED IT

  • Glucotrack to effect a reverse stock split
  • Medtronic unveils ‘MiniMed’ as name for soon-to-be separated Diabetes unit
  • Insulet, Marvel collab to unveil comic book hero with type 1 diabetes
  • Insulet rolls out new Omnipod 5 iPhone app for use with Dexcom G7
  • Tandem, Abbott strike deal to pair insulin pumps with glucose-ketone monitor

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS