Last week, Strongbridge Biopharma plc (NASDAQ: SBBP) price decreased by -2.22%. The stock price over the past three months has declined by -23.08%. Within the past six months, the stock has lost -23.08%, and over the past year, it has lost -9.47%.
In a statement released on Sept. 8, 2021, Strongbridge Biopharma plc (NASDAQ: SBBP) announced that its shareholders voted to approve Xeris Pharmaceutical’s (NASDAQ: XERS) proposed acquisition of Strongbridge. The transaction was supported by at least 99 percent of votes cast at both a special court-ordered meeting of shareholders as well an extraordinary general meeting of shareholders, representing (in each case) approximately 67 percent of the outstanding shares eligible to vote at the Strongbridge shareholder’s meetings on September 8, 2021, in Pennsylvania, United States. As part of the transaction, the businesses of Xeris and Strongbridge will become a single entity called Xeris Biopharma Holdings, Inc. (“Xeris Biopharma Holdings” or “HoldCo”).
About the Company
As a global biopharmaceutical company focused on developing and commercializing therapies for rare diseases, Strongbridge Biopharma plc is in the commercial stage of development. One of Strongbridge’s rare endocrine therapies is RECORLEV® (levoketoconazole), currently under review by the FDA for endogenous Cushing’s syndrome treatment and veldoreotide extended-release, a pre-clinical somatostatin analog being investigated to treat acromegaly and for other conditions that could be affected by somatostatin receptor activation.