The South San Francisco, CA-based biopharmaceutical firm develops treatments for migraine. Lead candidate is STS101, a drug-device combo of a proprietary dry powder formulation of dihydroergotamine mesylate (DHE) that is self-administered via a pre-filled, single-use nasal delivery device.
DHE acts as a vasoconstrictor (narrows the blood vessels in the brain) which is correlated with the relief of migraine headache. Bausch Health Companies (NYSE:BHC) currently markets a nasal spray formulation under the brand name Migranal. Q2 sales were $13M.
2019 Financials (6 mo.): Operating Expenses: $9.1M (+168%); Net Loss: ($9.1M) (-167%); Cash Burn: ($11.1M) (-184%).
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