Albireo Pharma, INC.: directors' dealings · United States · SEC (Form 4)

About Albireo Pharma, INC.

Albireo Pharma, Inc. (ticker: ALBO) was a U.S.-listed biopharmaceutical company that traded on the NASDAQ in the United States. The company focused on rare pediatric liver diseases, with a scientific and commercial strategy built around bile acid modulation and, more specifically, inhibition of the intestinal bile acid transporter (IBAT). Albireo was formed in 2008 through a spin-out from AstraZeneca, based on a portfolio of IBAT inhibitor assets, and its corporate headquarters were in Boston, Massachusetts. That origin and location placed the company squarely in the U.S. biotech ecosystem, close to one of the industry’s most active research and financing hubs. From an operating standpoint, Albireo was essentially a specialist rare-disease developer rather than a diversified pharmaceutical group. Its lead asset was odevixibat, marketed as Bylvay, which became the company’s flagship product in cholestatic rare diseases such as progressive familial intrahepatic cholestasis (PFIC) and Alagille syndrome in certain markets. The commercial logic was straightforward: target severe orphan indications with high unmet medical need, where even modest clinical differentiation can support premium pricing and meaningful medical adoption. However, that model also implied concentration risk, with enterprise value heavily dependent on a narrow asset base, regulatory milestones, label expansions, and launch execution. In competitive terms, Albireo occupied a niche position in the rare pediatric hepatology space. Its differentiation came from being one of the more focused players pursuing IBAT inhibition as a mechanism, rather than competing broadly across hepatology or gastroenterology. The company’s geographic footprint was initially centered in the United States, but like many orphan-drug developers, its commercial opportunity depended on international regulatory approvals and market access beyond the domestic market. For investors, the key question was always whether the company could convert clinical promise into sustainable global revenues across a limited number of ultra-rare diseases. A major recent development was Albireo’s acquisition by BioMarin, which removed ALBO as an independent public equity story. That transaction is important context for any analysis of historical SEC Form 4 insider activity, because filings may still appear in the record even though the company’s standalone market status has changed. In other words, Albireo should be viewed today primarily as a legacy biotech asset and a case study in rare-disease M&A. For French, Belgian, and Swiss investors, ALBO is representative of a classic U.S. small-cap biotech profile: science-driven growth potential, heavy regulatory dependence, limited product diversification, and strategic value enhanced by acquisition interest in the rare-disease sector.