Alder BioPharmaceuticals, Inc. (ALDR) saw its loss widen to $100.33 million, or $1.99 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $33.36 million, or $0.76 a share.

The company has not recorded any revenues for the current as well as previous quarter.

Operating loss for the quarter was $100.67 million, compared with an operating loss of $33.69 million in the previous year period.

"During the first quarter we remained focused on eptinezumab, our unique and potentially transformative migraine prevention therapy. We are excited about eptinezumab's clinical data to date and believe that data from our PROMISE 1 Phase 3 pivotal clinical trial, which we expect to announce later this quarter, will further validate our deliberate approach to determining the ideal profile and delivery for a CGRP targeted therapy," said Randall C. Schatzman, Ph.D., president and chief executive officer of Alder. "We are increasingly confident that eptinezumab's differentiated delivery and clinical profile, if approved, has the potential to meet a profound need for patients living with chronic and severe frequent episodic migraine and effectively address the U.S. market opportunity for eptinezumab IV, which we estimate to be as high as $2 billion."