Strongbridge Biopharma plc announced that it is eliminating approximately 15 positions through a reduction in headcount across the organization. This reduction is in addition to the previously announced elimination of all commercial costs related to MACRILEN™ (macimorelin), including the approximately 23 Strongbridge field-based positions related to the MACRILEN sales efforts, effective December 1, 2019. Collectively, the total reduction of overall employee headcount is approximately 38 positions, or 34%. Strongbridge intends to optimize its resources for completing the development of RECORLEV™ (levoketoconazole) and continuing to grow KEVEYIS® (dichlorphenamide), and expects to realize an estimated annualized cost savings of approximately $4.2 million beginning in 2020 based upon the elimination of these 15 positions. The Company estimates that it will incur approximately $1.4 million for severance and other costs related to this action.

Strongbridge also announced the appointment of Garheng Kong, M.D., Ph.D., to Lead Independent Director of the Company's Board of Directors. Dr. Kong is founder and managing partner of HealthQuest Capital and has served as a member of Strongbridge's board of directors since September 2015. He brings more than 20 years of clinical, technical, and business experience in the healthcare industry, and currently serves on the board of directors of Alimera Sciences; Avedro Inc.; and Laboratory Corporation of America. He previously served as a general partner at Sofinnova Ventures and Intersouth Partners.