SAN DIEGO, Nov. 3 /PRNewswire-FirstCall/ -- Optimer Pharmaceuticals, Inc. today reported financial results for the third quarter ended September 30, 2009. Optimer reported a net loss for the third quarter of 2009 of $9.4 million, or $0.28 per share, which was in line with the Company’s expectations. This compares to a net loss for the third quarter of 2008 of $9.2 million, or $0.31 per share. Research and development expenses in the third quarter of 2009 were $7.2 million, compared to $7.9 million in the third quarter of 2008. The decrease was primarily due to the completion of the Pruvel(TM)(prulifloxacin) Phase 3 trials. The decrease was partially offset by an increase in expenses to prepare regulatory filings related to fidaxomicin and Pruvel.
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As of September 30, 2009, Optimer held cash, cash equivalents and short-term investments of $42.5 million.
“It’s been another strong quarter for Optimer, marked by significant interaction with the medical community on the Phase 3 data profiling the characteristics and attributes of fidaxomicin and Pruvel,” said Michael N. Chang, Ph.D., Optimer’s President and Chief Executive Officer. “Additional data from the North American Phase 3 fidaxomicin trial were recently presented at the ICAAC and IDSA medical conferences further demonstrating why we believe fidaxomicin has the potential to be the optimal treatment for CDI.”
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About Optimer Pharmaceuticals
Optimer Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing innovative anti-infective products to treat serious infections and address unmet medical needs. Optimer has two late-stage anti-infective product candidates under development. Fidaxomicin, formerly known as OPT-80, is the only antibiotic therapy currently in Phase 3 worldwide clinical development for Clostridium difficile infection. Pruvel(TM) (prulifloxacin) is an antibiotic which has completed two Phase 3 clinical trials for the treatment of infectious diarrhea in travelers. Additional information can be found at http://www.optimerpharma.com.
Forward-looking Statements
Statements included in this press release that are not a description of historical facts are forward-looking statements, including without limitation all statements related to the development of fidaxomicin and Pruvel and their potential efficacy as treatments for their intended indications, the timing and anticipated results of clinical trials and partnership discussions, and plans related to regulatory filings. Words such as “believes,” “anticipates,” “plans,” “expects,” “intend,” “will,” “goal” and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Optimer that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Optimer’s business including, without limitation, risks relating to: the timing, progress and likelihood of success of its product research and development programs, the timing and status of its preclinical and clinical development of potential drugs, uncertainty regarding regulatory requirements for approval, the timing of regulatory submissions and the uncertainty regarding whether such submissions will be accepted or approved, Optimer’s ability to enter into partnerships on favorable terms or at all, and other risks detailed in Optimer’s filings with the Securities and Exchange Commission.
CONTACT: John Prunty, CFO & VP, Finance, or Christina Donaghy, Corporate
Communications Manager, both of Optimer Pharmaceuticals, Inc.,
+1-858-909-0736; or Jason I. Spark, Vice President of Porter Novelli Life
Sciences, +1-619-849-6005, for Optimer Pharmaceuticals, Inc.
Web site: http://www.optimerpharma.com/
