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Optimer Pharmaceuticals Reports Third Quarter 2009 Financial Results
Date:11/3/2009

SAN DIEGO, Nov. 3 /PRNewswire-FirstCall/ -- Optimer Pharmaceuticals, Inc. (Nasdaq: OPTR) 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."

Corporate Updates

  • Following discussions with the FDA, Optimer has elevated global cure to a secondary endpoint from an exploratory endpoint in the second Phase 3 fidaxomicin trial. Given the
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SOURCE Optimer Pharmaceuticals, Inc.
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