significant problem with recurrence in CDI patients, Optimer believes that the medical community is placing greater emphasis on global cure, defined as a cure without a recurrence. The global cure rate of fidaxomicin versus vancomycin was 77.7% versus 67.1% (p=0.006) in Optimer's North American Phase 3 trial.
Optimer expects to complete enrollment of the second Phase 3 trial of fidaxomicin in 2009, and anticipates reporting top-line data in the first quarter of 2010. The Company continues to engage in partnering discussions regarding fidaxomicin to maximize its value.Optimer recently entered into a number of transactions involving OBI, the Company's Taiwan subsidiary, to provide OBI with funding for the development of two of Optimer's early-stage, non-core programs, OPT-88 and OPT-822/821, and to allow Optimer to focus on its late-stage anti-infective programs, fidaxomicin and Pruvel. Pursuant to these transactions, Optimer assigned to OBI certain patent rights, information and know-how related to OPT-88, a preclinical product candidate for the treatment of osteoarthritis, and OPT-822/821, a carbohydrate-based cancer immunotherapy product candidate. Optimer is eligible to receive up to $10 million in milestone payments and single-digit royalties on net sales for any product developed and commercialized under the programs. To provide capital for OBI's development of OPT-88 and OPT-822/821, Optimer and a group of new investors purchased approximately $3.7 million and $2.5 million, respectively, in new OBI common shares. Also in connection with the transactions, Optimer sold forty percent of its pre-transaction OBI common shares to the new investors for proceeds of $2.1 million. Optimer maintains a sixty percent ownership interest in OBI following the completion of these transactions.
Recent Corporate Highlights
- Three fidaxomicin-related abstracts from Optimer's North American Phase 3 study in patients w
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Optimer Pharmaceuticals to Present at September 2009 Investor Conferences2.
Optimer Pharmaceuticals Announces Presentations of Additional Phase 3 Fidaxomicin and Prulifloxacin Data at Upcoming ICAAC Annual Meeting3.
Optimer Pharmaceuticals Reports Second Quarter 2009 Financial Results4.
Optimer Pharmaceuticals to Present at the Canaccord Adams 29th Annual Global Growth Conference5.
Optimer Pharmaceuticals to Present at June 2009 Investor Conferences6.
Optimer Pharmaceuticals Announces Lower Recurrence Rates for Fidaxomicin Versus Vancocin(R) in Subgroup Analyses from Its Phase 3 Study for the Treatment of CDI7.
Optimer Pharmaceuticals Reports First Quarter 2009 Financial Results8.
ISTA Pharmaceuticals Reports Third Quarter 2009 Financial Results9.
Poniard Pharmaceuticals Reports Third Quarter 2009 Financial Results and Provides a Corporate Update10.
OncoGenex Pharmaceuticals to Release Third Quarter 2009 Financial Results11.
Cadence Pharmaceuticals to Host Conference Call and Webcast to Discuss Third Quarter 2009 Financial Results on November 5, 2009