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

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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    SOURCE Optimer Pharmaceuticals, Inc.
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