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Cempra, Inc. Reports First Quarter 2013 Financial and Operating Results
Date:4/25/2013

CHAPEL HILL, N.C., April 25, 2013 /PRNewswire/ -- Cempra, Inc. (Nasdaq: CEMP), a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases, today reported financial results for the first quarter ended March 31, 2013. The company will host a conference call and webcast at 4:30 p.m. EDT, today.

"The first quarter of 2013 was an important one for Cempra as we continued our oral solithromycin Phase 3 clinical trial in patients with community-acquired bacterial pneumonia and our Taksta Phase 2 trial in patients with prosthetic joint infections," said Prabhavathi Fernandes , Ph.D., chief executive officer of Cempra.  "Looking ahead, we continue to prepare to initiate the solithromycin intravenous-to-oral Phase 3 trial in community-acquired bacterial pneumonia, or CABP, pending available resources, and to plan meetings with the FDA on the solithromycin IV-to-oral Phase 3 trial in the second quarter and the Taksta prosthetic joint infection program later this year."

Financial ResultsQuarter ended March 31, 2013 compared to quarter ended March 31, 2012For the quarter ended March 31, 2013, Cempra reported a net loss of $10.3 million, or $0.42 per share, compared to a net loss of $3.5 million, or $0.26 per share, for the same period in 2012. 

Research and development expense in the quarter ended March 31, 2013, was $7.4 million, an increase of 293% compared to the same quarter in 2012. The higher R&D expense was primarily due to the initiation of the oral solithromycin Phase 3 clinical trial in patients with community-acquired bacterial pnuemonia and the initiation of the Taksta™ Phase 2 clinical trial in patients with prosthetic joint infections; both of which were initiated during the four
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