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

th quarter of 2012.  General and administrative expense was $2.7 million, a 172% increase compared to the quarter ended March 31, 2012, driven primarily by increased stock compensation expense and professional fees.  

First Quarter and early second quarter 2013 Highlights

  • Filed an S-3 shelf registration statement with the Securities and Exchange Commission
  • Submitted our request for an end-of-phase 2 meeting on solithromycin to the FDA
  • Clinical program updateThe company is primarily focused on the development of its two lead clinical-stage antibiotic candidates, the fluoroketolide, solithromycin, and Taksta™, the oral antibiotic being developed for staphylococcal infections.  The company expects the following events to occur during 2013:

    Solithromycin

  • 2Q13: End of Phase 2 meeting with the FDA
  • 2H13: Initiation of the IV-to-oral Phase 3 clinical trial in CABP, subject to available resources
  • 2Q13: Present the ongoing Phase 2 gonococcus clinical study at ECCMID
  • Taksta

  • 4Q13: Top-line results of the Phase 2 trial in PJI patients
  • Financial GuidanceCempra expects its research and development expense to increase due to the initiation of clinical trials during the fourth quarter of 2012.  The company's cash and equivalents are expected to be sufficient to fund current operations into 2015.  This projection does not include any funds for the initiation of the solithromycin IV-to-oral Phase 3 clinical trial in CABP.

    Conference Call and WebcastThe conference call may be accessed by dialing 877-377-7553 for domestic callers and 253-237-1151 for international callers. Please specify to the operator that you would like to join the "Cempra, Inc., First Quarter 2013 Financial Results Call, conference ID#: 33311244." The conference call will be webcast live under the investor relations section of Cempra's website at www.ce
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    SOURCE Cempra, Inc.
    Copyright©2012 PR Newswire.
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