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Cempra, Inc. Reports Second Quarter 2012 Financial and Operating Results
Date:8/8/2012

CHAPEL HILL, N.C., Aug. 8, 2012 /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 second quarter ended June 30, 2012. The company will host a conference call and webcast at 4:30 p.m. EDT, today.

"We continued to make progress in our clinical programs during the second quarter," said Prabhavathi Fernandes, Ph.D., chief executive officer of Cempra.  "We received comments on our proposed clinical design of the oral Phase 3 trial of solithromycin for community-acquired bacterial pneumonia from the Food and Drug Administration (FDA) and we plan to initiate our Phase 3 CABP oral study in 2012.  Based on their comments, we expect the trial to start in the fourth quarter of 2012. We had initiated our Phase 2 trial of solithromycin for the treatment of gonococcal infections in early June and we plan to report on the results of this study in the fourth quarter of 2012.  Finally, we plan to initiate the prosthetic joint infection Phase 2 trial in 2012 in which oral Taksta will be used for chronic administration."

Financial ResultsQuarter ended June 30, 2012 compared to quarter ended June 30, 2011For the quarter ended June 30, 2012, Cempra reported a net loss of $9.5 million, or $0.45 per share, compared to a net loss of $6.1 million, or $11.65 per share, for the comparable period in the quarter ended June 30, 2011. 

Research and development expense was $7.4 million, an increase of 70% compared to the quarter ended June 30, 2011. The higher R&D expense was due to increased clinical activities related to solithromycin as well as milestone and licensing payments under our licensing agreements related to solithromycin. General & Administrative ex
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SOURCE Cempra, Inc.
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