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Omthera Pharmaceuticals Announces First Quarter 2013 Financial Results
Date:5/28/2013

ared to $1.1 million for the first quarter of 2012. The amounts for the first quarter of 2013 and 2012 include approximately $0.1 million and $0.1 million of non-cash stock-based compensation expense, respectively. The increase in General & Administrative expenses is largely attributable to legal and consulting costs required for intellectual property filings.
  • As of March 31, 2013, cash and cash equivalents were $14.4 million. This amount does not include the approximate $58 million in net proceeds from the IPO, which closed in April 2013, nor any of the $12.5 million debt facility, which remains undrawn.
  • About Omthera Pharmaceuticals, Inc.Omthera Pharmaceuticals, Inc. is an emerging specialty pharmaceutical company focused on the development and commercialization of new therapies for dyslipidemia and the treatment of cardiovascular disease. Epanova, currently the Company's sole product candidate, is a late-stage, novel, omega-3 free fatty acid composition that meaningfully reduces triglycerides, improves other key lipid parameters and is expected to increase patient convenience with 2-gram once-a-day dosing with or without meals. Epanova is a coated soft gelatin capsule containing a complex mixture of polyunsaturated free fatty acids derived from fish oils, including multiple long-chain omega-3 and omega-6 fatty acids, with EPA, DHA, and docosapentaenoic acid being the most abundant forms of omega-3 fatty acids. The Company has completed pharmacokinetic and Phase III clinical studies to investigate the safety and efficacy profile of Epanova. In 2012 the Company reported positive results from its Phase III EVOLVE and ESPRIT trials, both of which were conducted under SPA agreements with the U.S. Food and Drug Administration. Omthera holds worldwide rights to Epanova under a license from Chrysalis Pharma AG, a privately held Swiss company that is the owner of the product.

    Forward-Looking Statements:This press release includes forward-look
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    SOURCE Omthera Pharmaceuticals, Inc.
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