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Optimer Pharmaceuticals Reports Second Quarter 2011 Financial Results
Date:8/4/2011

SAN DIEGO, Aug. 4, 2011 /PRNewswire/ -- Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) today announced its financial results for the quarter ended June 30, 2011.

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Optimer reported net loss for the second quarter of 2011 of $24.2 million, or ($0.52) per share on both a basic and diluted basis, as compared to a net loss for the second quarter of 2010 of $10.1 million, or ($0.26) per share on both a basic and diluted basis.  The increase in net loss was primarily due to increases in marketing, research and development, and general and administrative expenses related to the U.S. approval and third quarter launch of DIFICID™.

Marketing expenses for the second quarter of 2011 increased $6.3 million compared to the second quarter of 2010 due to Optimer's efforts to establish a commercial infrastructure and prepare for the launch of DIFICID, including the hiring of approximately 100 marketing and sales staff.  General and administrative expenses increased $3.8 million compared to the second quarter of 2010, primarily because of higher compensation expense due to additional headcount as well as higher recruitment, consulting, facilities and legal expenses.  Research and development expenses increased $4.2 million compared to the second quarter of 2010 due to higher health economics research, pharmacovigilance, medical affairs  and publication expenses, as well as higher research and development expenses by OBI associated with the OPT-822 Phase 2/3 trial in breast cancer.

As of June 30, 2011, Optimer held cash, cash equivalents and short-term investments of $157.8 million and had 46,602,501 shares outstanding.

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SOURCE Optimer Pharmaceuticals, Inc.
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