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Optimer Reports First Quarter 2013 Financial Results
Date:5/9/2013

as $34.0 million and $25.5 million, respectively, an increase of $8.5 million. The increase primarily was due to higher legal, professional and outside service expenses. We also recognized higher stock compensation expense, primarily related to previously announced management departures.

Co-promotion expenses with Cubist for the quarters ended March 31, 2013 and 2012 were $3.8 million and $10.1 million, respectively, a decrease of $6.3 million. The co-promotion expenses for the quarter ended March 31, 2012 included an accrual of the first-year sales target bonus and an accrual of the first-year gross profit on sales above the sales target.

Net loss for the first quarter of 2013 was $31.3 million, or $0.65 cents per share, on a basic and diluted basis, as compared to net loss for the first quarter of 2012 of $10.9 million, or $0.23 cents per share, on a basic and diluted basis. The net loss in the year-ago quarter was favorably impacted by a $23.8 million gain on the deconsolidation of OBI.

At March 31, 2013, Optimer held cash, cash equivalents and short-term investments of $93.3 million. 

Optimer had 48.0 million shares outstanding on March 31, 2013.

"As we maintain our focus and commitment to establishing DIFICID as an important first-line treatment option for patients, we are similarly focused on conducting our review of strategic alternatives so that we can optimize value for our stockholders," continued Dr. McKinnell.

Conference Call and Webcast
The Company will host a conference call and webcast to discuss its first quarter 2013 financial results and provide a corporate update today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). The conference call may be accessed by dialing (877) 280-7280 for domestic callers and +1 (678) 825-8232 for international callers.  Please specify to the operator that you would like to join "Optimer's Financial Results Call." 
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SOURCE Optimer Pharmaceuticals, Inc.
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