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Optimer Reports Second Quarter 2013 Financial Results
Date:8/1/2013

JERSEY CITY, N.J., Aug. 1, 2013 /PRNewswire/ -- Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) announced today unaudited financial results for the second quarter ended June 30, 2013.  

(Logo: http://photos.prnewswire.com/prnh/20090413/LA97352LOGO)

Financial Highlights

  • Second quarter 2013 DIFICID net product sales in the U.S. and Canada of $19.0 million, compared to $15.2 million in the corresponding quarter in 2012, and up 13% from $16.8 million in the first quarter
  • Second quarter 2013 total net revenues of $20.1 million
  • Cash, cash equivalents and short-term investments at June 30, 2013 totaled $77.5 million
  • 2013 net loss for the second quarter was $26.9 million, or $0.55 per share
  • Financial Overview
    Total net revenues for the quarters ended June 30, 2013 and 2012 were $20.1 million and $49.8 million, respectively, a decrease of $29.7 million.  The year-ago period included $32.4 million in up-front and milestone payments under our collaboration and license agreements with Astellas Japan and Astellas Pharma Europe.

    DIFICID net product sales for the quarters ended June 30, 2013 and 2012 were $19.0 million and $15.2 million, respectively, an increase of $3.8 million, or 25%.  The increase was due to an increase in the number of customers ordering DIFICID and increased sales to existing DIFICID customers, as well as the impact of a price increase. We recognize product sales of DIFICID upon delivery of product to our wholesalers.

    Contract revenues for the quarters ended June 30, 2013 and 2012 were $1.1 million and $34.5 million.  Contract revenue in the quarter ended June 30, 2013 was related to product shipments to our collaborative partners and royalties from Astellas Pharma Europe.
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    SOURCE Optimer Pharmaceuticals, Inc.
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