This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Trius Therapeutics Reports 2010 Third Quarter Results

SAN DIEGO, Nov. 11, 2010 (GLOBE NEWSWIRE) -- Trius Therapeutics, Inc. (Nasdaq:TSRX), a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for serious, life-threatening infections, announced today its financial results for the third quarter ended September 30, 2010.

Revenues for the three months ended September 30, 2010 increased to $1.9 million compared to $1.7 million for the same period in 2009. For the nine months ended September 30, 2010, revenues were $5.5 million compared to $4.0 million for the same period in 2009.  The increase in revenues during the three and nine months ended September 30, 2010 was largely a result of the award of the company's second federal research contract, a $29.5 million, four and a half-year contract from the Defense Threat Reduction Agency (DTRA). Trius' first federal contract was a $27.7 million, five-year contract from the National Institutes for Allergy and Infectious Disease (NIAID), part of the National Institutes of Health (NIH).

Total operating expenses for the three months ended September 30, 2010 were $7.3 million compared to $5.2 million for the same period in 2009.  This increase was primarily the result of higher clinical trial expenses during the period. For the nine months ended September 30, 2010, total operating expenses were $17.2 million compared to $19.4 million for the same period in 2009. This decrease was primarily due to the clinical drug supply manufacturing costs incurred in 2009 as Trius prepared for initiation of its Phase 3 clinical trials of torezolid phosphate for which the first patient was dosed in August 2010.

Trius ended the third quarter of 2010 with cash and cash equivalents totaling $54.4 million.  As of November 10, 2010, Trius had 23,584,417 shares outstanding.

"In the brief time since our IPO, we have made substantial progress on the development program for our investigational drug, torezolid phosphate. We initiated our Phase 3 program for ABSSSI, and expanded our already strong patent estate," said Jeffrey Stein, Ph.D., President and Chief Executive Officer of Trius. "In addition, we are on track with the planned initiation of our Phase 1 lung study by the end of this year."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs