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Trius Therapeutics Reports 2012 Fourth Quarter And Full Year 2012 Financial Results

Revenues for the three months ended December 31, 2012 were $5.2 million compared to $5.0 million for the same period in 2011. For the year ended December 31, 2012, revenues were $27.2 million compared to $41.0 million for the same period in 2011. The decrease in revenues during the year ended December 31, 2012 was due to the $25.0 million upfront payment received from Bayer in 2011. Excluding this one-time payment, revenues for the year ended December 31, 2012 increased $11.2 million primarily due to sponsored development activities and milestone payments from our collaboration with Bayer.

Research and development expenses for the three months ended December 31, 2012 were $16.5 million compared to $13.8 million for the same period in 2011. For the year ended December 31, 2012 and 2011, research and development expenses were $69.0 million and $49.5 million, respectively. The increase in research and development expenses was primarily related to higher clinical trial and development costs for tedizolid phosphate.

General and administrative expenses for the three months ended December 31, 2012 increased to $4.7 million compared to $2.8 million for the same period in 2011. For the years ended December 31, 2012 and 2011, general and administrative expenses were $15.4 million and $11.3 million, respectively. The increase in general and administrative expenses was primarily due to an increase in commercial planning activities in 2012.

As of March 1, 2013, Trius had 47,854,151 shares outstanding.

Program Updates & Upcoming Events

In December 2012, Trius completed enrollment of its ESTABLISH 2 study, the second Phase 3 trial in acute bacterial skin and skin structure infections, or ABSSSI. The study remains on track to report top line data near the end of the first quarter in 2013. In 2012 and early 2013, Trius also completed additional clinical trials needed to support its planned New Drug Application (NDA) filing. If the ESTABLISH 2 study endpoints are met, Trius plans to file its NDA during the second half of 2013.

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