This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Trius Therapeutics Reports First Quarter 2013 Financial Results

SAN DIEGO, May 7, 2013 (GLOBE NEWSWIRE) -- Trius Therapeutics, Inc. (Nasdaq:TSRX), a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for serious infections, announced today its financial results for the first quarter ended March 31, 2013.

"After successfully completing and reporting positive top-line results for our ESTABLISH 2 study, we are preparing to file our New Drug Application (NDA) for tedizolid later this year and, if approved, to potentially launch in the U.S. in the second half of 2014," said John Schmid, Chief Financial Officer at Trius.

At March 31, 2013, Trius had cash, cash equivalents and investments totaling $83.6 million. As of May 1, 2013, Trius had 47,872,124 shares outstanding.

For the first quarter of 2013, Trius reported a net loss of $17.3 million versus a net loss of $7.6 million in the comparable period in 2012. The increase in the net loss in the first quarter of 2013 was primarily due to lower collaboration revenues from our partnership with Bayer Pharma AG (Bayer) as well as from our federal contracts. In addition, we recognized a $2.0 million non-cash expense during the three months ended March 31, 2013 related to the valuation of our common stock warrant liability versus the non-cash benefit recognized during the comparable period in 2012. As a result, Trius reported a net loss per share of $0.38 for the first quarter of 2013 versus $0.22 in the first quarter of 2012.

Revenues for the three months ended March 31, 2013 were $1.7 million compared to $9.8 million for the same period in 2012. In the first quarter of 2012, the Company earned a $5.0 million milestone payment from Bayer, but received no similar payments in the current year. Federal contract revenues also decreased from the prior year due to reduced funding for our biodefense pathogen research programs.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,690.07 -28.47 -0.16%
S&P 500 2,056.97 -4.08 -0.20%
NASDAQ 4,862.7650 -13.7540 -0.28%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs