Achaogen, Inc. Reports Consolidated Earnings Results for the Three months and Full Year Ended December 31, 2018
March 28, 2019 at 04:19 pm EDT
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Achaogen, Inc. reported consolidated earnings results for the three months and Full Year Ended December 31, 2018. For the month, the company reported total revenues of $2,025,000 compared to $1,869,000 a year ago. Loss from operations was $43,856,000 compared to $42,103,000 a year ago. Net loss was $47,523,000 compared to $36,382,000 a year ago. Basic net loss per share was $1.01 compared to $0.86 a year ago. Diluted net loss per share was $1.01 compared to $0.98 a year ago.
For the full year, the company reported total revenues of $8,728,000 compared to $11,175,000 a year ago. Loss from operations was $189,165,000 compared to $126,326,000 a year ago. Net loss was $186,512,000 compared to $125,618,000 a year ago. Basic net loss per share was $4.11 compared to $3.17 a year ago. Diluted net loss per share was $4.25 compared to $3.17 a year ago.
Achaogen, Inc. is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE). Plazomicin is an intravenous aminoglycoside antibiotic. The Company has developed plazomicin by chemically modifying sisomicin, a naturally occurring aminoglycoside, in order to overcome common aminoglycoside resistance mechanisms. The Company has a portfolio of small molecule and antibody programs. The Company's Early Development programs include C-Scape and LpxC.
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