Achaogen, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 08, 2018 at 08:01 am EST
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Achaogen, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total revenues of $1,998,000 compared to $577,000 a year ago. Loss from operations was $46,626,000 compared to $36,544,000 a year ago. Net loss was $41,791,000 compared to $29,907,000 a year ago. Diluted net loss per share was $1.02 compared to $0.85 a year ago.
For the nine months, the company reported total revenues of $6,703,000 compared to $9,306,000 a year ago. Loss from operations was $145,308,000 compared to $84,222,000 a year ago. Net loss was $138,990,000 compared to $89,235,000 a year ago. Diluted net loss per share was $3.21 compared to $2.31 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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