Cempra Antibiotic Hits Pneumonia Goals; $100M Stock Sale Planned
Summary
Cempra Antibiotic Hits Pneumonia Goals; $100M Stock Sale Planned Xconomy Raleigh-Durham — With positive late-stage clinical trial data for its lead drug now in hand, Cempra (NASDAQ: CEMP) is preparing a $100 million stock offering to finance further work on the antibiotic, which some observers say has blockbuster potential.But we are very focused on getting the IV study done, getting the NDA done, and as you know, [Chief Commercial Officer] David Moore is getting all the pre-commercial activities … launched.” Meanwhile, Cempra reported initial clinical Phase 3 trial results showing that solithromycin was statistically “non-inferior” compared to Bayer’s (XETRA: BAYN) antibiotic moxifloxacin (Avelox) as a treatment for community-acquired bacterial pneumonia.Cempra says in its filings it will use proceeds from the offering to fund R&D, including the clinical trial and regulatory work for its lead antibiotic, as well as other compounds in its pipeline.Not only is Cempra developing intravenous and pill versions of the antibiotic, which could be used in inpatient and outpatient settings, respectively, it is also creating a liquid form of the drug for children.“Given that the rates of pneumonia are generally much higher in the winter months, we expect to be learning a lot about our enrollment trajectory in the coming weeks,” she says.