Profile Technologies (PRTK) Reports Q1 Loss of $0.74/Share

Profile Technologies (NASDAQ: PRTK) reported Q1 EPS of ($0.74), versus ($20.93) reported last year.

At March 31, 2015, Paratek had cash and cash equivalents of $92.5 million. The subsequently completed underwritten offering of 3,089,000 shares of common stock at a public offering price of $24.50 per share on May 5, 2015 yielded $70.7 million in aggregate proceeds, after underwriting discounts and commissions and other estimated offering expenses. The net proceeds from this offering, together with existing cash, will fund ongoing and planned clinical trials of omadacycline, research and development to advance preclinical candidates, and for working capital and other general corporate purposes.

Based on current assumptions, the company's cash and cash equivalents are expected to fund operations through mid-2017, expected to coincide with the availability of top-line data from the second of two planned Phase 3 trials of omadacycline (CABP).

For earnings history and earnings-related data on Profile Technologies (PRTK) click here.

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