Ritter Pharmaceuticals (RTTR) Reports Q3 Loss of $0.40/Share

Ritter Pharmaceuticals (NASDAQ: RTTR) reported Q3 EPS of ($0.40), versus ($0.92) reported last year.

"Following our successful initial public offering in June, we have been working diligently to execute our business strategy and prepare for our upcoming Phase 2b/3 clinical trial of RP-G28, the potentially first FDA-approved therapy for lactose intolerance, in early 2016. We are pleased to say that we have made significant progress with these efforts, efficiently utilizing our capital resources to accomplish the objectives we have in place,” said Michael D. Step, Chief Executive Officer. “Importantly, we have expanded our leadership team with the appointment of Dr. William Sandborn to our Medical Advisory Board. Dr. Sandborn is considered one of the country’s leading experts for gastrointestinal disease and was previously head of the Mayo Clinic. He will be a tremendous asset as we work through the development of RP-G28. Internally, we added Dr. AnnKatrin Petersen-Jappelli to the management team as our Chief Medical Officer. She will be integral to our success as we move forward with our upcoming clinical trial and work to enhance the Company’s portfolio of products.”

Andrew Ritter, President of Ritter Pharmaceuticals, commented, “We are extremely excited about the potential for our lead product candidate in the treatment of lactose intolerance. Most of the current treatment options consist of supplements and adherence to strict diets that avoid dairy, which can be a burden on the daily lives of patients. We believe that RP-G28 can provide an improved quality of life and meet a significant need in this market given the results that have been demonstrated to date with our 30-day treatment regimen. The market for moderate to severe lactose intolerant patients in the US is approximately $1.2 billion, which provides a very sizeable opportunity for Ritter Pharmaceuticals and we look forward to providing these patients with an improved treatment option.”

For earnings history and earnings-related data on Ritter Pharmaceuticals (RTTR) click here.

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