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Last $41.86 USD
Change Today +0.54 / 1.31%
Volume 859.1K
CEMP On Other Exchanges
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As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

cempra inc (CEMP) Key Developments

Cempra, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Cempra, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net loss attributable to common shareholders of $25.0 million, or $0.57 per basic and diluted share, compared to a net loss of $16.4 million, or $0.49 per basic and diluted share, for the same period in 2014. Loss from operations was $24.353 million against $15.906 million a year ago. For the six months, the company reported net loss attributable to common shareholders of $42.4 million, or $0.98 per basic and diluted share, compared to a net loss of $33.4 million, or $1.01 per basic and diluted share, for the six months ended June 30, 2014. Loss from operations was $41.158 million against $32.397 million a year ago.

Cempra, Inc. to Report Q2, 2015 Results on Jul 29, 2015

Cempra, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 29, 2015

Cempra, Inc., Q2 2015 Earnings Call, Jul 29, 2015

Cempra, Inc., Q2 2015 Earnings Call, Jul 29, 2015

Cempra, Inc. Enters into Loan and Security Agreement with Comerica Bank

On July 10, 2015, Cempra, Inc. entered into a Loan and Security agreement with Comerica Bank. The company immediately used proceeds from the Loan and Security agreement to terminate and pay off all of the approximately $17.7 million in principal and accrued interest under the loan and security agreement by and among and Hercules Technology Growth Capital, Inc., dated as of December 20, 2011, as amended. The loan and security agreement provides that the company may borrow up to $20.0 million in a term loan and, upon FDA approval of the planned New Drug Application, or NDA, for solithromycin, the company may also borrow an aggregate amount equal to the lesser of up to 75% of the eligible inventory and 80% of eligible accounts receivable or $10.0 million (the Revolver). After FDA approval of the planned NDA for solithromycin, the company may convert the Term Loan to the Revolver, in which event the Revolver would have a maximum amount available of $25.0 million. The Loan and Security Agreement specifies the criteria for determining eligible inventory and eligible accounts receivable and ongoing limitations and conditions precedent to the ability to borrow under the Revolver. At closing, the company received the full $20 million under the Term Loan and paid a facility fee of $100,000 for the Term Loan and a facility fee of $187,500 for the Revolver. Amounts borrowed under the Term Loan may be repaid and reborrowed at any time without penalty or premium. The Term Loan will be interest-only through April 30, 2016, followed by an amortization period of 36 months of equal monthly payments of principal plus interest, beginning on May 1, 2016 and continuing on the same day of each month thereafter until paid in full. Any amounts borrowed under the Term Loan will bear interest at a floating interest rate equal to the 30 Day LIBOR rate plus 5.2%. Amounts available to be borrowed under the Revolver may also be repaid and reborrowed at any time without penalty or premium prior to December 31, 2017, at which time all advances under the Revolver shall be immediately due and payable in full. Any amounts borrowed under the Revolver will bear interest at the 30 Day LIBOR rate plus 4.2%. Once available, the Revolver is subject to an annual unused facility fee equal of 0.25%.

Cempra, Inc. Completes Patient Enrollment of Solitaire-IV Phase 3 Clinical Trial

Cempra, Inc. announced the completion of enrollment for the global Solitaire-IV Phase 3 trial of solithromycin in adult patients with moderate to moderately severe community-acquired bacterial pneumonia (CABP). Top-line efficacy and safety data from this study are expected to be announced by the end of the year. Solitaire-IV is a randomized, double-blind, active-controlled, multi-center global study that has enrolled 863 patients with 25% PORT Class II, 50% PORT Class III and at least 25% PORT Class IV CABP patients. Patients receive intravenous (IV) administration of either 400 mg of solithromycin or 400 mg of moxifloxacin. Patients can switch to oral dosing of their assigned drug based on a decision by their physician. For solithromycin, the oral dose is an 800 mg loading dose followed by 400 mg once daily resulting in 7 days of treatment with IV and oral doses. For moxifloxacin, the oral dose is 400 mg once daily for total treatment duration of 7 days with intravenous and oral dosing. The primary efficacy objective is non-inferiority of early clinical response at 72 hours in the intent-to-treat (ITT) population.

 

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Valuation CEMP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 61.7x
Price/Book 11.1x
Price/Cash Flow NM Not Meaningful
TEV/Sales 54.4x
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