Market Overview

Optimer Pharmaceuticals Appoints New chairman; Sees Q1 Revenues $16.45M vs $29.44M Est


Optimer Pharmaceuticals (NASDAQ: OPTR) today announced its Board of Directors has appointed Hank McKinnell as its new Chairman. Dr. McKinnell was previously appointed Lead Independent Director at the February 29, 2012 Board meeting. The Company also announced that Kurt Hartman – who currently serves as General Counsel, Chief Compliance Officer and Senior Vice President – has been appointed acting CFO and a search for a permanent CFO has commenced.

The appointments were made after the Optimer Board of Directors removed Dr. Michael Chang as Chairman and terminated John D. Prunty, Chief Financial Officer, and Dr. Youe-Kong Shue, Vice President. The Board, excluding Dr. Chang, unanimously approved the personnel changes. The Company said that Dr. Chang remains as a Director of the Company, but that the Board has requested his resignation.

Separately, the Company announced that, based upon preliminary results, it expects to report gross revenues of approximately $16.45 million for the first quarter of 2012, an increase of approximately 36% over gross revenues for the fourth quarter of 2011.

Posted-In: News Guidance Management


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