ContraFect Corp., a biotechnology company based in Yonkers developing therapeutic protein and antibody treatments for drug-resistant infectious diseases, recently announced financial results for the third quarter.
For the three-month period ending Sept. 30, ContraFect reported total unaudited assets of just more than $34 million, up from less than $10 million at the end of 2013. The company operated at a net loss for the third quarter of $16,397,678, a net loss per diluted share of common stock of $1.22. ContraFect has a net loss of $25,412,413 for the calendar year, which does not include a roughly $4.5 million dividend to its preferred stockholders. Overall, the company has a net loss per share of common stock of $5.76 for 2014.
“Throughout the quarter we have continued our mission to address treatments for life-threatening, drug-resistant infections, one of the health care community’s major unmet needs,” ContraFect CEO Julia P. Gregory said in a statement. “We have continued to advance the development of our lead program, CF-301, which is a potential first-in-class molecule to address serious, life-threatening infections in the hospital, including those caused by the drug-resistant MRSA superbug. Our CF-404 program, which is a universal treatment for life-threatening influenza, has also made great strides.”
ContraFect made a $41.3 million initial public offering of securities over the summer. The company”™s common stock trades on the Nasdaq Capital Market, an exchange for corporations with small market capitalizations. Â In an email sent to the Business Journal in July, Gregory said the company would use the proceeds of its IPO to further its work developing treatments for staph bloodstream infections such as MRSA and influenza, as well as research and general corporate purposes.
