Melinta Therapeutics Files Quarterly Report on Form 10-Q for the Quarter Ended September 30, 2019
November 12 2019 - 4:07PM
Melinta Therapeutics, Inc. (NASDAQ: MLNT), a commercial-stage
company focused on the development and commercialization of novel
antibiotics to treat serious bacterial infections, today announced
that it has filed its quarterly report on Form 10-Q for the three
and nine months ended September 30, 2019 with the Securities and
Exchange Commission (“SEC”).
The Company encourages its current and potential investors to
read this quarterly report for information related to our third
quarter 2019 financial results and other important corporate
updates.
A link to Melinta’s filings with the SEC can be
found on its website at
http://ir.melinta.com/financial-information/sec-filings.
About Melinta TherapeuticsMelinta Therapeutics,
Inc. is the largest pure-play antibiotics company, dedicated to
saving lives threatened by the global public health crisis of
bacterial infections through the development and commercialization
of novel antibiotics that provide new therapeutic solutions. Its
four marketed products include Baxdela® (delafloxacin), Vabomere®
(meropenem and vaborbactam), Orbactiv® (oritavancin), and Minocin®
(minocycline) for Injection. This portfolio provides Melinta with
the unique ability to provide providers and patients with a range
of solutions that can meet the tremendous need for novel
antibiotics treating serious infections. Visit www.melinta.com for
more information.
Cautionary Note Regarding Forward-Looking
StatementsCertain statements in this communication
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act and are usually identified by the use of words such as
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“may,” “plans,” “projects,” “seeks,” “should,” “will,” and
variations of such words or similar expressions, including
statements related to guidance. We intend these forward-looking
statements to be covered by the safe harbor provisions for
forward-looking statements contained in Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act and
are making this statement for purposes of complying with those safe
harbor provisions. These forward-looking statements reflect our
current views about our plans, intentions, expectations, strategies
and prospects, which are based on the information currently
available to us and on assumptions we have made and include
statements regarding: expectations with respect to our liquidity,
financial performance, cash position and operations; potential
strategic transactions and alternatives; compliance with our
financial commitments; compliance with our debt facilities;
discussions with our creditors; as well as statements regarding our
plans for BAXDELA. Although we believe that our plans, intentions,
expectations, strategies and prospects as reflected in or suggested
by those forward-looking statements are reasonable, we can give no
assurance that the plans, intentions, expectations, strategies or
prospects will be attained or achieved. Furthermore, actual results
may differ materially from those described in the forward-looking
statements and will be affected by a variety of risks and factors
that are beyond our control.
Risks and uncertainties for Melinta include, but are not limited
to, risks related to potential alternative transactions, including
a sales process, a reorganization or other restructuring, including
seeking relief through a filing under the U.S. Bankruptcy Code, or
other actions with respect to our debt and operations; risks
related to our liquidity, including uncertainties of cash flows and
inability to meet working capital needs as well as other
milestones, royalty and payment obligations, including as a result
of the outcome of the pending litigation with respect to (including
the outcome with respect to our related counter claims), and any
requirement to make payments potentially due under our purchase
agreement with, The Medicines Company; risks that may arise from
the Vatera loan financing and the Deerfield facility agreement,
including potential dilution to our stockholders and the fact that
Vatera beneficially owns a substantial portion of our common stock;
risks related to our ability to continue as a going concern unless
we can secure additional sources of liquidity, which may require
successfully defending against The Medicines Company or
consensually resolving that dispute; our substantial indebtedness;
risks related to compliance with the covenants under our facilities
with Vatera and Deerfield; our need for future capital and risks
related to our ability to obtain additional capital to fund future
operations; the fact that we have incurred significant operating
losses since inception and will incur continued losses for the
foreseeable future; our limited operating history; risks related to
our failure to close on the full amount of the two disbursements
under the Vatera loan financing and risks related to the
unlikelihood that we will be able to satisfy the closing conditions
for the remaining disbursement amount; risks related to the
unlikelihood that we will be able to satisfy the conditions to
borrowing additional amounts under the Deerfield facility
agreement; risks related to the commercial launches of our products
and our inexperience as a company in marketing drug products; the
degree of market acceptance of, and our ability to fund
commercialization and promotion of, our products among physicians,
patients, health care payors and the medical community; the pricing
we are able to achieve for our products; failure to obtain and
sustain an adequate level of reimbursement for our products by
third-party payors; inaccuracies in our estimates of the market for
and commercialization potential of our products; failure to
maintain optimal inventory levels to meet commercial demand for any
of our products; risks that our competitors are able to develop and
market products that are preferred over our products; our
dependence upon third parties for the manufacture and supply of our
marketed products; failure to achieve the benefits of our recently
completed transactions with Cempra and The Medicines Company;
failure to establish and maintain development and commercialization
collaborations; uncertainty in the outcome or timing of clinical
trials and/or receipt of regulatory approvals for our product
candidates; undesirable side effects of our products; failure of
third parties to conduct clinical trials in accordance with their
contractual obligations; our ability to identify, develop, acquire
or in-license products; difficulties in managing the growth of our
company; the effects of recent comprehensive tax reform; risks
related to failure to comply with extensive laws and regulations;
product liability risks related to our products; failure to retain
key personnel; inability to obtain, maintain and enforce patents
and other intellectual property rights or the unexpected costs
associated with such enforcement or litigation; risks relating to
third-party infringement of intellectual property rights; our
ability to maintain effective internal control over financial
reporting; unfavorable outcomes in any of the class action and
shareholder derivative lawsuits currently pending against the
Company; and the fact that a substantial number of shares of common
stock may be sold into the public markets by one or more of our
large stockholders in the near future. Many of these factors that
will determine actual results are beyond Melinta’s ability to
control or predict.
Other risks and uncertainties are more fully described in our
Annual Report on Form 10-K for the year ended December 31,
2018, our Revised Definitive Proxy Statement filed January 29,
2019, our Quarterly Report on Form 10-Q for the quarterly period
ended September 30, 2019,and in other filings that Melinta makes
and will make with the SEC. Existing and prospective investors
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The statements
made in this press release speak only as of the date stated herein,
and subsequent events and developments may cause our expectations
and beliefs to change. While we may elect to update these
forward-looking statements publicly at some point in the future, we
specifically disclaim any obligation to do so, whether as a result
of new information, future events or otherwise, except as required
by law. These forward-looking statements should not be relied upon
as representing our views as of any date after the date stated
herein.
For More Information:
Investor Inquiries:Susan Blum(312)
767-0296ir@melinta.com
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