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ContraFect Corporation (CFRX) is a pioneering biotechnology company dedicated to combating life-threatening infectious diseases, particularly those prevalent in hospital settings. Given the alarming rise of drug-resistant and newly-emerging pathogens, hospital-acquired infections have become the fourth leading cause of death in the United States, following heart disease, cancer, and stroke.
ContraFect's core business revolves around the development and commercialization of protein and antibody therapeutic products. The company leverages its innovative lysin and monoclonal antibody platforms to target conserved regions of bacteria and viruses. Lysins are enzymes produced during the life cycle of bacteriophages, which are viruses that infect and kill bacteria. This unique approach positions ContraFect at the forefront of antimicrobial therapy, especially against multi-drug resistant pathogens.
Recent achievements have solidified ContraFect's leadership in this critical field. The company has made significant strides in advancing its therapeutic candidates through various stages of clinical development. These efforts are underscored by strategic partnerships and collaborations aimed at accelerating the discovery, acquisition, and development of novel protein and antibody products.
Financially, ContraFect remains committed to transparency and growth. The latest quarterly results reflect the company's robust financial health and strategic investments in research and development. These investments are crucial for maintaining its competitive edge and ensuring the successful commercialization of its therapeutic products.
ContraFect's dedication to addressing life-threatening infectious diseases is evident in its ongoing projects and future plans. The company continues to explore new avenues for therapeutic discovery, aiming to deliver first-in-class treatments that can effectively manage and eradicate drug-resistant infections.
For more detailed updates, follow ContraFect on Twitter @ContraFectCorp and LinkedIn, or contact their investor relations team.
ContraFect Corporation (CFRX) reported Q2 2022 results, highlighting a net loss of $18.1 million, equating to a loss of $0.46 per share, up from a loss of $5.4 million, or $0.14 per share, a year earlier. R&D expenses soared to $16.8 million due to increased spending on exebacase and CF-370. Following a Phase 3 trial setback for exebacase, the company aims to initiate new studies for intra-articular exebacase for prosthetic joint infections. They expect to file for CF-370 clinical trials soon. Cash and equivalents stood at $27.3 million as of June 30, 2022.
ContraFect Corporation (Nasdaq: CFRX) announced a manuscript publication in the Journal of Bone and Joint Infection on the efficacy of exebacase (CF-296 lysin) in treating methicillin-resistant Staphylococcus aureus (MRSA) osteomyelitis in a preclinical rabbit model. Findings indicate significant reductions in MRSA counts, even with exebacase administered alone. The company is evaluating exebacase's potential for clinical studies in prosthetic joint infections and is also considering further development of CF-296.
ContraFect Corporation (Nasdaq: CFRX) announced the termination of the DISRUPT trial, evaluating exebacase for treating antibiotic-resistant infections. The Data Safety Monitoring Board (DSMB) found the study's conditional power insufficient, suggesting a halt due to low clinical response rates among 84 patients analyzed. The primary endpoint, clinical response at Day 14, did not meet expectations. The company will review further data and communicate with trial investigators about the enrollment cessation and next steps for exebacase, which previously received FDA Breakthrough Therapy designation.
ContraFect Corporation (Nasdaq: CFRX) presented data at the ASM Microbe Conference that its lead product candidate, exebacase, shows effectiveness against methicillin-resistant Staphylococcus aureus (MRSA) bloodstream infections. Recognized as a Breakthrough Therapy by the FDA, exebacase demonstrated significant bacterial reduction in a rabbit model of implant-associated osteomyelitis. The data also indicated low propensity for resistance development and suppression of antibiotic resistance. Ongoing Phase 3 trials aim to further validate exebacase's potential as a treatment for MRSA infections.
ContraFect Corporation (Nasdaq: CFRX) announced its selection to present two posters at the ASM Microbe Conference 2022 in Washington, D.C., from June 9-13, 2022. The presentations focus on the company's exebacase, a Breakthrough Therapy candidate for antibiotic-resistant infections. Key findings include exebacase's low propensity for developing resistance and its efficacy in treating MRSA infections, showing a significant clinical responder rate. Exebacase is currently undergoing pivotal Phase 3 clinical trials.
ContraFect Corporation (Nasdaq: CFRX) announced the grant of stock options for 15,000 shares to two new non-executive employees on May 16, 2022. This grant, part of the 2021 Inducement Plan, has a ten-year term and an exercise price of $3.20 per share. The options vest over four years, with 25% vesting after 12 months and the remainder quarterly. ContraFect specializes in developing direct lytic agents to combat antibiotic-resistant infections, notably with their lead candidate, exebacase, currently in a pivotal Phase 3 study for treating MRSA bloodstream infections.
ContraFect Corporation (CFRX) announced key developments in its Phase 3 DISRUPT study, achieving the enrollment of over 60% of MRSA patients needed for an interim futility analysis, expected in early July 2022. The Q1 2022 results reflected a net loss of $20.2 million, or $(0.51) per share, up from a loss of $5.2 million or $(0.18) per share in Q1 2021. Research and development expenses rose to $12.7 million, driven by clinical activities and manufacturing costs related to exebacase. As of March 31, 2022, the company had $42.3 million in cash and securities.
ContraFect Corporation (CFRX) announced promising results for its investigational drug, CF-370, presented at the 32nd European Congress of Clinical Microbiology & Infectious Diseases (ECCMID). The drug showed significant efficacy in a rabbit pneumonia model infected with an extensively drug-resistant strain of Pseudomonas aeruginosa. CF-370 not only reduced bacterial counts significantly but also demonstrated the ability to suppress antimicrobial resistance against standard antibiotics. These findings suggest CF-370's potential for treating severe infections where current antibiotics fail.
ContraFect Corporation (Nasdaq: CFRX) announces its selection for an oral presentation and six poster presentations at the 32nd ECCMID Annual Meeting from April 23-26, 2022, in Lisbon, Portugal. The presentation will highlight findings from the pivotal Phase 3 study of exebacase, a product candidate designed to combat antibiotic-resistant infections. This includes the efficacy of CF-370 in treating extensively drug-resistant Pseudomonas aeruginosa and its interaction with conventional antibiotics. The meetings aim to bolster the company's profile in the biotechnology sector.
ContraFect Corporation (CFRX) reported its fourth quarter and full-year 2021 results, indicating progress in the Phase 3 DISRUPT study of exebacase, expected to conduct an interim futility analysis in H1 2022. The company received a contract from the Cystic Fibrosis Foundation to study exebacase in treating MRSA lung infections. Q4 2021 net loss was $4.4 million, improving from the previous year's $6.4 million loss. Total cash and equivalents stood at $54.3 million as of December 31, 2021, with R&D expenses rising to $11 million due to increased clinical trial activities.
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