Welcome to our dedicated page for ContraFect Corporation news (Ticker: CFRX), a resource for investors and traders seeking the latest updates and insights on ContraFect Corporation stock.
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 (Nasdaq: CFRX) reported its Q2 2021 results, highlighting a net loss of $5.4 million, or $0.14 per share, compared to a $17.6 million loss in Q2 2020. R&D expenses rose to $7.8 million, up from $5.5 million due to increased non-clinical study costs and clinical trial expenses. Patient enrollment in the Phase 3 DISRUPT study of exebacase is ongoing, though impacted by COVID-19. The company continues to publish significant findings on its direct lytic agents, including CF-296 and CF-370, showcasing their potential against antibiotic-resistant infections.
ContraFect Corporation (Nasdaq: CFRX) announced multiple presentations of data from its direct lytic agents (DLAs) portfolio at the 31st European Congress of Clinical Microbiology & Infectious Diseases (ECCMID). Key highlights include in vitro data showing the potential of exebacase, currently in Phase 3 trials for MRSA bacteremia, to treat complex Staphylococcus infections. Additionally, CF-370 demonstrated promising bactericidal activity against multidrug-resistant Pseudomonas aeruginosa. The company aims to address the global health crisis of antibiotic-resistant infections.
ContraFect Corporation (CFRX) announced the publication of two manuscripts highlighting the efficacy of CF-296, a novel engineered lysin, in treating antibiotic-resistant infections caused by Staphylococcus aureus. The studies showed CF-296's potent bactericidal activity and enhanced effects when combined with standard antibiotics like daptomycin and vancomycin. These findings support further clinical development for challenging infections, including osteomyelitis. ContraFect is pursuing global rights for CF-296 and continues its commitment to addressing life-threatening infections.
ContraFect Corporation (Nasdaq:CFRX) announced the appointment of Gary Woodnutt, Ph.D. as Senior Vice President of Translational Sciences and Preclinical Development. Dr. Woodnutt will steer the scientific strategy for early-stage assets and lead extensive translational programs. His experience spans over 30 years in developing therapies against antibiotic-resistant infections. The company aims to advance its direct lytic agents (DLAs) in clinical trials, particularly focusing on the treatment of life-threatening infections caused by resistant bacteria.
ContraFect Corporation (Nasdaq: CFRX) announced multiple presentations at the 2021 World Microbe Forum from June 20-24, showcasing data on its direct lytic agents (DLAs). Oral presentations will highlight the antimicrobial efficacy of the investigational agent CF-370 against Gram-negative pathogens and its potential to improve outcomes for S. aureus bacteremia. The lead candidate, exebacase, is in Phase 3 trials for S. aureus infections. Findings will be available on the ContraFect website post-event.
ContraFect Corporation (Nasdaq: CFRX) announced promising results for exebacase, a treatment for chronic multidrug-resistant Staphylococci prosthetic joint infections (PKI). Published studies indicate that exebacase improved clinical outcomes in patients with relapsing infections, specifically in those undergoing debridement. Four patients treated showed encouraging outcomes, including decreased signs of infection. The safety profile was favorable, with no serious adverse events reported. The company is considering further studies on exebacase’s use in prosthetic joint infections.
ContraFect Corporation (CFRX) announced its Q1 2021 financial results, reporting a net loss of $5.2 million or $0.18 per share, an improvement compared to a $7.6 million loss in Q1 2020. Total research and development expenses rose to $8 million, driven by increased clinical activities for the Phase 3 DISRUPT study of exebacase. A BARDA contract awarded up to $86.8 million supports exebacase development. As of March 31, 2021, ContraFect maintained a strong financial position with $87.2 million in cash and investments.
ContraFect Corporation (CFRX) announced the issuance of U.S. Patent No. 10,988,520 for its therapeutic candidate CF-370, targeting antibiotic-resistant Gram-negative infections. The patent, expiring in March 2039, covers CF-370's composition and methods of treatment against bacteria like Pseudomonas aeruginosa. CF-370 is engineered to penetrate bacterial membranes, enhancing its efficacy in human serum. This development reinforces ContraFect's commitment to innovative therapies addressing critical global health challenges posed by drug-resistant infections.
ContraFect Corporation (Nasdaq: CFRX) announced that Dr. Cara Cassino will participate in the Cystic Fibrosis (CF) Target Product Profile Virtual Symposium on April 30, 2021. This symposium, supported by the Cystic Fibrosis Trust and The Medicines Discovery Catapult, aims to gather insights on antimicrobial agents for CF infections, particularly regarding antimicrobial resistance. Dr. Cassino highlighted ContraFect's proprietary direct lytic agents (DLAs), like CF-370, targeting Pseudomonas aeruginosa, as promising solutions for severe infections in CF patients.
ContraFect Corporation (Nasdaq: CFRX) announced that Dr. Cara Cassino will present on the Company’s anti-infective portfolio and direct lytic agents (DLAs) during a virtual session on April 22, 2021. The presentation will highlight DLAs' powerful antimicrobial properties, aiming to address life-threatening, antibiotic-resistant infections, which result in 700,000 deaths annually. The pivotal Phase 3 study of exebacase, a leading lysin candidate, received Breakthrough Therapy designation from the FDA for treating MRSA bloodstream infections.
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