| | intrinsic microbiological activity of durlobactam and combinations against multidrug resistant Mycobacterium abscessus. |
Zoliflodacin
| ● | With patient enrollment and other trial activities resuming in July 2020, the Company is continuing to support the Phase 3 registration clinical trial of zoliflodacin for the treatment of uncomplicated gonorrhea with the Global Antibiotic Research and Development Partnership (GARDP). The trial plans to enroll patients with uncomplicated gonorrhea, including infections caused by multidrug resistant strains of N. gonorrhoeae, at 14 clinical trial sites across the United States, Netherlands, South Africa and Thailand, and will assess the safety and efficacy of oral zoliflodacin versus the combination of intramuscular ceftriaxone plus oral azithromycin, the current standard of care. While not providing specific guidance on the timing of top-line data from this trial due to the unpredictability of the COVID-19 pandemic, the Company and GARDP are working to optimize the allocation of their resources and funded activities in an effort to mitigate the impact on their trial sites and anticipated timeline. |
| ● | In August, the Company co-authored a review of recent progress in adapting non-clinical models to facilitate research and development of new agents for treating gonorrhea, based on the November 2019 expert workshop organized by the Global Antibiotic Research and Development Partnership (GARDP). The review was featured in the peer-reviewed journal, Clinical Microbiology and Infection. |
Discovery Research
| ● | In October, the Company presented at the Boston Area Antimicrobial Resistance Network (BAARN) Meeting 2020 an oral presentation titled, “Antibacterial Drug Discovery: Competing Methyl Efforts on Biochemical Potency and Cell Accumulation.” |
Third Quarter 2020 Financial Results
The Company reported a net loss of $11.1 million for the quarter ended September 30, 2020, compared to a net loss of $3.5 million for the quarter ended September 30, 2019. The increase in net loss was primarily related to a decrease in revenue recorded during the third quarter 2020 versus the same period last year.
Research and development expenses were $9.4 million for the quarter ended September 30, 2020, compared to $7.6 million for the quarter ended September 30, 2019. The increase of $1.8 million was driven primarily by increased spending related to our SUL-DUR product candidate, increased personnel expenses associated with higher headcount, salaries and stock-based compensation expense, and increased spending related to our ETX0462 product candidate. These increases were offset by decreased spending related to our ETX0282 product candidate.
General and administrative expenses were $3.2 million for the quarter ended September 30, 2020, compared to $3.5 million for the quarter ended September 30, 2019. The decrease of $0.3 million was driven primarily by decreases in VAT tax associated with payments received from our collaboration with Zai Lab.
As of September 30, 2020, cash, cash equivalents and short-term investments were $61.2 million, compared to $50.8 million as of June 30, 2020. Based on our current operating plan, we believe that our existing cash, cash equivalents and short-term investments will be sufficient to fund our operating expenses and capital expenditure requirements into the fourth quarter of 2021.
About Entasis
Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ pathogen-targeted design platform has produced a pipeline of product candidates, including sulbactam-durlobactam (targeting Acinetobacter baumannii infections), zoliflodacin (targeting Neisseria
