SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported) May 11, 2001
Commission File Number 0-23155
TRIMERIS, INC.
(Exact name of registrant)
Delaware 56-1808663
(State of organization) (I.R.S. Employer Identification Number)
4727 University Drive, Suite 100, Durham, North Carolina 27707
(Address of principal executive offices and zip code)
(919) 419-6050
(Registrant's telephone Number)
ITEM 5. OTHER EVENTS
Trimeris, Inc. (the "company") on May 11, 2001 announced results for
the first quarter ended March 31, 2001.
For the first quarter of 2001, the company reported a loss of $11.7
million, or $0.73 per share, compared with a loss of $16.5 million ($1.11 per
share) in the comparable 2000 period. The results for 2000 include the
cumulative effect of adopting SAB 101 of $4.2 million or $0.28 per share.
Excluding non-cash compensation charges and the cumulative effect charge, the
net loss for the first quarter of 2001 was $14.5 million or $0.91 per share,
compared to $5.3 million or $0.35 per share for the first quarter of 2000.
The increase in net loss is due to expenses incurred in the quarter for
the Phase III clinical trials of the company's lead product candidate, T-20,
initiated in the fourth quarter of 2000, as well as production of drug material
for future clinical trials of T-20 and T-1249. These costs are net of
reimbursements from Hoffman-La Roche Inc., the company's collaborative partner.
Cash and cash equivalents and short-term investments totaled $75.7 million at
March 31, 2001.
Except for any historical information presented herein, matters
presented in this Current Report on Form 8-K are forward-looking statements that
involve risks and uncertainties. The results of Trimeris' previous clinical
trials are not necessarily indicative of future clinical trials, and future
results could differ materially from the results presented herein. Factors that
could cause or contribute to such differences include, but are not limited to,
those discussed in the "Risk Factors" section included in Trimeris' Form 10-K
for the year ended December 31, 2000, filed with the Securities and Exchange
Commission on April 2, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
TRIMERIS, INC.
By: /s/ Dani P. Bolognesi
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Dani P. Bolognesi
Chief Executive Officer and
Chief Scientific Officer
Dated: May 11, 2001